Shaelene’s Tax Tip of the Week – August 18th

Books In Line

Have you given an employee a gift recently?

It isn’t always a taxable benefit. Non-cash gifts for a special occasion have an upper limit of $500, and non-cash gifts for a work anniversary have an upper limit of $500 every five years. Anything in excess, however, is a taxable benefit.

Have questions? Give us a call at 905-571-2665 (BOOK)!

We’ve got you covered!

Shaelene’s Tax Tip of the Week – August 11th

Books In Line

Did you know?

In 2021, CPP contributions increased to 5.45% from 5.25% for employers and employees, and self-employed individuals increased from 10.5% to 10.9%. The goal is to have one-third of your average salary available upon retirement each year, whereas before it was one quarter.Have questions? Give us a call at 905-571-2665 (BOOK)!

We’ve got you covered!