Stagecoach Payroll Solutions

Proper payroll auditing is critical regardless of the size of the business. During the time crunch of payroll processing, occasionally things get missed, calculated wrong, numbers get transposed, and sometimes even duplicated. Some areas to focus on:

• Correct employees are paid
• Employee payments are at authorized rates and for actual hours worked
• Employee deductions/reimbursements have been authorized
• Deductions and benefit amounts match vendor invoices
• Watch for overpayments
• Proper classification and setup of income, deduction, tax, benefit codes, etc
• Payments and reporting to third parties are made accurately and according to their corresponding deadlines

By no means is this an exhaustive list, but it points out some key areas to be mindful of both during processing and during your internal audit process.

Upcoming Minimum Wage Changes in Ontario – Effective October 1, 2025

Just a quick reminder that Ontario’s minimum wage rates are scheduled to increase this fall.

Student Minimum Wage
• Current rate: $16.20/hour
• Applies to students under 18 working 28 hours or less per week during the school year
• New rate as of October 1, 2025: $16.60/hour

General Minimum Wage
• Current rate: $17.20/hour
• New rate as of October 1, 2025: $17.60/hour

Please ensure your payroll systems are updated and your employees are informed ahead of the change.

For more info, please check out the link: https://www.ontario.ca/document/your-guide-employment-standards-act-0/minimum-wage

The Canada Employment Insurance Commission announced on September 13, 2024, that the maximum insurable earnings for 2025 will increase from $63,200 to $65,700. The EI premium rate is decreasing slightly from 1.66% to 1.64%, and the employer EI rate is also going down from 2.32% to 2.30%. In Quebec, the EI premium rate is dropping from 1.32% to 1.31%, and the employer EI rate will fall from 1.848% to 1.83%. Here is the link for more info: https://www.canada.ca/en/employment-social-development/news/2024/09/canada-employment-insurance-commission-confirms-2025-employment-insurance-premium-rate.html

The third quarter of 2024 is over. Audit NOW, and make sure your payroll is on track. Off track creates PIER reports and other headaches. Don't Wait for Christmas to audit your payroll. Year end approaches quickly, and the holiday season is not when you want to be auditing your payroll for errors. Enjoy December with friends and family, and know with certainty that your year end will be a breeze. If payroll isn't your thing, we're here to help.

Begin 2024 the right way. Making a switch from the way you currently process payroll at the beginning of the year makes for a smooth clean transition with few year to date entries to be concerned with. Just a fresh new beginning with a new provider.

We can put together a solution to meet your business needs. Visit us at www.stagecoachpayroll.ca to learn more about the solutions we offer.

Doing everything yourself may not be practical or cost effective for your business. How effectively do you manage YOUR time? Could you manage it better? Need some ideas? Here's a bit of payroll humour and insight to inspire you.

Time, Do You Have Enough? As a business owner, time is your only obstacle. You don’t have any more than anyone else, you don’t get any more than anyone else. You have 24 hours a day to accomplish your dreams, or not, there is no real maybe in this equation. You can get caught up in distractions that are not really import...

Are there rules for what should and shouldn't happen during Company time? What crosses the line into the realm of time theft? Check it out:

What Should and Shouldn’t Happen on Company Time? Time theft is always a fun topic to discuss, since Covid has changed the landscape of employees working remotely, this topic has been getting more attention in recent years. What is expected on Company time? Here is a CBC link that popped up in my feed that you may want to check out: https://www.cbc...

Here is a bit of payroll humour to remind you of some important stuff and make your day interesting. Check it out: https://www.stagecoachpayroll.ca/post/don-t-wait-for-christmas-to-audit-your-payroll

Don't Wait For Christmas to Audit Your Payroll! I’ve posted about this in the past on social media for a laugh, but it stands to be a simple truth. Don’t wait for Christmas to audit your payroll. Payroll is complex and has several moving pieces and involves many people and departments to function efficiently. Like having a Christmas party, no...

February is upon us and it's time to ensure your employees receive their 2022 T4's on time. Completing T4's can get complicated, so check out the article for information on completing and filing 2022 T4s.

The Intricacies of the 2022 T4 Slip The T4 slip or “Statement of Remuneration Paid” summarizes the earnings paid to an employee over a calendar year. It also shows other specific amounts that an employee will use later for income tax purposes. Boxes 57, 58, 59 and 60 are not used again this year, but are still required for any 202...