by Roberto Belingueres | Feb 18, 2021 | Articles & Publications, Covid, Taxes
As tax season begins, Canadians are faced with filing for an unprecedented year – job losses, federal financial aid, and working from home are just some of the major adjustments made over 2020. The Canada Revenue Agency (CRA) has listed all the deadlines for the...
by Roberto Belingueres | Jan 11, 2021 | Articles & Publications, Taxes
Federal Tax Bracket Rates for 2021 The following are the federal tax rates for 2021 according to the Canada Revenue Agency (CRA): 15% on the first $49,020 of taxable income, and 20.5% on the portion of taxable income over $49,020 up to $98,040 and 26% on the portion...
by Roberto Belingueres | Jan 10, 2021 | Articles & Publications, Blog, Taxes
Contributions to registered retirement savings plans (RRSPs) reduce the amount of income tax you pay, but there are limits on how much you can deposit each year. Registered retirement savings plans (RRSPs) encourage Canadians to save for the future by offering an...
by Roberto Belingueres | Jan 5, 2021 | Articles & Publications, Blog, Taxes
New Simplified Deduction Methods, New Taxable Benefit Exception, and Employer Obligations On November 30, 2020, Deputy Prime Minister and Minister of Finance Chrystia Freeland released Supporting Canadians and Fighting COVID-19: Fall Economic Statement...
by Roberto Belingueres | Jan 2, 2021 | Articles & Publications, Taxes
The Canada Revenue Agency (CRA) has made annual announcements about the nation’s retirement programs. Namely, the Canada Pension Plan (CPP) and the Registered Retirement Savings Plan (RRSP) are being updated as we enter the new year. Here are the changes you need to...
