Читать книгу 19 Ways to Survive in a Tough Economy - Lynn Spry - Страница 21

In Canada, if you haven’t filed or paid your employees’ payroll taxes — that is, money that comes out of the employees’ paychecks to pay income tax, Canadian Pension Plan (CPP), and Employment Insurance (EI) — and have only been paying the employees their after-tax salaries, you may end up paying a penalty.

It won’t take long before Canada Revenue Agency (CRA) sends you a letter indicating that the payroll taxes have not been filed. This may seem like an easy letter to ignore; however, if you choose to ignore your taxes and not file, you will have a big problem.

CRA may assess a penalty of 10 percent of the required amount you failed to deduct for income tax, CPP, and EI. If you fail to file again in a calendar year, CRA may apply a 20 percent penalty, especially if you knowingly made the decision to not deduct the payroll taxes. You could also be fined $1,000 to $25,000 or be imprisoned for up to a year.