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Alani Bookkeeping

Payroll, Source Deductions, T4, T5018, & WCB

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Payroll - 
a list of a company's employees and the amount of money they are to be paid.
"there are just three employees on the payroll"
  • the total amount of wages and salaries paid by a company to its employees.


Source deductions - Source deductions refer to the money you withhold from your employees' paycheques and remit to the Canada Revenue Agency (CRA). These deductions include Canada Pension Plan (CPP) contributions, Employment Insurance (EI) premiums and income tax.Dec 2, 2019

https://quickbooks.intuit.com/ca/resources/taxes/small-business-terms-what-are-source-deductions/#:~:text=Source%20deductions%20refer%20to%20the,EI)%20premiums%20and%20income%20tax.


T4

https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t4.html


T5018 
https://www.canada.ca/en/revenue-agency/services/tax/businesses/contract-payment-reporting-system-cprs/information-payers-t5018.html

WCB
https://www.worksafebc.com/en/law-policy/occupational-health-safety/searchable-ohs-regulation/workers-compensation-act