Category: Tax
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Federal Budget 2021
The Federal government released its budget for 2021, which includes the following pension and benefit related announcements . . .
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CRA Newsletter re Additional Conditions Applicable to IPPs
The Canada Revenue Agency has published a newsletter setting out additional conditions applicable to individual pension plans (IPPs), designated plans, and similar registered pension plans (RPPs . . .
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Federal Legislative Proposal re Employee Stock Options
The federal government published Legislative Proposals to Amend the Income Tax Act, which include previously announced changes to employee stock options . . .
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CRA Announcements re Home Office Expenses & Employer Benefits
In response to COVID-19, the Canada Revenue Agency (CRA) announced changes to the process for claiming a deduction for home office expenses and the tax treatment of certain employer benefits . . .
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Federal Fall Economic Statement 2020
The federal government's Fall Economic Statement included a few announcements with potential implications for pensions, benefits and other compensation . . .
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Federal Draft Legislative Proposals re Employee Life & Health Trusts
The federal government published draft legislative proposals for Employee Life and Health Trusts (ELHT), which include revisions in response to comments on the first round of proposals . . .
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Federal Government Passes Bill C-9 re Canada Emergency Wage Subsidy
The federal government passed Bill C-9 , An Act to amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy), on November 19, 2020. Bill C-9 includes amendments to the Canada Emergency Wage Subsidy (CEWS) provisions in the Income Tax Act . . .
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CRA 2021 Retirement Savings Limits
CRA has posted the annual money purchase (MP), defined benefit (DB), registered retirement savings plan (RRSP), deferred profit sharing plan (DPSP) and the tax-free savings account (TFSA) limits, as well as the year’s maximum pensionable earnings (YMPE . . .
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Federal Bill C-9 re Canada Emergency Wage Subsidy
The federal government introduced Bill C-9 , An Act to amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy), for first reading on November 2, 2020. Bill C-9 includes amendments to the Canada Emergency Wage Subsidy (CEWS) provisions in the Income Tax Act . . .
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Federal Tax Amendments re Canada Emergency Wage Subsidy
The federal government has filed amendments to the Income Tax Regulations (ITR), which were required as a part of the extension of the Canada Emergency Wage Subsidy (CEWS . . .
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