Transcript

Host: Welcome to the segment called Reviewing the payroll process, part of the Payroll Information for a New Small Business video.

I'm your host Janice Novak.

With me is Frank Stewart who will share with us, in this segment, information that he has obtained from the CRA and together we will review the payroll process.

Welcome Frank. In the previous sections we outlined the various payroll responsibilities, but I understand the process we've looked at today is often described as a cycle.

Can you tell me a little more about that?

Subject matter expert: Thank you Janice, absolutely.

The cycle really starts when you know you have an employee.

First you deduct CPP, EI, and income tax when your employee is paid.

Next, you remit the deductions and your employer's share of CPP and EI to the CRA.

And finally, you report the income and deductions on an information return and file it with the CRA by the last day of February of the next year.

Host: This video has provided new small businesses with an introduction to a wide variety of topics.

Where can someone go if they want more information?

Subject matter expert: For more information on payroll topics, go to www.cra.gc.ca/payroll.

From there, you can see the guides that we referred to in this video and webpages dedicated to specific topics.

There are a few numbers to call, depending on what you need help with.

Call the business enquiries line at 1-800-959-5525 for payroll or business-specific enquiries.

Call the e-Services Helpdesk at 1-877-322-7849 for technical assistance with online services.

Call the automated TeleReply Service at 1-800-959-2256 if you have a payroll account and need to report that you don't have employees for a period.

Host: Thank you Frank.

This concludes the segment on Reviewing the payroll process, part of the CRA's Payroll Information for a New Small Business video.

Thank you for watching.