Income Tax Act – Benefits Canada.com

Expert panel: How DB pension plan sponsors can use surplus

bwolfe — Tue, 16 May 2023 13:00:02 +0000

In 2022, the typical defined benefit pension plan achieved an investment return of roughly negative 12 per cent. However, due to dramatic increases in bond yields and a subsequent decrease in pension liabilities, many pension plans ended 2022 with the same — or better — solvency funded level that they had at the beginning of […]

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FSRA releases final pension deregistration guidance

Sadie Janes — Mon, 21 Nov 2022 20:00:53 +0000

The Financial Services Regulatory Authority of Ontario has released its final pension deregistration guidance, which identifies the documents, information and timeframes that are required under exemptions from the Pension Benefits Act to avoid a plan’s deregistration under the Income Tax Act. Maintaining ITA registration will permit the pension plan and its members to continue to […]

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Proposed tax amendments add complexity for pension administrators, says expert

Jennifer Paterson — Wed, 24 Aug 2022 13:00:27 +0000

The Department of Finance’s proposals relating to the Income Tax Act, sales tax and other legislation adds complexity where compliance is already extremely challenging for pension plan administrators, according to Greg Hurst, managing director of Greg Hurst & Associates. In the legislative proposals, published earlier this month, the government released explanatory notes in relation to […]

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FSRA seeking comment on draft pension registration guidelines

Gideon Scanlon — Tue, 16 Aug 2022 15:30:41 +0000

The Financial Services Regulatory Authority of Ontario is seeking feedback on its proposed guidance on requirements for pension plans to take certain actions to avoid de-registration under the Income Tax Act. The proposed guidelines would provide an overview of the documents and information required by the FSRA and the Canadian Revenue Agency for pension plans […]

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Share transfers to executives, employees are income not capital gains: appeal court

mdunne — Tue, 21 Dec 2021 14:00:03 +0000

A Federal Court of Appeal ruling will make it very difficult for executives and employees to treat share transfers from their companies as capital gains rather than income. The decision involved Kitchener, Ont.-based D2L Corp., whose intention was to distribute appreciated shares of the company, held in a trust, to various employees. In turn, the […]

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New stock option rules raising questions for employers, says consultant

bwolfe — Fri, 02 Jul 2021 13:00:03 +0000

Canada’s new employee stock option tax rules are raising a number of questions for employers, says David Crawford, a partner at Hugessen Consulting Inc. The new rules — part of the 2021 federal budget signed into law on June 29 — include an annual limit of $200,000 that will apply on stock option grants that […]

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