2022 was a year of almost unrelenting bad financial news for Canadians, but perhaps no group was more affected by those changes than retirees who rely on income from unindexed pensions and from returns on invested savings.
Newsletter - Page 14 of 32 - Akler Browning LLP
Latest news and regulations from the financial world.
The Employment Insurance premium rate for 2023 is set at 1.63%.
The Québec Pension Plan contribution rate for 2023 is set at 6.40% of pensionable earnings for the year.
The Canada Pension Plan contribution rate for 2023 is set at 5.95% of pensionable earnings for the year.
Dollar amounts on which individual non-refundable federal tax credits for 2023 are based, and the actual tax credit claimable, will be as follows:
The indexing factor for federal tax credits and brackets for 2023 is 6.3%. The following federal tax rates and brackets will be in effect for individuals for the 2023 tax year.
Each new tax year brings with it a listing of tax payment and filing deadlines, as well as some changes with respect to tax saving and planning strategies. Some of the more significant dates and changes for individual taxpayers for 2023 are listed below.
Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues.
Canada’s retirement income system is often referred to as a three-part system. Individuals earning income from employment or self-employment can contribute to a registered retirement savings plan (RRSP) and withdraw funds from that plan in retirement.
As the pandemic continues to wane, traditional employer-sponsored holiday social events have once again become a reality – although, as in all aspects of pandemic life, such events will likely be a hybrid of “virtual” and in-person functions.