When calculating payroll, an online payroll calculator is a useful tool.
If you are looking for guidance on calculating provincial payroll deductions for a salary, commission, pension or to verify CPP contributions and EI premiums, the CRA Payroll Deductions Online Calculator is helpful. As of January 2014, tax rates, claim codes and thresholds are included.
One thing to be aware of when looking for an online payroll calculator is results are merely estimates, and getting it wrong can lead to compliance issues, or worse yet CRA fines. Below are guidelines to consider when using a payroll calculator.
If you would rather not calculate payroll yourself, look for certified payroll professionals to do it for you.
This post originally appeared on the Ceridian for Small Business Blog, January 21, 2014.
Chamber members receive a 10% discount for payroll services from Ceridian. View Ceridian’s infographic for an overview of flexible payroll and HR solutions for small business.