Interest rates for the fourth calendar quarter The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from October 1, 2018 to December 31, 2018. Income…

Interest rates for the fourth calendar quarter

Interest rates for the fourth calendar quarter The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from October 1, 2017, to December 31, 2017. There…

Canada Revenue Agency announces maximum pensionable earnings for 2018

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2018 will be $55,900—up from $55,300 in 2017. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada. Contributors who earn more than $55,900 in 2018 are not required or permitted…

2017 Federal Budget Special Report

Breaking News Federal Budget Special Report Brought to you by Knowledge Bureau. Opinion Poll Do you support the cancellation of education and textbook credits in 2017, leaving only tuition fee credits for students and supporting individuals? Knowledge Bureau Reporters: Evelyn Jacks, President, MFA™, DFA – Tax Services Specialist™ Walter Harder, DFA – Tax Services Specialist™…

Budget 2017 is set for March 22

March 7, 2017 – Ottawa, Ontario – Department of Finance Canada The Government of Canada continues its plan to help middle class families and grow the economy by making smart investments in the things that matter most: good, well-paying jobs, healthy living, strong communities and better opportunities for our kids and grandkids. Finance Minister Bill…

Government Announces the 2017 Automobile Deduction Limits and Expense Benefit Rates for Business

December 30, 2016 – Ottawa, Ontario – Department of Finance Canada Finance Minister Bill Morneau today announced the income tax deduction limits and expense benefit rates that will apply in 2017 when using an automobile for business purposes. Although most of the limits and rates that applied in 2016 will continue to apply in 2017,…

Canada Revenue Agency announces maximum pensionable earnings for 2017

November 1, 2016                           Ottawa, Ontario                                     Canada Revenue Agency The Canada Revenue Agency announced today that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2017 will be $55,300, up from $54,900 in 2016. The new ceiling was calculated using a CPP legislated formula that takes into account the growth in average weekly…

Minimum wage increase takes effect on Saturday, October 1, 2016

This increase will mark the second in a series of progressive steps that will give Alberta a $15 per hour minimum wage by 2018. On October 1, 2016, the following Alberta minimum wage rates will take effect: The general minimum wage will be $12.20 per hour. The separate liquor server rate will be eliminated. The…

EI contribution rate to decrease to 1.63% for 2017 from 1.88%

Statement on Employment Insurance Rate Change for 2017 by the Minister of Finance and the Minister of Families, Children and Social Development “The Government of Canada is committed to ensuring that middle class Canadians and those working hard to join the middle class receive the support they need as they work hard to build a…

Government Announces the 2016 Automobile Deduction Limits and Expense Benefit Rates for Business

December 24, 2015 – Ottawa, Ontario – Department of Finance Finance Minister Bill Morneau today announced the income tax deduction limits and expense benefit rates that will apply in 2016 when using an automobile for business purposes. Although most of the limits and rates that applied in 2015 will continue to apply in 2016, there…