Category Archives: Taxation

Information about Employee Group Benefits and Group Retirement Taxation.

Prime Minister Justin Trudeau said Wednesday that he will not enact a tax on health and dental benefits.

We lobbied to our MPs on behalf of our clients on this.  This is great news. Prime Minister Justin Trudeau said Wednesday that he will not enact a tax on health and dental benefits, after days of refusing to rule … Continue reading

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Federal CPP and EI maximums for 2017

2015  2016 2017 Employment Insurance Maximum weekly benefit 523.36 537.56 542.59 Maximum annual employee contribution 930.60 955.04 836.19 Maximum annual employer contribution 1,302.84 1,337.06 1,169.64 Maximum insurable earnings 49,500.00 50,800.00 51,300.00 Canada Pension Plan Maximum employee contribution to plan 2,479.95 … Continue reading

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Federal CPP and EI maximums effective January 1, 2016

2014 2015 2016 Employment Insurance Maximum weekly benefit 514.00 523.56 537.30 Maximum annual employee contribution 913.68 930.60 955.04 Maximum insurable earnings 48,600.00 49,500.00 50,800.00 Canada Pension Plan Maximum employee contribution to plan 2,425.50 2,479.95 2,544.30 Registered Retirement Savings Plan* 24,270.00 … Continue reading

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New CRA Annual Maximums for 2015

Effective January 1, 2015, the Canada Revenue Agency changed the maximums as follows: 2013 2014 2015 Employment Insurance   Maximum weekly benefit 501.00 514.00 523.36 Maximum annual employee contribution 891.12 913.68 930.60 Maximum annual employer contribution 1,247.57 1,279.15 1,340.06 Maximum … Continue reading

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New CRA Annual Maximums for 2014

Effective January 1, 2014, the Canada Revenue Agency changed the maximums as follows: 2012  2013  2014  Employment Insurance   Maximum weekly benefit          485.00          501.00          514.00 Maximum annual employee contribution          839.97          891.12          913.68 Maximum annual … Continue reading

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BC and PEI Benefits Tax Changes April 1, 2013

On April 1, 2013, British Columbia (BC) and Prince Edward Island (PEI) are implementing changes to the GST/HST. British Columbia Tax Changes Elimination of current HST (12%). Return to PST (7%) and GST (5%).   Contracts that are currently charged … Continue reading

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New CRA Annual Maximums for 2013

Effective January 1, 2013, the Canada Revenue Agency changed the maximums as follows: 2011  2012  2013  Employment Insurance   Maximum weekly benefit          468.00          485.00          501.00 Maximum annual employee contribution          786.76          839.97          891.12 Maximum annual … Continue reading

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TFSA contribution limit increases for 2013

Starting in 2013, the TFSA annual contribution limit increases from $5,000 to $5,500. The $5,000 annual contribution limit is indexed to inflation using the Consumer Price Index (CPI) data as reported by Statistics Canada, rounded to the nearest $500. This … Continue reading

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AD&D and Critical Illness Become Taxable Benefits Effective 2013

On March 29, 2012 the Federal Government announced that employer-paid premiums for Accidental Death & Dismemberment (AD&D) and Critical Illness (CI) will become taxable benefits. Currently, the premiums paid by employers for AD&D and CI are non-taxable benefits to the … Continue reading

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