Pre-Budget Consultations Now Underway!
Pre-budget consultations are now underway for this fall’s Federal Budget and Canadians are invited to share their views with Finance Minister Francois-Philippe Champagne through an online survey. Over the next several weeks, the Finance Minister and his team will meet with various stakeholder groups and review public submissions before finalizing the budget.Canada Pension Plan – Sooner or Later?
Gone are the days when you had to quit work to start receiving your Canada Pension Plan retirement pension. These days you can start receiving you CPP retirement pension at any age from 60 to 70. There is a catch however.
EI Rate Freeze Not a Premium Freeze
On September 9, the Honourable Jim Flaherty, Minister of Finance, announced that the Employment Insurance (EI) premium rate for employees will be frozen at the 2013 level of $1.88 per $100 of insurable earnings for the years 2014-2016.
Canada’s Financial Institutions Remain the World’s Best
On September 6, the Honourable Jim Flaherty, Minister of Finance, announced that the World Economic Forum’s Global Competitiveness Report for 2013-2014 ranked Canada’s financial system as the strongest in the world for the sixth consecutive year.
Reportable Transactions: Due Diligence Defence Possible Under Section 237.3
The CRA has new teeth: new Section 237.3, Reportable Transactions, may in fact, give the Canada Revenue Agency (“CRA”) a real advantage if transactions that seek to avoid taxation fall foul of pre-disclosure rules.
New Online Notice of Assessment Service for Small Businesses
CRA continues to help Canadians use more electronic services.
September 15 Instalment – It’s About What You Keep
Filing a tax return is about what you keep. So is the pre-payment of income taxes throughout the year. This month that’s an important concept as the September 15 quarterly tax instalment payment is due on Monday, September 16.
