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Top Ways to Save Money As a New Parent + MORE Jun 15th
This Father’s Day, celebrate being a new parent with these tips on how to save on baby essentials.
As a new parent, it’s very easy to go overboard on spending. After all, who wouldn’t want to shower an adorable new human with an influx of cute items? The truth is, you can spend as much or as .... More »
Sears pension ‘slap’ shows need to diversify savings + MORE Sep 21st
Employer-sponsored pension plans force people to save for retirement. But what happens when a company isn't healthy enough to fund them?.... More »
How segregated funds can help protect your nest egg in a volatile market + MORE Sep 20th
For older Canadians afraid of having their savings wiped out in a market downturn, segregated funds could be an effective option, writes Gordon Pape..... More »
Tax implications of building a laneway suite + MORE Mar 6th
Q. I read your “capital gains on subdivided land” article—very nice piece. I have a follow up topic for you. I’m not sure if you are familiar, but recent changes to zoning laws have enabled thousands of Toronto property owners to build a laneway house on the back portion of their property, p.... More »
Amar earned $117,799 last year. But he is a freelance photographer with an unpredictable income. How can he sock away more savings? + MORE Oct 17th
Amar is 31 years old and lives in an affordable shared apartment. How can he increase his savings when his monthly income is never the same?.... More »
Here’s how the Canada Pension Plan is set to change
– moneysense.ca
Here are the forthcoming changes to the Canada Pension Plan agreed to Monday by the federal government and most of the provinces and territories:
— Increasing the income replacement rate to one-third from one-quarter, meaning the maximum CPP benefit will be about $17,478 instead of about $13,000.
How CPP changes could affect employees »
— Increasing premiums on employers and employees by one per cent, meaning an extra $408 a year coming off paycheques.
— Increased premiums will be phased in over seven years, starting in 2019.
— Increasing by 14 per cent to $82,700 the maximum amount of income subject to CPP.
Making sense of the CPP expansion »
— Expanding the refundable tax credit known as the federal working income tax benefit, to help low-income Canadians offset the increase in premiums.
— New portion of employee contributions to CPP will be tax deductible (not a tax credit).
The post Here’s how the Canada Pension Plan is set to change appeared first on MoneySense.
— Increasing the income replacement rate to one-third from one-quarter, meaning the maximum CPP benefit will be about $17,478 instead of about $13,000.
How CPP changes could affect employees »
— Increasing premiums on employers and employees by one per cent, meaning an extra $408 a year coming off paycheques.
— Increased premiums will be phased in over seven years, starting in 2019.
— Increasing by 14 per cent to $82,700 the maximum amount of income subject to CPP.
Making sense of the CPP expansion »
— Expanding the refundable tax credit known as the federal working income tax benefit, to help low-income Canadians offset the increase in premiums.
— New portion of employee contributions to CPP will be tax deductible (not a tax credit).
The post Here’s how the Canada Pension Plan is set to change appeared first on MoneySense.
CBC.caFeds try to quell retirement fears, but winter is coming: Neil MacdonaldCBC.caThe people who craft messages for government say it's wrong to call the Canada Pension Plan expansion a tax. "This is an investment," one official told me, after requesting the discussion be on background only. "It's about our kids." Why he insisted …Bill Morneau's clever Canada Pension Plan deal: WalkomToronto StarThe Canadian PressCTV NewsFix your savings habits, not the CPPThe Globe and Mail (subscription)Macleans.ca -TheChronicleHerald.ca -Calgary Herald -Ottawa Citizenall 149 news articles »