When your business is active on Wave’s payroll direct deposit feature, your business will automatically be active for tax remittances to the CRA. Learn how to apply for payroll direct deposit.
You can access tax forms with an active payroll subscription. Once accessed, you must file them outside of Wave. To see which tax forms are available, read tax forms in Wave.
How remittances are made on your behalf
Closing your business and tax responsibilities
Reinstate tax remittances with Wave
How remittances are made on your behalf
Each time you approve a payroll in Wave, the applicable taxes for that pay period are calculated for your employees.
If you pay your employees using direct deposit, Wave withdraws the tax amounts at the same time as employee wages, and the money is held in trust until the CRA tax due date.
If you are active on Wave’s direct deposit feature and pay your employees by cheque, the funds for tax remittances will be withdrawn three days before the selected payday. Employee wages must still be paid outside of Wave.
If you receive a payroll tax notice from the government, Wave’s payroll specialists can help. If there is a financial penalty, pay the penalty and any interest accrued immediately. Then, open Mave, Wave’s automated chatbot, and request a Support Agent. You will need to provide screenshots of all pages of the notice.
Nil remittances
If you have a pay period where you did not pay any employees or did not withhold any payroll taxes, you may still need to report this to the CRA as a Nil Remittance. Learn how to report a nil remittance to the CRA.
End tax remittances with Wave
You can choose to handle your tax remittances outside of Wave directly with the CRA. Ending tax remittances with Wave will stop all future tax payments.
To stop your tax service with Wave, open Mave, Wave’s automated chatbot, and request a Support Agent. Learn how to get support with Wave.
Learn how to view and track your payroll tax liabilities and payments.
To determine your CRA tax due dates, read Payroll tax remittance due dates.
For assistance with making tax payments, see the CRA article on payroll deductions and remittances.
Closing your business and tax responsibilities
If you are closing your business, there are several essential steps to ensure your tax obligations are settled, and your accounts are properly finalized.
- End your payroll tax service: If you have been using Wave to remit payroll taxes, ensure you have contacted support to stop this service.
- Close your payroll program account: Once you are no longer paying employees, contact the CRA to close your payroll program account. Wave cannot handle this on your behalf. Report a nil remittance if applicable. Learn more on the CRA’s website.
- File final tax returns: Upon closing your business, you are responsible for filing and distributing all final T4 slips and summaries, typically within 30 days of the closure date. Wave cannot assist with this process. Instead, submit these documents directly to the CRA.
- Retain your records: The CRA requires businesses to keep payroll and tax records for a specific period after closing. Before losing access to your payroll records, download and save all necessary reports, pay stubs, and tax forms from Wave for your files.
Reinstate tax remittances with Wave
If you have previously ended tax remittances with Wave, you can reinstate this service at any time. All tax payments due for payrolls that took place while inactive on Wave’s tax service will need to be paid outside of Wave with the CRA directly.
To reinstate your tax service with Wave, open Mave, Wave’s automated chatbot, and request a Support Agent. Mave will help collect any relevant details and direct you to the appropriate support. Learn how to get support with Wave.