Ottawa Public Library / Bibliothèque publique d'Ottawa. Employers' Guide - Payroll Deductions and Remittances. T4001(E) Rev. 13 If you are blind or partially sighted, you can get our publications in braille, large print, etext, or MP3 by going to About multiple formats.
You can also get our publications and your personalized correspondence in these formats by calling 1-800-959-5525. La version française de ce guide est intitulée Guide de l'employeur – Les retenues sur la paie et les versements. Table of contents Is this guide for you? Use this guide if you are: an employer;a trustee;a payer of other amounts related to employment; oran estate executor, a liquidator, an administrator, or a corporate director. For information on taxi drivers and other passenger-carrying vehicles, barbers, and hairdressers see Chapter 7.
Do not use this guide if you are self-employed and need coverage under the Canada Pension Plan (CPP) or employment insurance (EI). What's new? Form PD7A, Statement of Account for Current Source Deductions Online services built for businesses You can now: To access our online services, go to: Small business: advice, support services, regulations.
Business support services and advice You can get helpful business advice, support and services at these offices and centres.
Small Business Enterprise Centres These centres can help you start or grow a business. These centres offer: free consultations with a qualified business consultant internet and computer access for business research and planning review of business plans consultations through a lawyer or accountant referral service up-to-date information for entrepreneurs access to directories, trade indexes and books workshops and seminars guidance on licenses, permits, registration, regulations and other documents you need to start a business import and export information information on patents, copyright and trademarks mentoring and networking opportunities Find a Small Business Enterprise Centre near you Business Advisory Services Our 12 Business Advisory Service offices can help you expand your business in Ontario and around the world.
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Roy Weber When starting a new business it often works out best not to hire employees right off the bat. Staffing costs can be expensive and initial cash flow may not warrant it. The average time it takes before a new business owner thinks of hiring is two years after start up. Payroll. Hiring Your First Employee. Published November 2006 By Julie King Expanding your business to include outside employees can be a daunting task for business owners.
When you hire someone you take on added responsibility. Yet you are also taking an important step in moving beyond being self-employed. Hiring an employee. Hiring credit for small business (HCSB) The 2011 federal budget created a hiring credit for small business (HCSB), a credit intended to stimulate new employment and support small businesses.
The 2012 federal budget extended the HCSB for 2012. The 2013 federal budget expanded and extended the HCSB for 2013. The HCSB gives small businesses relief from the employer's share of employment insurance (EI) premiums paid in a year. It does this by crediting up to $1,000 on the payroll program account, based on the increase in an employer's EI premiums paid in one year over those paid in the year before. Income Splitting Canada - Canadian Income Tax - Income Splitting. Is your business going to make too much money this year?
Then now's the time you should be planning ahead to lessen your Canadian income tax bite by splitting your business income within your family. The basic theory behind income splitting is simple. You will pay less Canadian income tax if you make less money because of the sliding tax rates. Income splitting is the transfer of income from a person in a higher income tax bracket to a person in a lower income tax bracket. As a business, you can decrease your actual income by hiring your spouse and/or children as employees, and passing along some of your business income to them in the form of salary or wages.
Suppose, for instance, your business's net income is $75,000. And Canadian income tax savings are not the only benefits to this tax strategy. Income Splitting Canada Rules So what are the catches to income splitting in Canada?