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The Great Canadian Guide to Small Business Payroll

Free Payroll eBooks for Small Business Owners and Startup Founders in the United States & Canada

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Federal and Provincial TD1 forms: You should also maintain a record of your employees' Federal and Provincial TD1 forms, which will help you determine the amounts that need to be withheld for source deductions. Even without a SIN and TD1 forms, the employer is legally expected to collect and remit taxes on behalf of the employee. You would just use the basic claim amounts when calculating the source deductions. Key Takeaways 08 | www.wagepoint.com Each province has its own employment standards legislation, which is why you should always contact the Labour Department in your province to understand the guidelines in which you should operate your business. Register for a Business Number either via the BRO program or by completing the Form RC1 and sending it in via mail or fax. You can also phone in the details by calling 1-800-959-5525, but make sure you have the information requested on the Form RC1 handy. There are four major program accounts, and if you have employees to pay, you should register to get a payroll account. You are legally required to maintain a record of your employees' SIN and TD1 forms, both federal and provincial; however, you are expected to collect and remit the tax amounts owed even if you have not received that information from your employee as yet.

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