Can I remit source deduction payments to CRA directly?
The Income Tax Act requires employers whose monthly source deduction remittances exceed $50,000 to make their payments at a financial institution by the business day they are due. This is to ensure that the payments are immediately credited to the Government of Canada. Some employers have been making their remittances directly to CRA, with the result that the deposit was often delayed until the next business day, which might occur two or even three days later.
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- Can I remit source deduction payments to CRA directly?
