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Child Care / Nanny
Child Care / Nanny
Nanny Payroll & Tax Services
Full Circle Home Care offers Nanny Pay™, a service to take care of your monthly or quarterly nanny or caregiver tax remittances to Canada Revenue Agency as well as your T4 and T4A Summary at the end of the year. In addition, we can take care of your monthly or quarterly WSIB remittance, Record of Employment if necessary and even pay your employee direct on your behalf by direct deposit.
Child Care Nanny
For many busy families, dealing with nanny related tax related issues like CRA and WSIB can be time consuming process outside of the weekly payroll. For those who do not employ an accountant, it can be a confusing and time consuming process. For those who do use an accountant, it can be costly.
Most questions we are asked in the months after placement involve tax related issues, so we offer this peace of mind service to our clients.
We can Take Care Of
- 1. Paying your nanny via direct deposit
- 2. Canada Revenue Agency (CRA) registration
- 3. Calculation of net and gross pay, taxes, CPP, and EI amounts
- 4. Remittance of all source deductions
- 5. Registering your WCB/WSIB Account
- 6. Remitting your WCB/WSIB premiums
- 7. Producing and filing T4s at tax time
- 8. Producing pay stubs and receipts each pay period
- 9. Completing Record of Employment (ROE) form
Getting Started Is Easy:
Full Circle Home Care’s Nanny’s Payroll & Tax Service is the most affordable way to relieve the hassle of managing and reporting your
nanny payroll taxes and earnings.
We can save you thousands by calculating all taxable benefits, and by staying up-to-date on changes in regulations.
Step One – Initial Registration (One-time fee of $150 + HST)
- 1. Set up Payroll account with Full Circle Home Care Tax Services
- 2. Set up business account with Canada Revenue Agency (CRA) if one is not already present
- 3. Registering your WCB/WSIB Account if one is not already present
Step Two – Pick Your Package (You can change service level at any time at no charge)
A: Payroll Service:(Included with All Levels of Nanny Pay)
- 1. Provide Statement of Earnings and Deductions, which includes caregiver’s gross pay, net pay, income tax withholding, Canada
Pension Plan (CPP), Employment Insurance (EI) for each pay period - 2. Provide monthly report of the employer’s total costs (including the Employer’s portion of CPP and EI) and withholding taxes to
CRA - 3. Monitor changes to tax rates, CRA regulations, caregiver salary and make appropriate updates to Statement of Earnings and
Deductions - 4. Calculate the taxable benefits of room and board if applicable
- 5. Calculate other taxable benefits
- 6. Provide annual T4 reporting during the caregiver’s employment and file T4 summaries to CRA (one T4 and T4 Summary per account
contract) - 7. Complete your caregiver’s Record of Employment if your caregiver’s employment is concluded
- 8. Manage your payroll business account with CRA and Service Canada
B: Remittance Service:
Option 1 – Nanny Pay™
- 1. Full Circle Home Care will provide the remittance amount to the Employer and the Employer will submit CRA remittances
directly to CRA - 2. Full Circle Home Care will provide the remittance amount to the Employer and the Employer will submit WSB remittances
directly to WSB
C: Remittance Service:
Option 2 – Nanny Pay Light™ & Nanny Pay Plus™
- 1.Full Circle Home Care will pay the Employee through Direct Deposit on behalf of the Employer
Comparition Of The Nanny Pay™ Services
| Payroll Services | Nanny Pay™ | Nanny Pay Light™ | Nanny Pay Plus™ |
|---|---|---|---|
| Calculate monthly Tax, CPP and EI Amounts |  |
|
|
| Integrating the Taxable Benefit of Room and Board | |
|
|
| Calculating Other Taxable Benefits | |
|
|
| Generating the T4 and T4 Summary | |
|
|
| Completing the Record of Employment (ROE) Form | |
|
|
| Employment Standards Compliant Paystub | |
|
|
| Remit to the CRA and/or WCB | |
|
|
| Direct Deposit to Your Employee | |
||
| MONTHLY FEE | $49.99 | $59.99 | $69.99 |
