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Payroll system

If you are setting up a business with employees in Canada, you’ll need to set up a payroll system. That means knowing about Canada’s specific laws regarding payroll. To get your payroll up and running, you’ll need to know about the following things:

  • Will you pay your employees weekly, bi-weekly, semi-monthly or monthly?
  • If you have staff aged between 18-70, and you operate outside of Quebec, you are obliged to contribute to the Canada Pension Plan (CPP)
  • You will usually need to set up payments based on a 40 hour work week and make accommodations for overtime if that occurs.
  • If you plan to dismiss an employee you must provide notice adhering to labor laws regarding severance pay.

We can factor in all of the above when we set up your payroll system. Additionally, we will take care of the following items on an individual basis when implementing your payroll system:

  • Register your Business Number (BN) and payroll program account through the Canada Revenue Agency (CRA)
  • Set your company up with the latest payroll software that applies to your businesses size
  • Gather employee information
  • Calculate gross wages including taxable fringe benefits and overtime
  • Calculate and deduct taxes and contribution factoring Federal income tax, Provincial or territorial income tax, CCP contributions
  • Employment insurance premiums and Registered Retirement Savings Plan (RRSP) contributions
  • Send out reconciled paychecks through payroll software and send wages through direct deposit
  • Remit all deductions and taxes to the CRA
  • Create and share Forms
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