by Chris Hammond | Apr 21, 2016 | News
These changes affect you if you are: An employee who contributes to the Canada Pension Plan (CPP), whether you are just starting your career or you are planning to retire soon; A self-employed person who contributes to the CPP; Between the ages of 60 and 70 and you...
by Chris Hammond | Mar 18, 2016 | News
Several Provinces have increased or will increase their minimum wage rates in 2016. This list details the wage rate changes taking effect in 2016. Jurisdiction Rate New/ Current Previous Rate Effective Date Alberta $11.20 $10.20 September 1, 2015 B.C. $10.45 $10.25...
by Chris Hammond | Feb 22, 2016 | News
Employer-Paid Disability Premiums If you think that paying for your employee’s disability premiums is always a good thing, think again. If you provide your employees disability as a nontaxable fringe benefit, payments they receive upon their disability will be, in...
by Chris Hammond | Feb 22, 2016 | News
A RESP is a savings plan for post-secondary education which allows funds to accumulate on a tax-deferred basis up to certain limits. There is no annual limit for contributions. For each beneficiary the lifetime limit on contributions is $50,000. Although there is no...
by Chris Hammond | Jan 27, 2016 | News
Tax System Indexation On January 1, 2016, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 1.3%. The Canada Child Tax Benefit and the goods and services tax credit will...
by Chris Hammond | Dec 29, 2015 | News
When Do You Have to Remit GST/HST on the Benefits and Allowances? Did you know that GST/HST must be remitted on a taxable benefit unless the benefit is tax exempt or zero-rated, for example the benefit on low-interest loans? An example of a tax benefit that is not...
