Sep 18, 2024 | Canadian Tax Topics
The Canada Pension Plan (CPP) is a mandatory federal program that requires both employees and employers to contribute an equal percentage of the employees’ pensionable earnings to fund retirement pensions, disability, and death benefits. Contributions are based...Sep 18, 2024 | Canadian Tax Topics
NOTE: This blog uses specific CPP terminology and discusses the new structure of Canada Pension Plan contributions. For a better understanding, explanations of terms are provided throughout the blog where they first appear. Looking for an explanation for employees /...Feb 14, 2021 | Canadian Tax Topics
What is the home office expenses for employees tax deduction? The home office expenses for employees tax deduction is used to reduce income from employment and is for employees who, as a condition of employment, are required to maintain a home office. The deduction...Jan 24, 2021 | Canadian Tax Topics
What is the Canada Pension Plan? The Canada Pension Plan (CPP) is a mandatory pension plan to help Canadian workers (every person over 18 years of age, who works in Canada and earns over $3,500 per year), in their retirement. Employees, employers and the self-employed...Jan 24, 2021 | Canadian Tax Topics
What is the BC Employer Health Tax? The BC Employer Health Tax is an annual payroll tax that came into effect on January 1, 2019. It is tax that is separate from Medical Services Plan (MSP) premiums and current payroll source deductions. The BC EHT calculation is...