Can I Afford a Nanny?  Based on 40 hours per Week.

PLEASE NOTE THAT ANY NEW APPLICATIONS SUBMITTED TO SERVICE CANADA ON OR AFTER DECEMBER 1, 2014, THE EMPLOYER CAN NOT DEDUCT FOR ROOM AND BOARD.



 


Below is a sample of what it might cost to hire a In-Home Lower Skilled Occupation (nanny).  Do remember that the Gross Weekly Wage of $450.00 is based on $11.25 per hour and a 40 hour Work Week, paid monthly.  DOES NOT INCLUDE STATUTORY HOLIDAYS, VACATION PAY OR WSIB CONTRIBUTIONS.  These figures reflect the Ontario Government changes made for Feb 26, 2016, using claim code “1” for deductions.  (We will try and keep you up-to-date of any changes to payroll.)

 

To find this calculator on the Canada Revenue web site, follow this link:   
http://www.cra-arc.gc.ca/esrvc-srvce/tx/bsnss/pdoc-eng.html
 

See  www.cra-arc.gc.ca for more information and an on-line calculator.  In the search engine of the web page type, "pdoc".
 


 

Sample ONLY-Payroll Deductions Online Calculator –

40 Hours per Week/Paid Monthly, Claim Code 1

 

Payroll Deductions Online Calculator

 

Results  - Effective Feb 26, 2016

 

   

 Salary calculation: Result
Employee's name: THE EMPLOYER
Employer's name: THE CAREGIVER
Pay period frequency: Monthly (12 pay periods a year)
Date the employee is paid: 2016-02-29 (YYYY-MM-DD)
Province of employment: Ontario
Federal amount from TD1: Minimum - 11,474.00 (Claim code 1)
Provincial amount from TD1: Minimum - 10,011.00 (Claim Code 1)

Salary or wages income   1,950.00  
Total cash income     1,950.00
Taxable income for the pay period   1,950.00  
Pensionable earnings for the pay period   1,950.00  
Insurable earnings for the pay period   1,950.00  
Federal tax deduction 116.75    
Provincial tax deduction 67.35    
Total tax deductions   184.10  
CPP deductions   82.09  
EI deductions   36.66  
Total deductions     302.85
Net amount     1,647.15
 
Year-to-Date Amounts Inputted Value Total for this Record
Pensionable earnings 0.00 1,950.00
CPP contributions 0.00 82.09
Insurable earnings 0.00 1,950.00
EI premiums 0.00 36.66
The printed calculations created by PDOC are not intended to be used as a statement of earnings. Please contact your employment standards representative for all of the information legally required on a statement of earnings specific to your province or territory.
 
 
 
 
Salary calculation: Employer remittance summary
Employee's name: THE EMPLOYER
Employer's name: THE CAREGIVER
Pay period frequency: Monthly (12 pay periods a year)
Date the employee is paid: 2016-02-29 (YYYY-MM-DD)
Province of employment: Ontario
Canada Pension Plan (CPP)
Employee CPP contributions 82.09  
Employer CPP contributions 82.09  
Subtotal of Canada Pension Plan (CPP)   164.18
Employment Insurance (EI)
Employee EI contributions 36.66  
Employer EI contributions 51.32  
Subtotal of Employment Insurance (EI)   87.98
Tax deductions   184.10
For this calculation, remit this amount   436.26

Canada Pension Plan (CPP)
The employer contribution is an amount equal to the total of the employee's contribution.
Employment Insurance (EI)
The employer's premium is an amount equal to 1.4 times the total of the employee's premiums, unless a reduced rate applies.
The printed calculations created by PDOC are not intended to be used as a statement of earnings. Please contact your employment standards representative for all of the information legally required on a statement of earnings specific to your province or territory.
 
 
 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

                                
                                

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


The above information is based on Ontario rate of $11.25 per hour, for a 40 hour work week, paid monthly, using claim code 1, to your caregiver. (Caring Nanny Agency advises to use a professional payroll accountant to do your payroll calculations.  This is in no way the exact figures, but a guide to work by to help you calculate your monthly budget for child care or elder care expenses.)

 

 

 Therefore, the total cost to employ a Foreign  In-Home Caregiver at 40 hours per week, paid monthly would be:  $1,647.15

 

 Canada Revenue Agency will require you to submit the Federal & Provincial Tax deductions, Canada Pension Plan and Employment Insurance that are to be deducted from your caregiver’s pay.  As an employer you will also be required to make a monthly employer for CPP & EI.  See calculation below…

 

 
 
 
 

 

THEREFORE A ROUGH EXAMPLE OF THE COST OF A IN-HOME CAREGIVER IS $1,647.15  (CAREGIVER'S NET MONTHLY SALARY) + $436.26 (GOVERNMENT REMITTANCE) = $2,083.41

ESTIMATED MONTHLY BUDGET FOR A tEMPORARY FOREING IN-HOME CAREGIVER, WITH AN AVERAGE WORK WEEK OF 40 HOURS PER WEEK, IS
$2,083.41 


PLEASE NOTE THAT THIS IS ONLY A ROUGH EXAMPLE AND SHOULD NOT BE TAKEN AS ACTUAL FIGURES.  CARING NANNY AGENCY ALWAYS ADVISES TO HIRE A PROFESSIONAL PAYROLL ACCOUNTANT WHEN CALCULATING PAYROLL, TAX DEDUCTIONS, STATURORY HOLIDAYS, VACATION, CPP AND EI DEDUCTIONS. 



