“The FTQ solidarity funds are the largest development capital investment network in Quebec. »FTQ’s official website
Interesting facts regarding FTQ:
- Quebec Federation of Workers
- Founded in 1983
- Aims to invest in sustainable development, encourage retirement savings and support businesses in all sectors of activity in all regions in order to contribute to the socio-economic growth of Quebec
- Finances also in business projects
Offers 30% savings on tax credits (15% at the provincial level and 15% at the federal level)
You can, as an employer, pay the FTQ contribution for your employee or have the employee pay it on each paycheck.
FTQ payroll items in Nubis
If you pay the FTQ contribution for your employee, you must create a benefit with the pay element “Advantage – Employer contribution to Fonds de solidarité FTQ” and assign it to the employee benefiting from the FTQ contribution.
For deductions, there are only taxes from Quebec and Canada; entries will be in boxes 14 and 40 of the T4 and boxes A and L of the R1. Otherwise, you create a deduction with the payroll item: “Deduction – Fonds de solidarité FTQ”.
For withholdings, there are only Quebec and Canadian taxes and no entries in the tax reports.
