An Intriguing Tale Of Being An Owner

For those who are not aware of this, owning your own business in Canada.. you not only have to pay the usual GST and HST .. you also have to pay taxes for your employees. When you hire someone to be your employee, you not only pay the person, for example – $7 per hour .. but you have to take care of their vacation pay which is 4% of what they’ve earned during the week, Canada Pension fund, Unemployment Insurance, Federal taxes and Provincial taxes. Yes… in some instant you pay as much as the employee and others more. So if you think that your employee is only paying you $7/hr . .and it’s low .. think again. Because they have to contribute to all those taxes .. I’ve mentioned.

This entry was posted on Tuesday, March 4th, 2008 at 1:23 am and is filed under Business, This Wonderful County, This Wonderful Town. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.