January 14, 2020
The indexing factor for federal tax credits and brackets for 2019 is 1.9%. The following federal tax rates and brackets will be in effect for individuals […]
January 14, 2020
Dollar amounts on which individual non-refundable federal tax credits for 2020 are based, and the actual tax credit claimable, will be as follows: Credit amount Tax […]
January 14, 2020
The Canada Pension Plan contribution rate for 2020 is increased to 5.25% of pensionable earnings for the year. The maximum pensionable earnings for the year will […]
January 14, 2020
The Quebec Pension Plan contribution rate for employees and employers for 2020 is 5.7%, and maximum pensionable earnings are $58,700. The basic exemption is $3,500. The […]
January 14, 2020
The Employment Insurance premium rate for 2020 is decreased to 1.58%. Yearly maximum insurable earnings are set at $54,200, making the maximum employee premium $856.36. As […]
December 14, 2019
During the month of December, it is customary for employers to provide something “extra” for their employees, by way of a holiday gift, a year-end bonus […]
December 14, 2019
For most Canadians, registered retirement savings plans (RRSPs) don’t become top of mind until near the end of February, as the annual contribution deadline (which, for […]
December 14, 2019
While Canadians benefit from a publicly funded health care system, there are nonetheless a large, and increasing, number of medical expenses which are not covered by […]
December 14, 2019
Between now and the end of February 2020, Canadians will receive a variety of receipts for expenditures made during the 2019 taxation year. Some of those […]