When you hire a nanny, housekeeper or other
household employee you become an employer. According to federal law you
must register and report the required payroll deductions for your
employee to Canada Revenue Agency.
The process is explained here:
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/hwpyrllwrks/stps/menu-eng.html
Hiring a nanny in accordance with the law has many
advantages for both you and the employee. One major advantage is
you can deduct childcare expenses from your income. The amount you can
deduct annually is $7,000 for each child age six and under and $4,000
for each child between seven and 16. If the child is eligible for the
disability tax credit, you can deduct $10,000 regardless of the child’s
age.
Our nanny tax experts in household employment taxes will make the
process easy and hassle free for affordable price, less than you would
think.
Payroll Service Includes:
- Calculation of net and gross pay, taxes, CPP, and EI amounts.
- Calculation of all taxable benefits, including room & board for
live-in nanny.
- Weekly, bi-weekly or monthly paystubs for your nanny.
- Provide T4 and T4 Summary at tax time.
- Completing Records of Employment (ROE) forms when nanny’s
employment ends.
- Monthly report for remitting to the CRA.
- Monitoring changes in tax regulations.
Only $39/month
Additional Services:
- Remitting to the CRA - $10/month
- Direct deposit to your employee - $10/month
- Business number registration with the Canada Revenue Agency (CRA)
- $30/one-time fee
- Account registration with the WSIB or WCB - $50/ one-time
fee
Please complete the form below and our nanny tax expert will contact
you with more details.
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