Payroll practitioners play an important role. They help ensure more than $1 trillion in wages and taxable benefits are paid to Canada's workforce while also complying with federal, provincial, and territorial regulations.
The below describes what businesses should expect from their payroll provider.
Allows you to focus on what you know best: your business.
16-32 hours are spent per month
Getting payroll wrong can lead to penalties and fees imposed by the Canada Revenue Agency.
Penalty of 10% of the amount of CPP, EI, and income tax you didn’t deduct
Payroll providers should be available whenever you need them, and easy to reach.
They answer any technical questions you have, and give professional advice.
Stat calculations and eligibility
Whether benefits/payments are taxable
Payroll providers should provide you with exceptional client service in a timely manner.