If your average monthly remittance in the 2^ndpreceding year was $24,500 you must remit amounts owed to the Canada Revenue Agency A) Annually B) Quarterly C) Monthly D) Semi-monthly (Accelerated 1) E) Weekly (Accelerated 2)

Question

Quizplus · Accepted Answer

Businesses with an average monthly withholding amount of more than $25,000 in the second preceding calendar year are required to remit monthly to the Canada Revenue Agency. Since $24,500 is less than $25,000, the correct remittance frequency is monthly.

If Your Average Monthly Remittance in the 2nd preceding Year

If Your Average Monthly Remittance in the 2^ndpreceding Year