- Starting in April 2013, CRA will stop mailing paper statement of account to you if you have paid your previous remittances electronically for the past six months or more. For more information, go to PD7A, Statement of Account for Current Source Deductions.
- Pursuant to the Federal Budget tabled on March 29, 2012 employer-paid premiums for Group Accidental Death and Dismemberment (AD&D) insurance and for Group Critical Illness (CI) insurance are to be included in an employee’s income and thus become a taxable benefit if the premium relates to coverage after 2012. The changes are to apply to employees across Canada.
- Since 2012, employers may have to deduct CPP contributions from the pensionable earnings they pay an employee who is 60 to 70 years of age, even if the employee is receiving a CPP or QPP retirement pension. See Changes to the rules for deducting Canada Pension Plan (CPP) contributions for more information.
- The 2013 Federal Budget proposes to expand and extend for another year the temporary Hiring Credit for Small Business. This temporary credit provides up to $1,000 against a small firm’s increase in its 2013 Employment Insurance (EI) premiums over those paid in 2012 to employers with total EI premiums of $15,000 or less in 2012. The Canada Revenue Agency (CRA) will continue to automatically calculate the Hiring Credit.
Related News
PSI Payroll Services Inc.
4200 South Service Rd, #200 ,
Burlington,
Ontario,
L7L 4X5
Telephone: (416) 204-4705
We help US and international companies manage Canadian payroll.
Telephone: (416) 204-4705
Toll Free: (866) 302-5926
Fax: (416) 234-9653
Payroll simplified. © 2013 PSI Payroll Services Inc.
Privacy Policy | Site map |
Website administrated by KEY27 Marketing Oakville
