Ottawa, Ontario, March 14, 2012… The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations. These rates… {Read more}
Category: News
Registered Educational Savings Plan (RESP)
A RESP is a savings plan for post-secondary education which allows funds to accumulate on a tax-deferred basis up to certain limits. There is no annual limit for contributions. For each beneficiary the lifetime limit on contributions is $50,000. Although… {Read more}
Ontario Takes Action to Eliminate Deficit
The Ontario government is moving forward with a responsible plan to eliminate the deficit so that more jobs are created and the economy continues to grow. Since the introduction of the 2011 Budget, growth in the global economy has slowed…. {Read more}
2012 Tax System Indexation
On January 1, 2012, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 2.8%. The Canada Child Tax Benefit and the goods and services tax credit will take… {Read more}
Deficit Elimination Critical For Job Creation And Economic Growth
The McGuinty government remains focused on jobs and the economy. Despite uncertainty around the world, Ontario’s real Gross Domestic Product (GDP) rose 0.7 per cent (2.7 per cent annualized) in the third quarter (July to September 2011). Provincial GDP has… {Read more}
Annual Tax Expenditures & Evaluations Report
This report provides estimates and projections of the revenue impacts of federal tax measures designed to support the economic and social priorities of the Government of Canada. The publication reflects tax relief measures from the Next Phase of Canada’s Economic… {Read more}
We’re Moving
Padgett Ottawa is relocating
Padgett Nominated for Professional Services Business of the Year
Padgett Business Services® was recently nominated for
Form T2200 – Declaration of Conditions of Employment
Canada Revenue Agency (CRA) expects employers
Remitting GST/HST on Taxable Benefits
Did you know that GST/HST must be remitted on a