Corporate Tax Planning - Edwin Law, Chartered Accountant, CFP, Tax, Financial Planning, Audit
If you pay the same remuneration for an individual's services rendered, it would cost your business less if the individual is hired as an independent contractor, and not as an employee. For 2011, the payroll expenses for employer's CPP and EI contributions can be up to $3,419 per employee. Depending on the provinces where the employees report to work, there are other payroll costs such as premiums charged by the Workplace Safety and Insurance Board (WSIB) and employer health tax (EHT).
The information in this article was current at 06 Dec 2011