Payroll · T4 · ROE
Payroll
We run your payroll, send source deductions to the CRA on time, and prepare T4 and T5 slips, records of employment, and your WorkSafeBC and employer health tax filings.
| Source deductions | Usually by the 15th of the next month |
|---|---|
| T4 and T5 slips | Last day of February |
| Record of employment | Within 5 days after the pay periodwhen filed electronically |
| BC employer health tax | BC payroll over $1 million |
| WorkSafeBC | Register when you hire |
What's included
- Calculating pay, vacation pay and deductions for each pay period
- Pay stubs for your employees
- Sending CPP, EI and income tax deductions to the CRA on time
- T4 and T4A slips and summaries, and T5 slips for dividends
- Records of employment (ROEs) when someone leaves or goes on leave
- WorkSafeBC registration and payroll reports, and the BC employer health tax
Who it's for
- Businesses hiring their first employee
- Small businesses with regular staff
- Owner-managers paying themselves a salary or dividends
- Employers whose payroll has fallen behind
What we'll need from you
- Your business number and payroll account, if you already have one
- Each employee's TD1 forms, SIN and start date
- Pay rates, hours or salaries for each pay period
- Details of vacations, leaves and anyone who has left
- Your WorkSafeBC account number, if you have one
Good to know
When do I need a payroll account?
As soon as you pay employees, including yourself if your company pays you a salary. Open it before your first remittance is due. In BC, most employers also need WorkSafeBC coverage once they hire.
Should I pay myself a salary or dividends?
It depends on your company's income, your personal tax rate and your plans. A salary builds RRSP room and CPP; dividends don't. We can compare both for your situation (see corporate tax).
What is the employer health tax?
A BC tax on payroll. Employers whose total BC payroll is $1 million or less don't pay it; above that it applies, and the annual return is due March 31. Associated companies share the $1 million exemption.
An employee is leaving. What do I need to do?
Issue a record of employment, generally within five days after the end of the pay period in which their pay stops, and pay their final wages and vacation pay on time.
Book a consultation
Leave your details and what you need, and a professional accountant will contact you.
Please don't send tax documents or your SIN here. Once we've agreed on the work, we'll send you a secure upload link.