By Liz O'Dowd on June 26, 2012 
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The CRA guide T4060 outlines individual taxpayers’ rights and obligations when they have personal taxes owing to the Government of Canada including: 1.) If balances are not paid within 30 days of the date of when a notice of assessment… {Read more}
By Liz O'Dowd on June 7, 2012 Leave a comment
The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program. It ensures a measure of protection to a contributor and his or her family caused by the loss of income due to retirement, disability and death. There are… {Read more}
By Liz O'Dowd on June 4, 2012 Leave a comment
Padgett Business Services is proud to announce that Emilie Jerome has joined us as a summer student. Emilie just completed her first year at McGill University in Montreal. She is entering her second year this fall and is working towards… {Read more}
By Liz O'Dowd on June 4, 2012 Leave a comment
Some provinces allow the “unlocking” of all or a portion of a LIRA, LIF or LRIF under certain circumstances. Some of the circumstances include: small balances in the account, under a specified threshold amount becoming non-resident of Canada shortened life… {Read more}
By Liz O'Dowd on June 4, 2012 Leave a comment
The Harper Government today announced that increased personal exemption limits for Canadian consumers are now in effect. The new limits, announced in Economic Action Plan 2012, will benefit Canadians by streamlining the processing of Canadian consumers returning to Canada. The… {Read more}
By Liz O'Dowd on June 4, 2012 Leave a comment
An RRSP is primarily intended for retirement savings. Tax assistance provided by a TFSA complements that provided through RRSPs. RRSP contributions are tax-deductible while RRSP withdrawals are added to income and taxed at regular rates. TFSA contributions are not tax-deductible… {Read more}
By Liz O'Dowd on May 30, 2012 Leave a comment
The Last penny was produced at the Royal Canadian Mint’s high-speed manufacturing facility in Winnipeg on May 4th 2012 . “For over a hundred years, the penny played an important role in Canada’s coinage system,” said Minister Flaherty. “Although the… {Read more}
By Liz O'Dowd on May 30, 2012 Leave a comment
“Canada’s economic fundamentals are strong and our international commitments are on track in terms of reducing our deficits and returning to fiscal balance in the medium term,” said Minister Menzies. “Internationally, Canada has been a central player in promoting strong,… {Read more}
By Liz O'Dowd on May 30, 2012 Leave a comment
Since 2011, self-employed Canadians have been able to voluntarily access Employment Insurance (EI) special benefits. There are four types of EI special benefits: Maternity benefits (15 weeks maximum) available to birth mothers. It covers the periods surrounding birth. A claim… {Read more}
By Liz O'Dowd on May 24, 2012 Leave a comment
Being informed is your best protection against fraud. Always remember to protect your personal information and that if it sounds too good to be true, it probably is. Some things to remember… If you’re not sure about the authenticity of… {Read more}