Re: Overpayment Recovery

Noted, thank you!

On Wed, Mar 18, 2026 at 2:19 PM Timothy Thomas <tt@thekey.com> wrote:

> Thank you for confirming.
>
> Please spread it out over the next 3 pays.
>
> On Wed, Mar 18, 2026 at 2:11 PM Irin Eva <irin.eva@thekey.com> wrote:
>
>> Hi Timothy,
>>
>> If the amount is repaid in the same tax year it was paid, we reverse the
>> original earnings through payroll. This adjusts the following:
>>
>> - Gross earnings: Decreased
>> - Income tax: Decreased
>> - CPP: Decreased
>> - EI: Decreased
>>
>> As a result, your taxable income is corrected automatically, and your T4
>> will reflect the correct net earnings. No extra action will be required on
>> your part at tax time.
>>
>> Thanks,
>> Irin
>>
>>
>> On Wed, Mar 18, 2026 at 2:06 PM Timothy Thomas <tt@thekey.com> wrote:
>>
>>> How do we treat the tax implications of a clawback?
>>>
>>> On Wed, Mar 18, 2026 at 2:02 PM Irin Eva <irin.eva@thekey.com> wrote:
>>>
>>>> Hi Timothy,
>>>>
>>>> How would you like to recover your overpayment?
>>>>
>>>> Would you prefer a single deduction or to spread it across multiple
>>>> payments?
>>>>
>>>> [image: image.png]
>>>>
>>>> Thanks,
>>>> Irin
>>>>
>>>> --
>>>>
>>>> *For All Kind of Payroll Inquiries Please Copy Canada Payroll Email
>>>> - canadapayroll@thekey.com <canadapayroll@thekey.com>*
>>>>
>>>>
>>>> Irin Nahar Eva, PCP, PLP (CPM)
>>>>
>>>> Payroll Manager - Canada
>>>>
>>>> *647-932-6409 *
>>>>
>>>> irin.eva@thekey.com
>>>>
>>>>
>>>>
>>
>> --
>>
>> *For All Kind of Payroll Inquiries Please Copy Canada Payroll Email
>> - canadapayroll@thekey.com <canadapayroll@thekey.com>*
>>
>>
>> Irin Nahar Eva, PCP, PLP (CPM)
>>
>> Payroll Manager - Canada
>>
>> *647-932-6409 *
>>
>> irin.eva@thekey.com
>>
>>
>>

*For All Kind of Payroll Inquiries Please Copy Canada Payroll Email
- canadapayroll@thekey.com <canadapayroll@thekey.com>*

Irin Nahar Eva, PCP, PLP (CPM)

Payroll Manager - Canada

*647-932-6409 *

irin.eva@thekey.com