As a small business owner, you have a lot of responsibilities, including your obligation to pay your employees. Just writing that paycheque isn’t enough, though — you also have to withhold your employees’ payroll deductions, remit them to the Canada Revenue Agency (CRA), and take care of more paperwork than you might expect.
Payroll deductions include Employment Insurance (EI) premiums, Canada Pension Plan (CPP) contributions and income tax. In rare cases, you may also need to withhold child support or other wage garnishments from your employees’ paycheques. Luckily, the process is relatively straightforward, and with the right information and tools, you can easily handle payroll and deductions.