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Canada Revenue Agency announces maximum pensionable earnings for 2012

|| November 1, 2011

On November 1, 2011, the Canada Revenue Agency announced the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2012. The rate remains unchanged at 4.95% for employee and employer, and 9.9% for self-employed. Contributors who earn more than $50,100 in 2012 are notrequired or permitted to make additional contributions to the CPP.

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GST/HST Credit Payment

|| October 20, 2011

The GST/HST payments are scheduled to be issued beginning on October 5, 2011. If you are a GST/HST recipient and do not receive your payment by October 20, 2011, you may want to contact CRA at 1-800-959-1953

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Working Income Benefit

|| October 20, 2011

The Working Income Tax Benefit advance payments are scheduled to be issued beginning on October 5 2011. If you are a Working Income Tax Benefit recipient and do not receive your advance payment by October 20 2011, you may want to contact CRA at 1-800-959-8281.

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PM announces agreement on sales tax harmonization

|| October 20, 2011

On September 30, 2011, Prime Minister Stephen Harper and Jean Charest, Premier of Quebec, announced the conclusion of a Memorandum of Agreement (MOA) regarding the harmonization of the Quebec Sales Tax (QST) with the federal Goods and Services Tax/Harmonized Sales Tax (GST/HST).

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Mistakenly over-contributed to TFSA

|| November 12, 2010

If you have mistakenly over-contributed to your Tax Free Saving Accounts (TFSA) in 2010 due to misunderstanding of the TFSA contribution rules then CRA may be able to waive taxes on over-contributions for 2010. Every TFSA holder who receives a letter indicating that they may have over-contributed need to call CRA at 1-800-959-8281 to review

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