Answers

Remittance

A remittance is an amount of money sent to the Canada Revenue Agency for the employee’s deductions (federal and provincial income tax, CPP and EI premiums) and the employer’s CPP and EI premiums.

This remittance is due by the 15th of the month for the previous calendar month and can be sent in a variety of ways, such as:

• Online or telephone banking

• The CRA website using the “My Payment” option

• A third-party service provider

• At a financial institution

• Mailing in a cheque or money order