Payroll for Contractors

Copyright 2014 Suresh Pereira

Payroll for Contractors

Risk Free Payroll

Risk Mitigation. Ask us how.

There are several concerns clients should have in engaging independent consultants directly. Our payroll services addresses these risks, and provides a very low cost solution to clients wishing to temporarily augment their workforce with consultants or other temporary expertise.

 

Paper Work Executed Between Contractor and Spyre:

  • Contains protection for  Gov’t regarding confidentiality, ownership of intellectual property etc.
  • Non solicitation clauses
  • Quality of work clause
  • Appropriate termination clauses

 

Highlighted Service Features:

  • Rapid payment to your contractors (usually net 7 business days) – The feedback we get universally from contractors is that this benefit is worth the service fee alone!
  • Single point of contact.
  • One window for  contracts,  invoices, payments, receivables, collections.
  • WSIB compliance.
  • One page SOW documents.
  • Extensive insurance coverage provided, including errors and omissions (professional liability), general liability, non-owned auto (most contractors do not have this), etc.
  • Painless renewals.
  • Arm’s length relationship with the consultant which provides insulation and dismisses any possible CRA concerns – Eg. Audit regarding employer/employee status  (which has become a focus point for CRA in the past year), and may be critical to your staffing model.
  • Collection and timely remittance of appropriate GST/HST. There is a potential risk to Gov’t  if any of your contractors do not remit their HST, or remit late.
  • Appropriate tax filing for all non-incorporated entities, including the creation and submission of T4A and T4A summary returns which are required by law.
  • Initiation and completion of security checks (background checks), if required.
  • Processing of time sheet and expense reports and submission, to include training to consultant, if required.
  • Regular communication and transmission of o/s items to Gov’t  internal audit for review, if required.
  • Multi-currency and currency risk management (ie, pay in USD for US contractors, invoice in Can).
  • Negotiation of rates with the consultant, if required.

Small pass through fee

 

Experience:

Several large enterprise payroll customers. References and client testimonials are available upon request. Please contact us for more information.