What is the new TD1 indexing option in Employee setup?
A. Each taxation year, the provincial and federal TD1 forms may be indexed. Indexing means that certain personal amounts will increase based on changes to the Consumer Price Index. The Canada Revenue Agency and Ministère du Revenue Québec will provide you with the indexing factors each year. Use this selection to quickly update the provincial and federal TD1 personal claim amounts for all of your employees in one step. Only enter the amount of the increase for the index value.