If your EI contributions on line 31200 (employment) or 31217 (self-employment) aren't what you expected, here's what you need to know:
Calculation of EI contributions:
- EI contributions are calculated on form T2204 or Schedule 13 (for self-employment income)
- To view the calculation:
- Go to the Summary > Documents section in your Wealthsimple Tax profile
- Find and expand the T2204 form or Schedule 13
Refunds for overpayment:
- Any refund for EI overpayment is shown on line 45000 of your T1
If line 31200 shows $0 but you're not exempt from EI:
- Check your T4 slip entry:
- Ensure box 24 is not $0 (leave it blank if you're not sure)
- Verify that EI for box 28 is not checked
Common issues and solutions:
- Incorrect T4 entry:
- If box 24 shows $0, leave it blank instead
- If EI for box 28 is checked, uncheck it unless you're truly EI-exempt
- Multiple T4 slips:
- Ensure all T4 slips are entered correctly
- The system will calculate the total EI contributions across all slips
- Self-employment income:
- If you have self-employment income, your EI contributions may be calculated differently
Remember:
- EI contribution amounts are based on your employment income
- There's a maximum annual EI contribution limit
If you believe there's an error in your EI contribution calculation, double-check your T4 entries and employment details. If you need assistance understanding your EI contributions or have questions about your specific situation, consider consulting with a tax expert. For help navigating Wealthsimple Tax, please contact Wealthsimple support.
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