Finally! I got bored after a few days of consecutively checking the website, so I waited until the weekend to check it once again. It seems like the PDOC is working perfectly now and boy am I glad I waited! The PDOC is payroll calculating heaven! For a company like mine, where I am just paying myself and don’t require benefits or bonuses, all you need know is your gross income for the pay period in question. The remaining portions that you need to fill out are self explanatory.
The only thing I couldn’t really find on the net was, “Is Vacation Pay mandatory?” I don’t believe it is, specially in a situation like mine in which I don’t necessarily need to give myself this extra bit. I sent an e-mail to a former boss and friend of mine to see if he could help me out with this question. I will let you all know when he gets back to me. However, for the sake of completing the forever pending CRA form, I went on the safe side and decided to calculate vacation pay anyway. This is one calculation that the PDOC does not do for you. For those of you who DO want to include vacation pay, it is quite simple. The rates of vacation pay differ for each province and can be found here. For British Columbians, the rate is 4% of the paid amount for that period.
Ah! Satisfaction! I have finally completed the Statement of Account (PD7A) which I now realize was super easy. However, I realize there is yet another problem. The way that they state the remittance due date is quite confusing.
“We must receive deductions made during the month or quarter by the 15th day of the following month” – from the back of the PD7A form
So if the pay period is May 01 to May 15, would the payment be due by June 15? This sounds like a stupid questions, I know, but when it comes to government issues I am always extremely nervous and careful. I believe the answer to the above question is “Yes”, but I will confirm with the CRA tomorrow. Happy “payrolling” to the rest of you for now.
