Tag: accounting

Claiming Automobile Expenses

By on November 10, 2007 Comment BubbleLeave a comment

One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as a van, bus, pickup truck, station wagon or other truck). Many individuals use their automobile for work or business and incur… {Read more}

CRA Voluntary Disclosure

By on November 8, 2007 Comment BubbleLeave a comment

If you owe money to any of the tax authorities because you failed to file a return for one or more years, you can make a voluntary disclosure. You will pay only the tax due plus interest. No penalties will… {Read more}

Canada Pension Plan Basics

By on November 8, 2007 Comment BubbleLeave 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}

EI Premium rates to be reduced in 2008

By on November 6, 2007 Comment BubbleLeave a comment

The Canada Employment Insurance Commission announced that employment insurance (EI) premium rates will be reduced for 2008. For employees, the rate will fall to $1.73 in 2008 (2007 – $1.80) per $100 of insurable earnings. For employers, the rate for… {Read more}

CPP Pensionable Earnings Change

By on November 6, 2007 Comment BubbleLeave a comment

The Canada Revenue Agency announced November 2, 2007 that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2008 will be $44,900 – up from $43,700 in 2007. Individual contributors who earn more than $44,900 in 2008 are… {Read more}