All items tagged with: clawback

Tax Tip: Avoid Clawback of Your EI Benefits

Posted: March 06, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , Financial Literacy, knowledge bureau, Evelyn Jacks, rrsp, tax courses, employment insurance, financial education, online education, employment benefits, EI Benefits, clawback, EI repayment, layoff, Ontario EI

Are you a high-income earner—perhaps an executive, or seasonal construction or oil rig worker—who may  suffer a loss of employment?  For the 2017 tax year, the base amount for EI repayment is $64,125.  The amount is indexed year over year and if you get caught with income over this, you’ll likely be unpleasantly surprised when you file your 2017 return .  Here’s why:

Employment Insurance Should Not Be Subject to Clawback

Posted: July 10, 2014
Posted in: Breaking News, Tax Planning , employment insurance, EI clawback

Of the 216 votes in our June 2014, 65% of KBR voters strongly voiced their opinion in our against employment insurance being subject to a clawback on the tax return.

Year End Planning with OAS Benefits

Posted: September 30, 2013
Posted in: Strategic Thinking, Think Tank, Investment & Retirement, Tax Planning , OAS clawback

In the final three months of 2013, seniors will receive an inflation-adjusted increased OAS benefit of $550.99 per month, which makes the total annual OAS benefits a total of $6,578.06. 

Reduce Clawbacks with an RRSP Contribution

Posted: August 20, 2013
Posted in: Strategic Thinking, Tax Tips, Investment & Retirement, Tax Planning , RRSPs, clawbacks

When a taxpayer's income falls into a clawback zone, a portion of a social benefit like OAS or EI must be repaid.