Employers who do payroll manually should create a secure records management system to store sensitive employee information. You can download TD1 forms on the CRA website.Įnter this information into your payroll software. The information they provide determines some payroll deductions. Bank account information for direct depositĮmployees must submit federal and provincial TD1 forms.Next, collect the following information from your employees: You may also need to set up accounts with the Ontario Workplace and Safety Board and the Ontario Ministry of Finance to remit workplace insurance and health tax payments. Payroll software or service you intend to use.Pay schedule, whether it’s weekly, bi-weekly, or semi-monthly.The registration process requires the following information: New businesses can register for a BN and payroll program account simultaneously on the CRA website. It’s your business’s unique identifier to the CRA. It’s the business version of a Social Insurance Number (SIN).Ī payroll program account is a 15-digit number that contains your nine-digit BN. A BN identifies your business to the federal government. To run payroll in Canada, you need a Business Number (BN) and payroll program account through the Canada Revenue Agency (CRA). Payroll can feel like a marathon: It doesn’t sound appealing to run, but once it’s over, you're sweaty and happy you did.Įmployers in Canada can follow these seven steps for a sweat-free payroll process.
0 Comments
Leave a Reply. |