Chp 5 - Provincial Remittances & Recs

Question 1

RQ annual remitter definition

Answer 1

• previous year < $2,400

- not expected to be > $2,400 in the current year

Question 2

RQ quarterly remitter definition

Answer 2

• < $3,000

- new employers < $1,000

Question 3

RQ monthly remitter definition

Answer 3

< $25,000

Question 4

RQ twice monthly remitter definition

Answer 4

> $25,000 but less than $100,000

Question 5

RQ weekly remitter definition

Answer 5

> $100,000

Question 6

Remittance schedule for RQ annual remitters

Answer 6

Jan 15th of the FOLLOLWING year

Question 7

Remittance schedule for RQ quarterly remitters

Answer 7

15th of the month FOLLOWING the quarter

Question 8

Remittance schedule for RQ for monthly remitters

Answer 8

1st to the EOM is remitted on the 15th of the FOLLOWING month

Question 9

Remittance schedule for RQ twice monthly remitters

Answer 9

• 1st - 15th is remitted due the 25th of the SAME month

- 16th - EOM is remitted 10th of the FOLLOWING month

Question 10

Remittance schedule for RQ weekly remitters

Answer 10

3 business days after the last day in the weekly period

Question 11

What are the RQ failure to remit penalty amounts?

Answer 11

• 7% for the 1st-7th days
• 11% for the 8th-14th days
• 15% as of the 15th day

Question 12

What is the RQ penalty for failure to file?

Answer 12

• $25/day to max $2,500

- this is in addition to interest owing

Question 13

Which provinces fund their health care through employer health taxes?

Answer 13

• BC
• Manitoba
• Newfoundland
• Ontario
• Quebec

Question 14

What is the BC Health Tax exemption for regular employers?

Answer 14

$500,000

Question 15

What is the BC Health Tax exemption for charities & non-profits?

Answer 15

$1.5 mil

Question 16

What is the BC Health Tax rate for regular employers with payroll > $5,000 to 1.5 mil?

Answer 16

2.925% & the exemption applies

Question 17

What is the BC Health tax rate for regular employers with payroll > 1.5 mil?

Answer 17

1.95% & NO exemption applies

Question 18

What is the BC Health tax rate for charities with payroll > 1.5 mil to 4.5 mil?

Answer 18

2.925% & the exemption applies

Question 19

What is the BC Health tax rate for charities with payroll > 4.5mil?

Answer 19

1.95% & NO exemption applies

Question 20

What’s the exemption amount for the Manitoba Health & Post Secondary Education tax?

Answer 20

The first 1.5 mil is exempt.

Question 21

What is the Manitoba Health & Post Secondary Education Tax rate for employers with payroll between 1,500,000.01 - 3mil?

Answer 21

4.3% & the exemption applies

Question 22

What is the Manitoba Health & Post Secondary Education Tax rate for employers with payroll over 3 mil?

Answer 22

2.15% & NO exemption applies

Question 23

What is the exemption amount for the NFL Health & Post Secondary Education Tax?

Answer 23

The first 1.3mil is exempt.

Question 24

What is the NFL Health & Post Secondary Education Tax rate?

Answer 24

2% on any amount remaining after the exemption

Question 25

What is the Ontario Employer Health Tax rate for employers with payroll > $400k?

Answer 25

1.95%

Question 26

Who receives a $100k exemption for the Ontario Employer Health Tax?

Answer 26

• Private sector employers with payroll < 5mil
• Charities
• Crown corporations

Question 27

When are Ontario Employer Health Tax monthly remittance instalments due?

Answer 27

By the 15th of the FOLLOWING month.