Category: Tax Alerts

CRA Voluntary Disclosure

If you owe money to any of the tax authorities because you failed to file a return for one or more years, you can make a voluntary disclosure. You will pay only the tax due plus interest. No penalties will… {Read more}

EI Premium rates to be reduced in 2008

The Canada Employment Insurance Commission announced that employment insurance (EI) premium rates will be reduced for 2008. For employees, the rate will fall to $1.73 in 2008 (2007 – $1.80) per $100 of insurable earnings. For employers, the rate for… {Read more}

CPP Pensionable Earnings Change

The Canada Revenue Agency announced November 2, 2007 that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2008 will be $44,900 – up from $43,700 in 2007. Individual contributors who earn more than $44,900 in 2008 are… {Read more}