The Basics of Canadian Payroll: A Guide for Small Business Owners 2023
Managing Payroll is an Essential Aspect of Running a Small Business in Canada. As a small business owner, understanding the basics of Canadian payroll is crucial to ensure compliance with employment laws and regulations. In this guide, we will provide an overview of the key elements of the Canadian payroll in 2023. Determining Employee Classification Before delving into the intricacies of Canadian payroll, it is vital to correctly determine the classification of your employees. In Canada, workers can be classified as employees or independent contractors. Understanding the distinction is important as it affects how you handle taxes, deductions, and other payroll obligations. Registering for Payroll Accounts Once you have determined the employment classification of your w...