Category: Tax Alerts

RRSP Home Buyer’s Plan

The Home Buyer’s Plan (HBP) allows you to borrow funds from your RRSP to buy or build a qualifying home, under the following conditions: you or your spouse or common-law partner have not owned a home which you occupied as… {Read more}

RESP Canada Learning Bond

The Canada Learning Bond (CLB) is part of the Canadian RESP program. Actually the CLB is a grant. The big difference between this grant and the regular RESP grants is that no contribution is required. Once you qualify, you apply,… {Read more}

CRA revokes the registration as a charity

The Canada Revenue Agency (CRA) will revoke the charitable registration of Escarpment Biosphere Foundation Inc., a Toronto area charity. The notice of revocation will be published in the Canada Gazette with an effective date of February 11, 2012. On January 3,… {Read more}

2012 Rates and Maximums Chart

CPP/QPP – 2012 Year’s Maximum Pensionable Earnings $50,100.00 Year’s Basic Exemption (by pay period type): Annual $3,500.00 Monthly (12) $291.66 Semi-Monthly (24) $145.83 Bi-Weekly (26) $134.61 Weekly (52) $67.30 Maximum Contributory Earnings $46,600.00 Contribution Rate—Employee/Employer 4.95% Contribution Rate—Self-Employed 9.90% Maximum… {Read more}