Canada News Centre

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CPP Pensionable Earnings for 2021

The maximum pensionable earnings for 2021 will be $61,600, up 4.94% from 2020. The contribution rate increases to 5.45%, with max per employee $3,166.45, up 9.26% from 2020. Click below to read more: CPP Pensionable Earnings for 2021 Source: Tax Tips

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TFSA vs RRSP Calculator

This calculator, which now includes 2018 tax rates and TFSA/RRSP limits, may be able to help you decide which type of account is better for you. Click below to read more: TFSA vs RRSP Calculator Source: Tax Tips

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Manitoba 2018 Budget – March 12, 2018

The Basic Personal Amount is increased for 2019/2020, and the Small Business Deduction (SBD) limit is increased effective January 1, 2019. A carbon tax will be in effect starting Sep 1, 2018. Tobacco tax increases effective midnight March 12th, 2018. A child care centre development…

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2019 Employment Insurance (EI) Rates

The 2019 employee EI rate is reduced to 1.62% from the 2018 rate of 1.66%. The employer rate is 2.268%, down from 2.324%. The maximum insurable earnings (MIE) is increased to $53,100 from the 2018 rate of $51,700. The resulting maximum annual contribution per employee…

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2019 BC Pharmacare Coverage Changes

Changes effective January 1 eliminate family deductibles for family net income of $30,000 or less, reduce deductibles for net income of $41,667 or less, and eliminate or reduce family maximums for net income of $45,000 or less. Note that you MUST REGISTER for Pharmacare benefits….