Hiring Your First Employee and Calculating Remittance Amounts If you fail to deduct or you send remittance beyond the due date, the CRA may assess a penalty. If you hire an employee on March 25 and pay them on April 3, then your first remittance due date is May 15.Įven if you don’t open an account with the payroll program before hiring your employees, you still need to calculate deductions and remit them by the proper due date. You make the first payment on March 25, so your first remittance due date is April 15. Imagine you hire an employee on March 11, and you decide to pay them bi-weekly. Your first remittance due date is the 15th day of the month following the month you begin withholding deductions from your employee’s pay. Knowing your remittance due date to submit payroll deductions ensures that you register on time and avoid penalties for late remittance. The remittance due date is the date your company sends information or payments to the CRA. When setting up online payroll, it’s essential to know your first remittance due date. You use your BN for all your company’s dealings with the agency, so memorize it or keep it close at hand.

Below is a guide to Canadian business numbers:Īll sole proprietors, partnerships, corporations, trusts, and other ownership types receive an individual BN.

If you sign up for payroll online, then your BN will have the initials RP. Lastly, a four-digit number references the specific account. Next, a two-letter acronym identifies the program. The first nine digits of the account number are your BN.

Goods and services taxes/harmonized sales taxes (GST/HST)įor each program account, your business receives a 15-character account number.

Your BN identifies your business when you register with any of the four major government programs outlined below: The CRA uses your BN to identify your company for all tax matters related to your business, including earnings and payroll taxes. A business number is a unique nine-digit number that identifies businesses matters with federal, provincial, and local governments. What do you need to set up payroll online?īefore you open a payroll account with the CRA, you must first register a business number (BN) for your organization.

Register for my business account cra