We keep you up to date on all mandatory government filings and remittances. These include GST/HST, Payroll Source Deductions, WSIB Remittances.
GST/HST – Harmonized Sales Tax, commonly referred to as HST, is a consumer tax resulting from the combination of the Canadian Goods and Services Tax (GST) and provincial sales tax (PST).
The HST is collected by the Canada Revenue Agency (CRA) which then remits the appropriate amounts to the participating provinces.
Source Deductions -These are the deductions taken off a pay cheque by the employer which are due to the Federal government. They include CPP (Canada Pension Plan), EI (Employment Insurance) and Tax (both Federal and Provincial).
Most companies owe on the 15th of the following month. Therefore for payroll paid in August, the “source deductions” are due on September 15th.
WSIB Remittances – Employers are required to calculate, report, and pay their premiums based on either actual insurable earnings for those reporting monthly or quarterly, or on estimated earnings for those reporting annually, by due dates set by the WSIB.