The Canadian Payroll Association Commends the Ontario Government for its Commitment to Streamlining Remittances
Tuesday, October 12, 2021 8:00:00 AM
- Proposed change will reduce administrative costs and burden by giving businesses a more
efficient process for submitting premiums. -
The Canadian Payroll Association commends the Ontario government on its recent commitment to enable the Workplace Safety and Insurance Board (WSIB) to work with the Canadian Revenue Agency (CRA) to streamline remittances for businesses. The proposed change will go a long way in reducing administrative burden for employers by giving businesses an efficient one-stop-shop for submitting payroll deductions.
Last week, the Honourable Monte McNaughton, Minister of Labour, Training and Skills Development, announced that the government will introduce new legislation to help employers cope with the impacts of COVID-19 — which includes a simplification of the remittance process that would allow WSIB premium collection to be administered through CRA.
This new approach directly reflects recommendations made by the Canadian Payroll Association and the positive results realized by Quebec and Nova Scotia, the only other provinces to have taken such an approach to-date.
"This announcement is a positive step for employers, employees and government alike," says Peter Tzanetakis, President of the Canadian Payroll Association. "Streamlining the remittance process will deliver significant benefits. Employers would no longer need to administer remittances to both the CRA and WSIB, and as a result are less likely to be fined for non-compliance."
A collaboration between WSIB and the CRA would result in the following:
- Increased employer awareness of their obligations, in turn increasing compliance.
- Increased revenue to WSIB through greater compliance, which in turn can lead to lowering premiums for employers.
- Decreased administrative burden on employers.
The Association will continue to work with the Ontario government and the CRA to move this initiative forward.
SOURCE: Canadian Payroll Association