Whether you are a Canadian limited company or a self-employed small business, if you need to hire employees, you need to process payroll and become an employer. As an employer, you need to be aware of the following important issues:
-
Sign an employment contract: Make sure you have a signed employment contract that clearly states the terms and conditions of employment.
-
Apply for a payroll tax ID: You need to apply for a payroll tax ID. Once approved, you must strictly abide by labor law regulations, otherwise you will face significant risks.
-
Salary calculation: Depending on company regulations, you can calculate your salary on an hourly or monthly basis. However, you must follow your tax authority's rules and deduct personal income tax and Canada Pension Plan (CPP) contributions, but not Employment Insurance (EI) payments. The amount of salary payment can be comprehensively considered based on the company size and tax burden. For employee salary payment, in addition to deducting personal income tax and CPP, the company also needs to pay the same amount of CPP and 1.4 times EI.
-
Occupational Work Injury Insurance Number (WSIB): Please click here to download the Chinese brochure to learn about WSIB and the application process.
-
Employer Health Tax (EHT): Pays employee wages and related payroll taxes.
Please note that Canadian payroll taxes have very severe penalties for non-compliance, so it is important that payroll taxes are enforced on time and accurately.
Our services (calculation and reporting):
-
Salary calculation: We calculate wages accurately to ensure that employees’ wages are paid on time.
-
Salary reports: We provide detailed salary reports, clearly recording and presenting salary information.
-
Payroll tax calculation: We specialize in processing payroll tax returns to ensure you comply with relevant tax regulations.
-
Year-end T4: We are responsible for the preparation and submission of year-end reports (T4) to help you meet tax requirements.
-
EHT declaration: We declare Employer Health Tax (EHT) on a monthly basis to ensure that you comply with relevant tax obligations.
-
Work-related injury insurance declaration: We assist you in completing the declaration work for occupational injury insurance (WSIB) to protect the rights and interests of you and your employees.
-
Release Certificate: We provide a complete Removal Certificate (ROE) to ensure compliance operations and safeguard employee rights.
-
Personnel Employment TD1 and ONTD1: We provide personnel forms and documents (TD1 and ONTD1) to help you manage the employment process and ensure legal compliance.
-
EHT payments: We make monthly Employer Health Tax (EHT) payments to ensure you pay the relevant taxes on time.
-
Salary bank transfer: We provide direct deposit services to transfer employees' wages directly to their bank accounts, which is convenient and fast.
-
Payroll tax payment: We help you pay your payroll taxes on time to ensure you fulfill your tax obligations.
-
Work-related injury insurance payment: We assist you in completing the payment of occupational injury insurance (WSIB) to protect the rights and interests of you and your employees.
-
Withholding payment: We provide withholding payment services to ensure that various deductions and debts are paid on time.
-
Tax payment certificate: We provide tax payment certificate to clearly record your tax situation and provide you with complete financial records.
-
Other third-party payment certificates: We provide you with third-party payment certificates to ensure transparent recording of all payment transactions.