[Verse 1] When you pay yourself a salary through your Canadian corp There are three obligations you cannot ignore First thing first, you gotta register with CRA Set up that payroll account right away Don't think you can skip it, don't think you can hide The taxman's watching from the government side [Chorus] Register, deduct, and remit on time Three payroll duties keep you in line CPP, EI, income tax too Take it at source, that's what you gotta do Monthly or quarterly, send it their way By February's end, file your T4A [Verse 2] Second obligation, deduction's the game Canada Pension, Employment Insurance name Income tax withheld from every single pay Calculate it right, don't let it slide away At the source you take it, before they see their check Keep those records straight, avoid a financial wreck [Chorus] Register, deduct, and remit on time Three payroll duties keep you in line CPP, EI, income tax too Take it at source, that's what you gotta do Monthly or quarterly, send it their way By February's end, file your T4A [Bridge] T4 slips for employees, T4A for contractors February deadline, don't be a procrastinator Volume determines if you pay each month High or low amounts, don't let the system stomp [Verse 3] Third obligation, remittance is key Send those deductions to CRA Monthly for large amounts, quarterly if small Miss the deadline and you'll hit a wall T4 Summary with your slips must go Last day of February, this you must know [Chorus] Register, deduct, and remit on time Three payroll duties keep you in line CPP, EI, income tax too Take it at source, that's what you gotta do Monthly or quarterly, send it their way By February's end, file your T4A [Outro] Three simple steps to keep you compliant Register, deduct, remit - be self-reliant Canadian payroll doesn't have to be tough Follow these rules and you'll have enough
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