News release Ottawa, Ontario, November 24, 2006….The Canada Revenue Agency (CRA) today took serious exception to allegations that it treats some taxpayers unfairly. The CRA clarified its application of the mandatory bank remitting penalty to enforce timely remittance of source deductions to the Government of Canada. The Income Tax Act requires employers whose monthly source deduction remittances exceed $50,000 make their payments at a financial institution by the business day they are due. This is to ensure that the payments are immediately credited to the Government of Canada. Some employers have been making their remittances directly to the CRA, with [More]