Author: Liz O'Dowd

Estate Plans and RRSP’s

Estate Plans Estate planners often suggest that the RRSP/RRIF holder designate a beneficiary of the plan. There are many advantages of estate plans: Probate fees can be avoided because the funds transfer direct to the beneficiary. The funds are not… {Read more}

Company Events & Door Prizes

In a Technical Interpretation, CRA was questioned about door prizes received by all attendees at a company social function. Door Prizes at Company Functions CRA commented that their tax-free $500 gifts and awards policy would apply to all attendees including… {Read more}

2016 Maximum pensionable earnings

Canada Revenue Agency announces Maximum pensionable earnings for 2016 The Canada Revenue Agency announced today that the Maximum pensionable earnings under the Canada Pension Plan (CPP) for 2016 will be $54,900—up from $53,600 in 2015. The new ceiling was calculated… {Read more}

Free Tax Preparation Clinics

Tax preparation clinics benefit your community: Learn how you can participate Every year, the Canada Revenue Agency (CRA) supports community organizations across the country as they run free tax preparation clinics. It happens in communities just like yours, through a… {Read more}

Minimum Wage Rates in Ontario

 Minimum Wage Rates Minimum wage is the lowest wage rate an employer can pay an employee. Most employees are eligible for minimum wage, whether they are full-time, part-time, casual employees, or are paid an hourly rate, commission, piece rate, flat… {Read more}