To pay make source deduction remittances to the CRA (taxes withheld on salaries) , you will need to register your corporation as an employer.
For any corporation with a Business Number but which has not set up the Payroll (Source) Deductions Account yet, you will be required to answer some questions about your payroll account. We have suggested the answers to some of these questions for your reference.
Note: Please check to ensure the answers we have proposed are suitable to your situation and make any adjustments if necessary.
Common questions for setting up a payroll account number
- Type of deduction:
- How often will you pay your employees?
- Will you use your own computer program for payroll purposes?
- Do you use a payroll service bureau?
- When will you make the first payment to your employees?
Dec. 31 or the dates on the Director’s Fees Schedule prepared by your accountant.
- What is the maximum number of employees you expect to have working for you at any time in the next 12 months?
See your Director’s Fees Schedule
- Duration of business operation:
- Is the corporation a subsidiary or an affiliate of a foreign corporation?
- Are you a franchisee?
When applying for the Payroll account, please note the following:
- Pay period(s) is annually.
- First payment is December 31 in the current year.
- The maximum number of employees is the number of directors sitting on your Board or the number of employes on your directors fees schedule.