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. Check out our blog for additional resources and information for small businesses.