By Liz O'Dowd on June 4, 2012 
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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}
By Liz O'Dowd on May 24, 2012 Leave a comment
The Canada Revenue Agency (CRA) recently concluded its review and has determined that refunds or rebates will not be withheld from tax-exempt incorporated municipalities, universities, schools, hospitals (MUSH), non-profit organizations (NPOs), federal crown corporations, and Indian band councils when they… {Read more}
By Liz O'Dowd on May 24, 2012 Leave a comment
Did you know? Even if you missed the April 30 filing deadline, there are still many reasons why you should file your 2011 income tax and benefit return as soon as possible. Why is it important to file as soon… {Read more}