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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 […]

  • By: Staff
  • August 24, 2022 August 23, 2022
  • 09:00

As the coronavirus pandemic recedes, employers planning a return to the office have several legal issues to consider. Hugh Christie, a Toronto-based managing partner at Ogletree, Deakins, Nash, Smoak & Stewart, suggests employers first ensure their offices are properly set up for each department, as well as the personal situations of employees, such as workers with […]

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The Pension Investment Association of Canada is urging the federal government to allow for tax-free mergers of maturing target-date funds. In a letter to the Department of Finance Canada, the PIAC said current tax rules don’t permit tax-free mergers of a target-date fund series into a terminal fund — where a target-date fund provider will […]

  • By: Staff
  • May 4, 2022 May 4, 2022
  • 09:00
ACPM calling on feds to streamline pension overpayment recovery

The federal government is extending several coronavirus pandemic aid measures as the pandemic rages on. During the economic and fiscal update on Tuesday, the government announced it’s extending the simplified rules for deducting home office expenses and increasing the temporary flat rate from $400 to $500 annually. In 2020, the government set out a temporary flat-rate […]

  • By: Staff
  • December 15, 2021 December 15, 2021
  • 09:00

Some four decades ago, parliamentarians voted to restrict pension funds’ ability to borrow money without losing their tax-exempt status, though their reasoning has been lost to time. “These rules have been around forever, but . . . their intended purpose [remains obscure],” said Matias Milet, a partner at Osler, Hoskin and Harcourt LLP, during a […]

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The 17 pension-qualified members of parliament who stood down or were ousted during last week’s federal election will receive $1.4 million per year in payments, according to a new report by the Canadian Taxpayers Federation. The think tank, which tracks government expenditure in Canada, says that, should the MPs each live to 90 years old, […]

  • By: Staff
  • September 29, 2021 September 28, 2021
  • 15:00

For years, many employees had ad hoc, work-from-home arrangements with their employers. Then came the coronavirus pandemic, which kicked the shift to remote working into overdrive, forcing employers to spring into action to find ways to best use group benefits plans to support their employees through the change. As a result, employers came up with […]

CRA allowing employees to claim up to $400 work-from-home tax deduction

The Canada Revenue Agency is introducing a simplified process to claim up to $400 in office expenses for Canadians working from home during the coronavirus pandemic. The process will allow employees to claim these expenses as deductions on their personal income tax return for the 2020 tax year. Eligible employees can claim a deduction if […]

The federal government has published revised draft legislation for the Income Tax Act that would facilitate the conversion of existing health and welfare trusts into employee life and health trusts by 2022. The latest draft legislation follows an initial proposal in the government’s 2018 budget and draft legislative proposals released in May 2019. It noted that the […]

  • By: Staff
  • December 2, 2020 April 28, 2021
  • 08:50
Economic statement includes new rules for employee stock options

In Monday’s fall economic statement, the federal government proposed changes to employee stock option rules and offered additional support for essential workers. The statement provided an overview of the government’s approach to combating the ongoing coronavirus pandemic, while offering details on additional measures moving forward. The changes to employee stock option tax rules include an annual […]

  • By: Staff
  • December 1, 2020 April 28, 2021
  • 10:30