It is very important that file T4 slips on time to avoid heavy penalty from CRA by Accountant Woodbridge. Please see your Payroll Accountant Woodbridge ON as soon as possible for more information. You have to file an information return and give information slips to your employees by the last day of February following the calendar year to which the information return applies. Also you have remit payroll deductions by 15th of January to avoid penalty of 10% by CRA, Payroll Accountant Woodbridge ON. If the last day of February is a Saturday or Sunday, your information return is due the next business day by Payroll Accountant Woodbridge.
You may need to file early due to bankruptcy or if your business stops operating. In these situations you are required to file within 30 days following the last day that your business ceased all activities in woodbridge on.
Effective January 1, 2010, the penalty for failing to file an information return by the due date or for distributing slips to recipients late is the greater of $100 or a penalty determined as follows:
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