NEW RRSP MAXIMUMS FOR 2009
Plan now to make your RRSP maximum contribution in 2009ó18% of earned income to a maximum of $21,000 (this is possible when earned income in 2008 was $116,667).
MEAL AND VEHICLE RATES FOR 2008
CRA has released the new rates for meal and vehicle expenses.
For meal expenses, the simplified rate is unchanged from 2007, a flat rate of $17 a meal or $51 per day, per person is allowed without receipts.
For the simplified method of claiming vehicle expenses, the number of kilometres driven during the year may be multiplied by the appropriate cents/km rate below for the province in which travel begins.
Province or territory
Cents/kilometre
Alberta
53.0
British Columbia
54.0
Manitoba
50.5
New Brunswick
52.0
Newfoundland and Labrador
55.5
Northwest Territories
64.0
Nova Scotia
52.5
Nunavut
64.0
Ontario
55.5
Prince Edward Island
52.5
Quebec
58.0
Saskatchewan
49.5
Yukon
66.0
