(647) 692-7225 Toll free: 1.888.926.7249 mail@amsai.ca

Blog

Office Closure – February 17, 2020 (Monday)

|| February 14, 2020

We will be closed on Monday, February 17, 2020 for Family Day.  We will resume on Tuesday,February 18, 2020 at 9:30 am. To book an appointment, please call us at 647-692-7225. Have a safe and wonderful long weekend!

Read more

Tax Rate on RRSP Withdrawal

|| January 7, 2020

In the case of withdrawing money from Registered Retirement Savings Plan (RRSP) before retirement a withholding tax is charged at source by the financial institution. Following are the withholding tax rates for the resident of Canada; Withdrawal Amount Withholding Federal Tax Up to $5,000 10% (For Quebec – 5%)

Read more

RRSP contributions deadline for 2019 tax year

|| January 6, 2020

The 2019 contribution deadline for Registered Retirement Savings Plans (RRSP) is March 2, 2020 (Monday). As per the Income Tax Act, the deadline is on or before the 60 days after the end of the calendar year. Generally, that day is March 1st. However, in a leap year, it

Read more

WE WON THE 2019 MILTON CHAMPION READERS’ CHOICE AWARD!!

|| December 18, 2019

We are proud and honored to receive the DIAMOND and PLATINUM award for the 2019 Milton Champion Readers’ Choice Awards. We would like to THANK YOU for your on-going support. Since 2016, you have supported us to become an award winning accounting and tax firm. We are very fortunate to

Read more

2020 CANADA PENSION PLAN (CPP) MAXIMUM PENSIONABLE EARNINGS

|| December 5, 2019

For 2020, the maximum pensionable earnings under the Canada Pension Plan (CPP), for employee and employer, has increased to 5.25% (2019: 5.10%) and 10.50% (2019: 10.20%) for self-employed. Contributors who earn more than $58,700 in 2020 (2019: $57,400) are not required or permitted to make additional contributions to the CPP.   The increase in rate will have a maximum impact (per person) of $149.10 (2019: $155.10) for

Read more