When you see how affordable it is to hire a foreign live-in caregiver you will wonder why you never hired one sooner. See our payroll chart below, so you can better understand what it really costs every month to hire foreign worker. If you do the math after taxes and room/board deductions it only cost between $1000 and $1400 per month in most cases. Compare that with using an impersonal daycare for multiple children or a nursing home for the elderly.
Canada Pension Plan (CPP) The employer's contribution is an amount equal to the total of the employee's contribution.
Employment Insurance (EI) As an employer, your contribution is 1.4 times the amount of the employee's premiums for the pay period, unless a reduced rate applies.
All above figures are based on a 40 hour per week schedule. Overtime applies after 44 hours per week at a rate of 1.5 x rate per hour in almost all Provinces.
The above figures are estimates only - please verify numbers with CCRA 1-800-959-5525.
If you don't like the idea of taking off taxes yourself we can have a payroll company do that for you.
Thursday, July 24, 2008