Each year, Canadian businesses are slammed with high fines due to negligent payroll errors. Non-compliance with payroll regulations can result in penalties ranging from $1,000 to $25,000, depending on the severity and duration of the mistake. Staying compliant with the CRA’s requirements is crucial to avoid these costly penalties and avoid a lengthy audit, but it requires careful attention to detail and accurate recordkeeping. Whether you’re a budding payroll professional or a manager taxed with running payroll, our Canadian Payroll Checklist will guide you through the 7 key steps to mastering payroll compliance.