Inspired by such groups as the Kings Singers, The Real Group, Single Singers, and Rajaton, they have developed a repertoire of songs covering everything from classical to country, and have performed for thousands at festivals, weddings, retirement homes, and other events. Bonus Track presents beautiful vocal harmony and entertainment that can touch the heart, the mind, and even the funny bone! What a joy it was to be a part of this great event!
The weather was perfect under our shade tree, and the crowd was enthusiastic! It was fun to sing some of our favorites from our repertoire for such a receptive audience. Things went well and we've been invited back! Are the overtime amounts paid in the same period in which it was worked? When the overtime is paid in a later pay period, you should treat the overtime pay as a bonus.
Deductions are to be made using the bonus and retroactive pay increases method. That brings us back to the bonus method we already discussed. We know how to calculate income tax using the bonus method. Retiring allowances or certain payments out of registered plans such as Registered Retirement Savings Plans, Registered Pension Plans, etc.
Many payers think that anytime they make a one-time payment the taxes should be withheld using these lump sum rates. However, the lump sum tax rates apply to these very specific types of payments only. Rates are dependent on the amount of the payment. Therefore, combine all lump-sum payments that have been or are expected to be paid in the calendar year when determining the composite rate to use.
There are different rates if the payments are made in Quebec. For more information on Quebec rates, please visit our website. Now that we have an understanding of the different types of payments and how to withhold income tax on them, we will discuss how to remit your payroll deductions. To remit your payroll deductions, you will have to register for an account with the CRA.
So, in this section of our webinar, we will look into registration of a Business and Payroll account with the CRA and make your remittance or payment to the CRA. You have to register for a payroll program account before the first remittance due date. If you already have a business number BN , you only have to add a payroll account.
If you do not have a BN, you have to register for a BN and a payroll account. You will have to have some personal and business information handy to complete the application process.
Now that you have registered for your payroll account let us talk more about how and when to remit. It is very important to note that the amounts the employer withholds from their employees are funds held in trust for the Government of Canada. The CRA does not specifically require the employer to keep the funds in a separate bank account, but they must be held separate and apart from the business operating funds.
Together, these will form the remittance amount that the employer must send to the CRA. The PDOC can help you figure out your share, as well. At the bottom of the results page, you have the option to print an employer remittance summary. It is important to understand that it does not matter when the employee worked.
What matters is when the employer paid the employee because that is the date that the employer withheld the source deductions. Employers have to remit these amounts to the CRA on a regular basis. How often an employer remits their source deductions depends on when they pay their employees and how much they withhold. If the due date is a Saturday, Sunday or a public holiday, your remittance is due the next business day.
There are different types of remitters that are determined by your average monthly withholding amount of two calendar years ago. Most new employers are regular remitters. That means that they have to make their remittance to the CRA no later than the 15th of the month following the month in which they withheld the source deductions.
For example, for the month of September, if an employee is paid weekly on Fridays, the employer withholds the source deductions every Friday. As a regular remitter, the employer must add up all the amounts withheld during the month of September, plus add their portion of CPP and EI, and remit that amount to the CRA by October 15, If the CRA receives the remittance later than the 15th, the employer may have to pay a penalty and interest on the late payment.
Starting in , certain new employers will be able to remit their payroll deductions on a quarterly basis. Please keep in mind that this probably will not apply to you unless your first pay date is after December 31, Mannak Hunt Get this album or track at:.
Celebration Get this album or track at:. I Was Not Brave Get this album or track at:. Night of the Tiger Get this album or track at:.
Lead Them Get this album or track at:. Terror Birds Get this album or track at:. Wounded Hunter Get this album or track at:. Investing With CDs. CDs vs. Other Financial Products. CD Rates. At maturity, a promotional CD usually renews into a standard CD of the same maturity with the standard posted CD rate.
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