Make Paying Your Nanny Simpler
If you employ a nanny, you've probably been faced with the complicated task of trying to calculate payroll deductions and budgeting for monthly childcare.
Gila Ossip, Chartered Accountant and Founder of Tax4Nanny has some tips to help make things simpler:
Net Vs. Gross Salary
Make sure your caregiver's gross salary meets or exceeds minimum wage requirements even if you have negotiated a net salary.
Room and Board
You must consider room and board in your payroll calculations if your caregiver lives with you.
Workman's Safety Registration
Registering with your provincial Workman's Safety Board protects both you and your employee, and may be necessary by law.
If you employed a caregiver in 2010 you must file a year-end T4 summary with CRA no later than February 28.
Visit Tax4Nanny online or call 647-349-6262 & take the guesswork and effort out of paying, and filing, your caregiver's taxes.