Chp 5 - Provincial Remittances & Recs Flashcards
When must Quebec employers register with RQ?
- If they have at least one employee working in Quebec
- If they have an employee who doesn’t work in Quebec, but they are paid from the establishment within Quebec
Who are statutory deductions withheld from Quebec employees held in trust for?
The Receiver General of Canada & RQ
RQ annual remitter type definition
< $2,400 in the previous yr & not expected to be > $2,400 in the current year
RQ quarterly remitter type definition
- < $3,000
- fulfilled all fiscal obligations for source deductions in the last 12 months
- new employers < $1,000
RQ monthly remitter type definition
< $25,000
RQ twice monthly remitter type definition
> $25,000 but less than $100,000
RQ Weekly remitter type definition
> $100,000
RQ annual remitter type due date
January 15th of the following year
RQ quarterly remitter type due dates
- 15th day of the month FOLLOWING the quarter
- for the Oct-Dec qrt it’s Jan 15th of the following year
RQ monthly remitter type due date
15th of the FOLLOWING month
RQ twice-monthly remitter type due date
- 1st-15th is due the 25th of the SAME month
- 16th to eom is 10th of the FOLLOWING month
RQ weekly remitter type due dates
- 7th, 14th, 21st, EOM are last day in periods
- third business day after the last day in each period
RQ late remittance interest rates
- 7% for the 1-7 days
- 11% for 8-14 days
- 15% as of the 15th day
RQ failure to file penalties
- $25 per day to a max of $2,500
- these are in addition to daily interest
Which provinces finance their health care through employer taxes
- BC
- Manitoba
- Newfoundland
- Ontario
- Quebec
BC employer health tax criteria
- payroll > $500,000
- charities & non-profits with payroll > $1.5 million
BC health tax formula - regular employers between $500,000.01 - $1.5 million
(Assessable remuneration - $500,000) x 2.925%
BC health tax formula - regular employers over $1.5 million
Assessable remuneration x 1.95%
BC health tax formula - charities between $1,500,000.01 and $4.5 million
(Assessable remuneration - $1.5 million) x 2.925%
BC health tax formula - charities over $4.5 million
Assessable remunerations x 1.95%
Nunavut & NWT payroll tax rate
2%
When are REGULAR employers with payrolls over $600k required to submit their BC Employers Health Tax premiums?
Quarterly on:
- June 15h
- Sept 15th
- Dec 15th
- March 31st - final payment w/annual return
When are non-profit employers with payrolls over $1.6 mil required to submit their BC Employers Health Tax premiums?
Quarterly on:
- June 15h
- Sept 15th
- Dec 15th
- March 31st - final payment w/annual return
Do employers with a payroll under $1.5 mill pay the Manitoba Health & Post-Secondary Education Tax Levy?
No, they’re exempt
What’s the calculation for the Manitoba Health & Post Secondary Edu Tax for employers with a payroll between $1,500,000.01 - $3 mil?
(TAR - 1.25 mil) x 4.3%
What’s the calculation for the Manitoba Health & Post Secondary Edu Tax for employers with a payroll over $3 mil?
TAR x 2.15%
THE FIRST 1.5 MIL IS NOT DEDUCTED
What is the formula for the Newfoundland Health &
Post-Secondary Edu Tax for employers with a payroll over $1.3 mil?
(TAR - 1.3 mil) x 2%
Do employer with a payroll under $1.3 mil pay the Newfoundland Health & Post-Secondary Edu Tax?
No, they are exempt
When are Newfoundland Health & Post-Secondary Edu Tax payments due?
By the 20th of the month FOLLOWING the month the renumeration was paid
What’s the Ontario Health Tax formula for employers with a payroll over $400k?
(TAR - 1 mil) x 1.95%
