TAX QUESTIONS? YOU ASK LAH!

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Q: I am a sole proprietor with 4 employees. I have employed them since January 2025, but I did not prepare any written employment contracts for them. Am I required to pay any stamp duty?

A: If there has never been any written and executed employment contract, there is no chargeable instrument and therefore no stamping is required. However, if you wish to formalise the employment relationship with a written employment contract, the employment contract executed will be subject to stamp duty. 

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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