1. Statutory Holiday Payouts
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In Canada, there are nine general holidays that apply to all companies federally, but in
addition to that, there are certain holidays that apply to specific provinces.
As an employer, you are legally required to pay out statutory holiday pay for employees
who work on that holiday, but those requirements can vary based on your province.
A good first step is to ensure that your company's payroll calendar accounts for those
holidays, and then if your employees meet eligibility requirements, you should make sure
that they have been paid out for those holidays.
2. Employee Details
As an employer, you are legally required to collect and record your employees' SIN within
three (3) days of their hire date. So, a mid-year check is a great time to make sure that all
those employee records are up-to-date.
And while we are on the subject of SINs, you also want to make sure you have their first
and last names spelled correctly and their most current address on hand.
If you are using online payroll solutions for your company, your employees should be able
to access and update their personal details like their address, birth date, etc. all online,
which is a lot easier than you making those edits individually.
3. Business Number and/or Quebec Remittance Account Number
One of the first steps of setting up your business is to register your company with the
government. Through the registration process, you get a unique business number for
your company.
This 9-digit business number forms the basis for all your program accounts with the
government, including your payroll account.
All your tax remittances are paid out to the payroll account, associated to your company,
so it's a piece of information you never want to get wrong. While we strongly
recommend checking this during and immediately after setting up with your payroll
provider or bookkeeper, it's something you can always check again at this midpoint in
the year.
