CPP and EI and Income Tax Deductions Are Remitted to the CRA

question 173

True/False

CPP and EI and income tax deductions are remitted to the CRA, usually on a quarterly basis.

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Definitions:

Relatively Elastic

A description of a situation where the demand for a good or service significantly changes in response to a change in price.

Excise Tax

A tax on the sale or production for sale of specific goods within a country, typically on commodities like alcohol and tobacco.

Specific Items

Goods or commodities that are distinctly identified and provided in a market or contract.

Excise Taxes

Taxes imposed on specific goods, services, or transactions, often levied on items such as gasoline, tobacco, and alcohol.