Payments to CRA using your bank card

In addition to paying your taxes electronically by logging in to your online banking, you may be able to pay CRA by using your bank card, if you have ‘Interac Online’, ‘Visa Debit’, or ‘Mastercard Debit’ on your bank card.   If you do not have such a bank card, you can also pay CRA using…

Interest rates for the first 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 January 1, 2019 to March 31, 2019. Income tax The interest rate charged on…

Canada Revenue Agency announces maximum pensionable earnings for 2019

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2019 will be $57,400—up from $55,900 in 2018. 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 $57,400 in 2019 are not permitted…

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…