There is no “official” inflation but CPP rates are on the rise in 2012.
Thursday, November 17th, 2011
The Canada Revenue Agency (CRA) recently announced that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2012 will be $50,100 — up from $48,300 in 2011 (up 4%). The basic exemption amount for 2012 remains $3,500 (this is a perfect example of bracket creep). The employee and employer contribution rates for 2012 [...]
Private company shares in your RRSP
Wednesday, July 27th, 2011
Under limited circumstances it is possible to hold private company shares in your RRSP (or TFSA). The recent Federal budget has made it more difficult to qualify for this opportunity. The really bad news, is that if you previously qualified, and your RRSP holds private company shares, that investment may now be off-side, and subject [...]
Top 5 Things to do with your tax refund!
Saturday, April 16th, 2011
Our professional tax team is asked often what to do with a personal tax refund. Here is our list of recommendations: 5. Take advantage of your mortgage prepayment options. Many mortgage permit a 10% or 15% prepayment opportunity, once per year. 4. Set aside $5,000 for your Tax Free Savings Account (TFSA). If you haven’t [...]
