Understanding the Enhanced CPP: Key Changes and Impacts in 2024
The Canada Pension Plan (CPP) is a monthly tax benefit designed to provide partial income replacement for retirees. The purpose of the CPP is to help Canadians maintain a certain standard of living after retirement. The income for the CPP comes from contributions made by employers and employees, as well as investment earnings. Both the contribution amounts and benefits of the CPP are adjusted according to the average wage and price levels in Canada.
What’s New in Taxes? Understanding 2024’s Key Tax Changes
The past year has been challenging for Canada in terms of macroeconomics, the business environment for small enterprises, and household financial arrangements. These challenges persist into 2024, and the new year continues to be filled with uncertainties. As usual, let's briefly summarize the tax changes for 2024 to help individuals and businesses make appropriate financial plans.
GST/HST Quick Method-The Ultimate Guide for Small Business Owners
The GST/HST Quick Method is a simplified tax calculation method designed for small business owners and self-employed individuals. It helps them easily calculate and remit Goods and Services Tax (GST) or Harmonized Sales Tax (HST). In this article, we will use an example to explain the HST Quick Method and assist small business owners in better understanding it.