Tax Tips

2013 Minimum Wage Changes

Several Provinces have increased or will increase their minimum wage rates in 2013. The list below details the wage rate changes taking effect in 2013.

Jurisdiction
Rate New/Current
Previous Rate
Effective Date

Alberta
$9.75
$9.40
Sept. 1, 2012

Manitoba
$10.25
$10.00
Oct. 1, 2012

New Brunswick
$10.00
$9.50
01-Apr-12

Newfoundland and Labrador
$10.00
___
01-Jul-10

Nova Scotia
$10.30
$10.15
01-Apr-13

Nova Scotia (inexperienced workers)
$9.80
$9.65
01-Apr-13

Ontario
$10.25
—
31-Mar-10

Ontario (students under 18 who work 28 hours or less/week)
$9.60
—
31-Mar-10

Ontario (serving alcohol on licensed property)
$8.90
—
31-Mar-10

Quebec
$9.90
$9.65
May 1 2012

Saskatchewan
$9.50
$9.25
Sept. […]

By |April 4th, 2013|Tax Tips|0 Comments
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2013 Tax System Indexation

On January 1, 2013, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 2.0{7b1d1f20a894a4c63204ce17147762da143d82407cb3c58d1de0cbde1ab01a62}. The Canada Child Tax Benefit and the goods and services tax credit will take effect July 1, 2013.

For 2013 the federal tax bracket thresholds are:

22{7b1d1f20a894a4c63204ce17147762da143d82407cb3c58d1de0cbde1ab01a62} for taxable income above […]

By |February 13th, 2013|Tax Tips|0 Comments
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Balancing the books isn’t always easy

Business owners understand the importance of keeping records up-to-date. Unfortunately, pa-perwork has a habit of piling up – quickly!
PADGETT BUSINESS SERVICES now offers a solution – PADGETT CONNECT
PADGETT CONNECT is an easy-to-use business software applications package that is customized for your business. You don’t need to be a com-puter whiz or an accountant to use […]

By |December 4th, 2011|Tax Tips|0 Comments
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Do you have to file a tax return?

A tax return must be filed if you have to pay income taxes. A tax return must also be filed if you have not repaid all amounts withdrawn from your RRSP unde the Home Buyers’ Plan or the
Lifelong Learning Plan.

Other situations may warrant the filing of a tax return. They are:

You want to claim a […]

By |December 4th, 2011|Tax Tips|0 Comments
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Employment Insurance Benefits for Self-Employed People

Since January 2011, self-employed Canadians will be 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 can be submitted up to 8 weeks before the expected date of birth;
Parental / adoptive […]

By |December 4th, 2011|Tax Tips|0 Comments
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Early CPP

Normally, you would start your retirement pension the month after you reach 65. However, you can begin the CPP as early as your 60th birthday or as late as your 70th.

The amount of the pen-sion is adjusted by 0.5{7b1d1f20a894a4c63204ce17147762da143d82407cb3c58d1de0cbde1ab01a62} for each month that you start to receive your pension ei-ther before or after your 65th […]

By |December 4th, 2011|Tax Tips|0 Comments
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