The latest financial news and accounting tips from KWB.
2018 Tax Rates & Limits
Each year various tax rates, contribution limits, benefit amounts and deduction rates change. The following is a quick reference guide for 2018. Personal income tax rates and brackets: Federal Taxable income Rate $0 to $46,605 15% $46,606 to $93,208 20.5% $93,209 to $144,489 26% $144,490 to $205,842 29% Income over $205,843 33% After many years […]
EI, OAS and CPP Rulings
Employment and Social Development Canada (“ESDC”) is responsible for EI, OAS and CPP rulings, not Canada Revenue Agency. On April 1, 2013, the Social Security Tribunal (“SST”), an independent administrative tribunal operating at arm’s length from ESDC, was introduced to review appeals on EI, OAS and CPP rulings made by the ESDC. The process to […]
What is the value of deferring my OAS benefits, sometimes also called OAS pension, to a future year? There are several reasons why you might want to defer your OAS benefits, such as: 1) Based on current and future sources of income you may be able to keep thousands more. 2) You’re planning to work past 65 […]