The cost of hiring an overseas nanny - Payroll Chart
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The Cost of Hiring an Overseas Nanny

Most people have never considered hiring a live-in nanny/caregiver because they believed it would be too expensive for their family to afford. However, the truth surprises most families who contact OCR.

A live-in Nanny/Caregiver is actually far more cost effective with increased flexibility, especially if the family has multiple children in daycare, a family member with special needs, or an elderly loved one in a nursing home.

The detailed payroll chart below was designed to give you a better understanding of the monthly cost of having a full time live-in nanny. Please contact the Canada Revenue office in your area for the prevailing rate.

Base on Bi-Weekly Payroll    -   New Payroll Deductions Online Calculator for June 1, 2015 

Ontario

Standard hours of work per week (40 hrs x 2 wks) 80
Hourly rates:  $11
Gross Bi-Weekly Wages: $880.00
Room and Board - FREE (With the new changes employers can't deduct Room & Board) 0

Deductions & contribution from Nanny/Caregiver salary & employer remittance to CCRA...

Employer Bi-Weekly Contribution:

Canada Pension Plan (CPP): $36.90
Employment Insurance (EI): $23.16
Total Employer Contribution to CCRA:  $60.06

 

Nanny/Caregiver Bi-Weekly Contribution:

Federal Tax:  $52.02
Provincial Tax: $29.23
Canada Pension Plan (CPP) $36.90
Employment Insurance (EI) $16.54
Total Nanny Contribution to CCRA: $134.69
   
Employer Bi-Weekly remittances to CCRA: $194.75
Net Bi-Weekly pay to Nanny/Caregiver: $745.31
Total Bi-Weekly cost - employer: $940.06

Total Monthly cost of having a Nanny/Caregiver in your household (based on 4 weeks): (Net monthly salary $1,614.83 + Taxes $421.97)

 $2,036.80