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Payroll Services

    Home Accounting Services Payroll Services
    NextPrevious
    Payroll

    Payroll Services

    By sdg team | Accounting Services, Tax | Comments are Closed | 5 October, 2018 | 0

    What Kind of Slips is Applicable to Me or My Employees?

    Whereas employees generally receive T4 slips, shareholders who pay themselves dividends should be receiving T5 slips. We will identify what kind of slips you need for year-end and ensure your summaries are filed with CRA.

    The general deadline for filing summaries is the last day of February of the following calendar year to which they apply (February 28 unless leap-year*).

     

    Payroll Software Selection

     

    PayrollWhether you are choosing to use Wagepoint, Quickbooks Online (QBO), Simple Pay, Wave, or Payment Evolution we are here to help guide and select the right payroll provider software for your small business.

    Each software has different capabilities and features. Some can offer direct deposit for your employees (to eliminate checks) and others can automatically remit source deductions to CRA (without having to pay through your online bank or visiting the branch).

    We will help set up and integrate your software solution to your accounting system to ensure your accounting system is tracking your payroll liabilities and recording your payments to ensure accurate financial reporting.

     

    Payroll Remittance Types

    For small businesses, there are usually 3 options for remitting periods. The most common is a regular remitter who must make monthly remittances.

    Type

    Average Monthly Withholding Amount (AMWA)

    Frequency

    Due Dates

    Regular

    0 to $24,999.99

    Monthly

    15th day of the next month

    New Small Employer*

    N/A – Total Monthly withholding amount is = 0 to $999.99 & Perfect Compliance History

    Quarterly

    15th day of the next month of that quarter

    Account Opened for the minimum of 12 months or Longer 0 to $2,999.99 & Perfect Compliance History Quarterly

    15th day of the next month of that quarter

    * You do not have to apply, remit quarterly unless CRA tells you on your statement of account that you must remit differently.

     

    How to Remit Source Deductions

    Debit – Using ‘My Payment’ directly from the Canada Revenue Agency’s website.

    Online Banking – Directly through your web login you can usually add CRA as a Payee. Some institutions have a tax payment option portal as well.

    In Person – At your financial institution with the ORIGINAL* voucher (Must be original, not a copy!)

    Credit Card – Typically you must use a 3rd party provider to pay with a credit card and they charge a fee. Contact Us if you’d like to know which ones we recommend!

    By Mail – with a Cheque or Money Order (Sudbury Tax Center with Original Remittance voucher)

    Wire Transfer – those who do not have a Canadian bank account can make payment to CRA by wire transfer. (Click here for wire details)

    Best Payroll Service, Canada Payroll Service, Canadian Tax, Canadian Tax Advice, CRA, CRA Tax Owing, Payroll, Payroll and Tax Services, Payroll Services, Payroll Software, Small Business Payroll, T4 Slips, T5 Slips

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      Comments Off on Digital-Virtual Bookkeeping Services and Remote Cloud Accountants

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    • Personal Real Estate Corporations
      17 October, 2020
      Comments Off on Information on Personal Real Estate Corporations (“PRECs”) in Ontario

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    Recent Comments

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    About Us

    SDG Accountant began in the spring of 2014 as an accounting firm dedicated to servicing clients with tax filing in the Greater Toronto Area. As clients appreciated working with our firm, more referrals were happening and our firm continuously grew in size. Through our customer-focused service, we rely on our client’s satisfaction into attaining more repeat business and referrals.
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    • Home
    • Services
      • Accounting Services
        • Accounting & Bookkeeping
        • On-site Bookkeeping / Outsourced Bookkeeping
        • Payroll Services
        • Outsourced CFO & Controller Services
      • Canadian Tax
        • Corporate Tax Accountant Toronto
        • Personal Tax Accountant in Toronto
      • US Tax
        • Individuals
        • Expatriate Tax
        • U.S. Tax and Canadian Tax
        • Businesses
      • Business Registration
      • CRA / IRS Representation
        • CRA Tax Audit Support
        • VDP – Voluntary Disclosure Program
      • Staffing Services
      • Notice to Readers
    • Our Team
    • Our Clients
      • Online Businesses And E-Commerce
      • Small Businesses in Toronto
      • Car Dealerships
      • Land Developers And Construction Companies
      • Law Firms
      • Doctors and Dentists
      • Residential And Commercial Real Estate Landlords
      • Real Estate Professionals
      • Retailers
      • Manufacturers And Distributors
      • Long-haul Truck Drivers
      • Not-for-Profit Organizations
      • Restaurants
      • Gas Stations
    • Resources
      • About Us
      • Testimonials
      • Blog
      • Careers
      • Tax Filing Deadlines and Due Dates
      • Filing Information
    • Contact Us
      • Request A Consultation
      • Locations
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