Payroll Services for Small Businesses in Toronto

Who it’s for

Payroll has to be right every time, and the deadlines don’t move. My payroll service suits:

• small businesses with a few employees
• owners who are doing payroll themselves and want it off their plate
• businesses hiring their first employee and setting up payroll for the first time

What’s included

• Calculating each pay, including CPP, EI and income tax deductions
• Pay stubs for your employees
• Remitting source deductions to the CRA on time
• Year-end T4 slips and the T4 Summary
• Keeping your payroll records in order in case the CRA asks

What to bring

• Your business number and payroll account number (it ends in RP0001)
• Each employee’s TD1 forms and start date
• Pay rates, pay schedule and hours worked
• Any payroll records or remittances you’ve already done this year

Bring employee details to the meeting in person, not by email or the website form.

Deadlines payroll has to meet

• Remittances: most small employers remit source deductions to the CRA by the 15th of the month after payday. Some remit quarterly or more often, depending on their size.
• T4 slips: due to employees and the CRA by the last day of February.

Late or short remittances can lead to CRA penalties and interest. Staying on schedule is the whole point of handing payroll over.