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Late Payroll Remittances

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Business -> Late payroll remittances

Will I be penalized if my payroll tax remittances are late?

You will be charged high penalties if your payroll tax remittances are late, so make sure you set up a system to ensure they are paid on time. The penalty amounts were reduced in 2003, but are still extremely high. See the CRA web page on penalties, interest, and other consequences.

CRA also charges penalties for failing to deduct or withhold payroll taxes as required. The minimum penalty is 10%, and 20% will be charged when the failure to deduct was made knowingly or because of gross negligence.

For more information on payroll deductions, see the CRA web page on Payroll.

Tax tip: Be organized, and always remit your payroll taxes on time. Better to pay a day early than to be late!

Revised: July 19, 2010

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