Canada News Centre

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2022 Employment Insurance (EI) Rates

2022 EI rates are frozen at 1.58%/2.212% for employees/employers, but the Maximum Insurable Earnings (MIE) has increased by 7.1% to $60,300. Employee/employer maximums increase by 7.1% to $952.74 and $1,333.84. Quebec maximums increase by 8.9% to $723.60 and $1,013.04. Click below to read…

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Lifetime Capital Gains Exemption (LCGE)

The LCGE is increased for indexation to $848,252 for 2018, from $835,716 for 2017, for qualified small business corporation (SBC) shares. LCGE of $1 million is available for qualified fishing or farming property. Click below to read more: Lifetime Capital Gains Exemption (LCGE) …

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Life in the Tax Lane April 2018

This month’s 10 minute video discusses a malicious prosecution by CRA; Passive income provisions of the 2018 budget, related to the small business deduction; Tax on split income; and US transition tax and Canadian Corporations. Click below to read more: Life in the…

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2019 Personal Tax Rate Tables

We’ve published our 2018/2019 tax rate tables, which show the combined federal and provincial/territorial tax rates for capital gains, both types of Canadian dividends and other income. There is a possibility things could change on November 21st with the federal fall economic update, and again…

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BC 2019 Budget – February 19, 2019

There were no personal or corporate income tax rate changes in the budget. Student loan interest is eliminated. The BC Early Childhood Tax Benefit will be replaced by a more generous BC Child Opportunity Benefit on October 1, 2020. The Climate Action Tax Credit will…