Overtime Pay

You must be paid overtime pay after 44 hours of work each week. The overtime rate must be at least 1½ times the regular rate of pay.

Minimum Wage

The minimum wage is the lowest hourly rate an employer can pay an employee. Currently the minimum wage is $11.25 per hour, effective Oct 1, 2015.  

 

Your gross pay, before deductions, must be at least minimum wage. By law, your employer must deduct Income Tax, Canada Pension Plan (CPP), and Employment Insurance (EI) from your total pay and your employer must make CPP and EI Contributions for you.

 

If you and your employer agree that you will receive a wage greater than the minimum wage, then that is the amount you are entitled to receive.
 

Sample: In-Home Higher Skilled Occupation (Caregiver for Elder Care or Disabled).  Do remember that the Gross Weekly Wage of $550.40 is based on $13.76 per hour and a 40 hour Work Week, paid monthly.  DOES NOT INCLUDE STATUTORY HOLIDAYS, VACATION PAY OR WSIB CONTRIBUTIONS.  These figures reflect the Ontario Government changes made for Feb 26, 2016, using claim code “1” for deductions.  (We will try and keep you up-to-date of any changes to payroll.)

 

To find this calculator on the Canada Revenue web site, follow this link:   
http://www.cra-arc.gc.ca/esrvc-srvce/tx/bsnss/pdoc-eng.html
 

See  www.cra-arc.gc.ca for more information and an on-line calculator.  In the search engine of the web page type, "pdoc".

Salary calculation: Result
Employee's name: THE EMPLOYER
Employer's name: THE CAREGIVER
Pay period frequency: Monthly (12 pay periods a year)
Date the employee is paid: 2016-02-29 (YYYY-MM-DD)
Province of employment: Ontario
Federal amount from TD1: Minimum - 11,474.00 (Claim code 1)
Provincial amount from TD1: Minimum - 10,011.00 (Claim Code 1)

Salary or wages income   2,385.07  
Total cash income     2,385.07
Taxable income for the pay period   2,385.07  
Pensionable earnings for the pay period   2,385.07  
Insurable earnings for the pay period   2,385.07  
Federal tax deduction 177.55    
Provincial tax deduction 95.82    
Total tax deductions   273.37  
CPP deductions   103.62  
EI deductions   44.84  
Total deductions     421.83
Net amount     1,963.24
 
Year-to-Date Amounts Inputted Value Total for this Record
Pensionable earnings 0.00 2,385.07
CPP contributions 0.00 103.62
Insurable earnings 0.00 2,385.07
EI premiums 0.00 44.84
The printed calculations created by PDOC are not intended to be used as a statement of earnings. Please contact your employment standards representative for all of the information legally required on a statement of earnings specific to your province or territory.
 
 
 
 
Salary calculation: Employer remittance summary
Employee's name: THE EMPLOYER
Employer's name: THE CAREGIVER
Pay period frequency: Monthly (12 pay periods a year)
Date the employee is paid: 2016-02-29 (YYYY-MM-DD)
Province of employment: Ontario
Canada Pension Plan (CPP)
Employee CPP contributions 103.62  
Employer CPP contributions 103.62  
Subtotal of Canada Pension Plan (CPP)   207.24
Employment Insurance (EI)
Employee EI contributions 44.84  
Employer EI contributions 62.78  
Subtotal of Employment Insurance (EI)   107.62
Tax deductions   273.37
For this calculation, remit this amount   588.23

Canada Pension Plan (CPP)
The employer contribution is an amount equal to the total of the employee's contribution.
Employment Insurance (EI)
The employer's premium is an amount equal to 1.4 times the total of the employee's premiums, unless a reduced rate applies.
The printed calculations created by PDOC are not intended to be used as a statement of earnings. Please contact your employment standards representative for all of the information legally required on a statement of earnings specific to your province or territory
 

 


 

 

 

 

 

 

 

   

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

                                
                                               

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


The above information is based on Ontario rate of $13.76 per hour, for a 40 hour work week, paid monthly, using claim code 1, to your caregiver. (Caring Nanny Agency advises to use a professional payroll accountant to do your payroll calculations.  This is in no way the exact figures, but a guide to work by to help you calculate your monthly budget.  Budget for a minimum of $1,963.24  (net pay of caregiver) + $588.23 (tax remittance to CRA) = $2,551.47 per month. 
 

 


Overtime Pay

You must be paid overtime pay after 44 hours of work each week. The overtime rate must be at least 1½ times the regular rate of pay.

Minimum Wage

The minimum wage is the lowest hourly rate an employer can pay an employee. Currently the minimum wage is $13.76 per hour, effective Nov 1, 2015, for this type of job.  

 

Your gross pay, before deductions, must be at least minimum wage. By law, your employer must deduct Income Tax, Canada Pension Plan (CPP), and Employment Insurance (EI) from your total pay and your employer must make CPP and EI Contributions for you.

 

If you and your employer agree that you will receive a wage greater than the minimum wage, then that is the amount you are entitled to receive.



For more details see on the Ontario Labour Laws and to learn more about other things like what days are statutory holidays, go to:
http://www.labour.gov.on.ca/english/es/

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