91´«Ã½

Definitions

Business Entity — A corporation, partnership, or sole proprietorship.

Business Income — Payments made to an independent contractor. Business income is not subject to any deductions at source. Income is reported on a T4A form. HST may be applicable and is calculated and paid based on the payment amount.

Campus Human Resources Designate — Senior administrator at each campus who has authority in certain human resources policy decisions. The policy Authority assigns, in writing, the Campus Human Resources Designate.

Corporation — A legal entity incorporated within the laws of federal or provincial jurisdiction. The corporation is usually identified by an operating name followed by the words "limited", "corporation", or "incorporated".

CRA — Canada Revenue Agency. A department of the Government of Canada responsible for overseeing tax legislation related to employee and independent contractor status.

Employee — An individual who performs services for an employer under a contract of services.

Employment Income — Payments made under an employee/employer relationship. Employment income is subject to income tax deduction at source, as well as deductions for Canada Pension Plan (CPP) and Employment Insurance (EI) and Worker's Compensation (WC). Income is reported on a T4 form.

Independent Contractor — A business entity or individual providing services under a contract for services.

Partnership — A partnership is an association or relationship between two or more individuals who join together to carry on a trade or business.

Sole Proprietorship — An unincorporated business that is owned by one person and can operate as an individual or as a registered unincorporated business.

Unincorporated Business — Does not have limited liability and is not recognized as a separate legal entity by CRA and the Income Tax Act.

Unit Head — For the purposes of this policy, unit head is the term used to mean Deans, Department Heads, Division Heads, Heads of Schools, Directors, Executive Directors, the University Librarian, the University Registrar, Associate Vice-Presidents and Vice-Presidents, as applicable.

University — 91´«Ã½.

Procedures:

There are no procedures associated with this policy.