Thursday, October 24, 2019
Have you received late remittance penalties due to statutory remittances made after year-end as a result of T4 year-end adjustments? Are you aware of the new legislative policy from CRA that will allow employers to make a final remittance as part of their year-end filing without incurring late payment penalties? A change is being introduced starting with the 2019 tax filing year, which will allow employers to make a final payment on filing under certain conditions. This new policy, called Payment on Filing (PoF), is the result of the CPA's advocacy initiatives.