[Verse 1]
When you hire that first employee for your consulting crew
Salaries and wages paid become deductible too
But don't forget the extras that the government demands
CPP and EI portions coming from your hands
[Chorus]
Employee costs pile up but they're deductions you can claim
Salaries, benefits, training - remember every name
CPP, EI, compensation for the pain
WorkSafe premiums, group insurance - tax relief is your gain
[Verse 2]
Canada Pension Plan matching what your worker pays
Employment Insurance too - it's mandatory these days
Four point nine five percent for CPP you'll match
Two point two one for EI - keep your records in the batch
[Chorus]
Employee costs pile up but they're deductions you can claim
Salaries, benefits, training - remember every name
CPP, EI, compensation for the pain
WorkSafe premiums, group insurance - tax relief is your gain
[Verse 3]
Group benefits you offer like dental, health, and more
Workers' compensation premiums - provincial law's the core
Training courses for your staff to sharpen up their skills
All legitimate expenses that can slash your tax bills
[Bridge]
From gross pay to group coverage
Every penny has its place
Documentation saves you money
When the taxman shows his face
[Chorus]
Employee costs pile up but they're deductions you can claim
Salaries, benefits, training - remember every name
CPP, EI, compensation for the pain
WorkSafe premiums, group insurance - tax relief is your gain
[Outro]
So when you grow your consulting firm and bring on helping hands
Remember all these costs are part of CRA's tax plans