Trudeau says he revealed allegations on Nijjar death to 'put a chill' on India Last June, Sikh community leader Hardeep Singh Nijjar was shot dead outside his gurdwara in Surrey, B.C., and his supporters quickly blamed India. He, like some others in Canada’s large Sikh population, was...
The details included in the Employer's T4 form are generally the taxable income, benefits, allowances, deductions, and pension plan contributions. Here's a breakdown of some of the main boxes within a T4: Employer's Name
Understanding how different “pots of money” either count, or don’t count towards your OAS taxable income threshold can be a bit of a process. Most people who have this much annual income in retirement will simply work with an accountant to optimise their after-tax income. If you’re doi...
A multifaceted or comprehensively managed plan should 1) control costs at the source, 2) optimize the use of the prescription drug benefit, 3) support plan members and 4) educate plan members. If not controlled, drug plans can lose money due to poor patient decisions that lead to waste. Fo...
Box E Benefits at the time of death Benefit deemed to have been received at the time of death (RRSP or RRIF) Box F Refund of Undeducted RRSP contributions Refund of undeducted RRSP contributions Box G Taxable Amount revoked registration RRSP or RRIF Amount that is taxable because of the rev...
Provides the option to allocate company contributions from the savings plan to a non-taxable Health Spending Account to cover eligible medical and dental expenses above the maximum of those not included under the health and dental plans. Company-Paid Insurance ...
Is critical illness insurance taxable? No, the lump sum payment received from a critical illness insurance policy is generally tax-free in Canada. This tax-free benefit helps policyholders use the payout for necessary expen...
In order to keep your taxable income consistent throughout the lifetime of your non-registered annuity, make sure that you look at “prescribed annuities”. Non-prescribed annuities will pay you more taxable income on the front end of payments, which might lead to a higher tax bill. ...
The change will allow medium-sized CCPCs to continue to benefit from the application of the reduced 9% federal income tax rate, even if the taxable capital of the CCPC employed in Canada exceeds $15,000,000. The new measures will apply to taxation years beginning after Budget Day. ...
Separately, the 2024 federal budget announced the proposed increase to the portion of capital gains earned by a taxpayer that must be included in taxable income from one-half (50%) to two-thirds (66.67%) for capital gains realised by corporations and trusts on or after June 25, 2024. ...