CPP Overpayment

What happens when there is a CPP overpayment?  I know if not adjusted the employees will get their overpayment back on their tax return, but what about the employer's overpayment?  Does CRA credit the payroll account for this?

This feels like a stupid question! 

Parents
  •  I actually opened the payroll detail in Excel and did the calculation myself.  There were overpayments by the employees.  I then contacted CRA to find out how the employer goes about getting their overpayment back.  I was told to report the CPP deductions on the T4s for the employees that were actually deducted and then on the T4 Summary to report what should have been deducted.  He said the difference for the overpayment will be credited to the payroll account and to deduct this amount of the next remittance.  He also told me to include a note explaining why there were overpayments.  It will be interesting to see how this works out in the end.  Seems to easy to actually get a refund from CRA!

Reply
  •  I actually opened the payroll detail in Excel and did the calculation myself.  There were overpayments by the employees.  I then contacted CRA to find out how the employer goes about getting their overpayment back.  I was told to report the CPP deductions on the T4s for the employees that were actually deducted and then on the T4 Summary to report what should have been deducted.  He said the difference for the overpayment will be credited to the payroll account and to deduct this amount of the next remittance.  He also told me to include a note explaining why there were overpayments.  It will be interesting to see how this works out in the end.  Seems to easy to actually get a refund from CRA!

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