What are the chances that my company will be audited by the Canada Revenue Agency (CRA)?

At least 1 in 100 businesses get investigated every year. Many are left in a panic when the inquiry letter arrives.

How long should I keep company payroll records?

Labour Standards requires that employers keep all records for 4 years, but the CRA requires you to keep all records and supporting documents for 7 years.

Where should I store my company payroll records?

You must keep records at your place of business or your residence in Canada, unless the CRA gives you written permission to keep them elsewhere. 

When I hire a new employee, what deductions need to be made for their pay?

When you hire and start paying a new employee, you have to deduct Employment Insurance, Canada Pension Plan, and Federal and Provincial Income Tax.

What do I pay my employees if they work on a statutory holiday?

3 options are available to compensate an employee who works on a paid public holiday:

1. They receive wages at twice their regular rate for the hours worked on the holiday
2. They receive an additional day off with pay within 30 days
3. They receive an additional vacation day

Have more questions? Contact us today to find a solution to all your payroll needs!