This article is for Payroll by Wave in Canada.
It's nice to not have to worry about payroll tax! Follow the steps below to set up Wave to remit taxes for payroll on your behalf.
Before you begin, you'll need to set up payroll direct deposit and have a CRA number for payroll tax remittances.
- Click on Settings in the bottom left corner and choose Tax Profile from the drop-down menu below Payroll.
- Under CRA Payroll Account Number click on the New Identifier button. On the screen that pops up, enter your CRA payroll number and "effective as of" date. This number should have an "RP" in it. When entered, click the Submit button.
- Choose whether Wave should do Monthly remittances, Threshold 1 or Threshold 2 (accelerated remittances) on your behalf. This information should have been given to you by the CRA when you registered your business. See more about CRA remittance due dates.
Wave will now submit your payroll taxes to the CRA on your behalf.
You can look at Taxes > Remittances to see which taxes will be handled by Wave and which you will need to handle. This is usually if Payrolls were initially approved with the feature turned off.