Owner Operator Total Costs Budget

Well they want you to open a company so they can pay the company so they do not have to deal with tax deduction from your paycheque. You will be doing your taxes at the end of the year. I am from Ontario too.

 

so inanother words you will be responsible for ALL withholdings, incl. employers match.

 

there won't be any employer match because you won't be an employee. You will be an independant contractor so you will be self employed and ill have to pay your own taxes.

 

The contractor/shafted employee will still have to pay the employer's match MM. We all do as owner operators. We just call it the "self employment tax". Same thing, just different wording.

I can't comment as to canadian laws, but I know the IRS has been cracking down on companies in this country for the past few years for doing what you are describing. It is an illegal practice per IRS code, but it has been a widely used and accepted practice in this industry for many years.

 

I know that, which is why I mentioned self employment. What I don't know is Canadian tax law so I was basically saying you're self employed and responsible for all the applicable taxes associated with such.

 

yes they are. don't just look at them on truck paper. go seriously talk to the sales guys. they will give out dates with there wives to sell you a truck they are overflowing with them.