In: Accounting
Payroll. Canada.
The organizations’ Controller has received a notice from the
Canada Revenue Agency (CRA) advising that the organization will be
changing from an Accelerated threshold 1 remitter to an Accelerated
threshold 2 remitter effective with the first pay of the new year.
The Controller has asked you to provide an explanation of why this
change has occurred.
In addition, she wants to understand how this will impact the
statutory remittance schedule. Using the Current Year calendar in
the course material, provide specifics of when the remittances are
due for the January and February bi-weekly payrolls starting with
the first pay date of the new year which is Friday January 5th.