The organizations’ Controller has received a notice from the Canada Revenue Agency (CRA) advising that the...

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Accounting

The organizations’ Controller has received a notice from theCanada Revenue Agency (CRA) advising that the organization will bechanging from an Accelerated threshold 1 remitter to an Acceleratedthreshold 2 remitter effective with the first pay of the new year.The Controller has asked you to provide an explanation of why thischange has occurred. In addition, she wants to understand how thiswill impact the statutory remittance schedule. Using the CurrentYear calendar in the course material, provide specifics of when theremittances are due for the January and February bi-weekly payrollsstarting with the first pay date of the new year which is FridayJanuary 5th.

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The reason that she was advised by the CRA that she will have to change from Accelerated threshold 1 remitter to an Accelerated threshold 2 remitter is because the employees pay frequent of Acceleratd threshold 2 remitter is based on biweekly not semimonthly There are two categories of accelerated remitters Threshold 1 Employers with twoyear AMWA of 25000 9999999 See Answer

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The organizations’ Controller has received a notice from theCanada Revenue Agency (CRA) advising that the organization will bechanging from an Accelerated threshold 1 remitter to an Acceleratedthreshold 2 remitter effective with the first pay of the new year.The Controller has asked you to provide an explanation of why thischange has occurred. In addition, she wants to understand how thiswill impact the statutory remittance schedule. Using the CurrentYear calendar in the course material, provide specifics of when theremittances are due for the January and February bi-weekly payrollsstarting with the first pay date of the new year which is FridayJanuary 5th.