Are the penalties under ss. 162(7), (7.01) and (7.02) cumulative? The Directorate responded:
The penalty under subsection 162(7) cannot be combined with the penalties under subsections 162(7.01) and 162(7.02). However, it is possible to combine the penalties provided for in subsections 162 (7.01) and 162 (7.02) where a taxpayer does not complete one or more information returns within the prescribed time or in the manner (electronic format) required by the Act.
From what date will the calculation of the penalties be made if the returns are filed after an extension date granted under s. 220(3); and how will the number of information returns be computed for the purposes of subsection 162(7.01)? The Directorate responded:
[T]he penalties under subsections 162(7.01) and 162(7.02) will be calculated from the expiry of the filing deadline … where that information return is made after the extension date determined by the Minister pursuant to subsection 220(3).
…[T]he number of slips and summary(s) by type of payment must be added together to determine the applicable penalties under subsections 162(7.01) and 162(7.02). For example, a person who fails to complete 1,000 T4 Slips - Statement of Remuneration Paid and 50 T4SUM Summary of Remuneration Paid within the time prescribed … would be liable to a penalty under subsection 162(7.01) on a total of 1,050 information returns of the same type.