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What are Source Deductions?

Source deductions are the sum of the deductions taken off an employee's paycheque from the employer (hint: that's you), plus the employer's requirement of CPP contributions and EI premiums. The employee deductions are federal and provincial income taxes, CPP contributions, and EI premiums. 

  Do I have to remit my source deductions?

As an employer, it is your responsibility to remit your caregiver's CPP contributions and EI premiums, as well as your employee's federal and provincial tax deductions. It's important to remit these deductions to the CRA on or before the remittance due date each month in order to avoid expensive penalties and interest charges. For remittance due dates, visit our Canadian Tax Deadlines page.

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