Payroll Penalties You Need to Know About
When a business hires an employee, it is important for that employee to be “formally” hired, that is with a role description, a rate of pay or salary level and a statement of expectations that define the relationship between the employer and employee, all well documented and filed in case of audit from the CRA. This is particularly important post-COVID, as CRA will be auditing the Canada Emergency Wage Supplement (CEWS) payments businesses received, right up to the end of 2023. But it is also very important if you have hired family members.
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Co-signer or Co-Borrower?
What’s the biggest difference between a co-borrower and a cosigner? It relates to the degree of investment in the loan. Here are the details:
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