Remittance voucher for Payment on Filing (PoF) Source Deductions – PD7R
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What is a PD7R
The PD7R is a payment voucher that is generated as per your request.
The PD7R allows you, if you are eligible, to make a reconciliation payment by the last day of February without being subject to penalty or interest. You can only request a PD7R if you are eligible.
The PD7R cannot be used to remit current payroll remittances. You must use the PD7A for current remittances.
Eligibility to use PoF
You are eligible to use PoF if you meet all of the following 3 conditions:
- The reconciliation payment is less than 1% of the total annual remittances
- Payroll compliance is perfect which means all of the following apply:
- no late or outstanding remittances
- no assessments in the filing year
- all T4 information returns are filed on time
- One or more of the following must apply:
- you have employees who chose to be paid stock-based remuneration
- you relied on third-party information for insurance, health benefits, broker information, taxable benefits and/or automobile fleet mileage
- you have employees who live in other tax jurisdictions
If you have more than 1 payroll account (for example: 123456789RP0001 and 123456789RP0002), you may have a payroll account that is eligible and some that are not.
Example
Your business with payroll account number 12345 6789 RP 0001 received a late-remitting penalty. Your payroll account is not eligible to use PoF.
You also have another payroll account 12345 6789 RP 0002 and it has perfect payroll compliance. Your payroll account is eligible to use PoF.
What happens if you use PoF and you are not eligible
If you use PoF and you are not eligible, penalties and interest will be applied.
Learn more: When to remit (pay).
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