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Corporate

Bonuses

In certain corporate situations, bonus payables are set up. These bonuses must be paid within 179 days of the year end date of your corporation, along with the CPP and tax remittances, and must be clearly documented in the company’s minute book. To ensure the corporation receives the deduction, the source deduction must be paid to CRA. Please refer to the Bonus Payable letter provided to you by our firm.