Yann Brisebois, CGA Professional Corporation

Tax Alerts

Tax Briefing(s)

ON – 2012 Corporate Tax Rates
As of January 1, 2012, Ontario levies a general corporate tax rate of 11.5%, with that rate currently scheduled to be reduced to 11% effective July 1, 2012.The small business threshold is $500,000, an...

ON – 2012 Individual Tax Rates and Brackets
Effective January 1, 2012, the provincial tax rates and income thresholds for Ontario are as follows:5.05% on the ...

ON – Interest Rates—2012
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar q...

ON – Personal Tax Credit Amounts for 2012
For 2012, the province will provide the following non-refundable personal tax credit amounts:Basic personal amount ………………………&he...

ON – Province introduces new tax credit for seniors’ home renovation expenses
In its 2011 fall Economic and Fiscal Update, the province of Ontario announced that a new tax credit would be provided to the province’s seniors beginning Octo...

ON – Province launches tuition reduction program for post-secondary students
Effective January 1, 2012, the province of Ontario will be providing most post-secondary students in the province with a 30% reduction in tuition costs. The tuition reduction will be available to f...

ON – Schedule issued for benefits payments in 2012 and 2013
The Ontario government has issued a calendar listing the dates on which provincial benefits and credits will be paid during 2012 and 2013....

ON – SR&ED seminar schedule for 2011/12
The Ontario Ministry of Revenue, in conjunction with the Canada Revenue Agency (the CRA), sponsors free seminars which provide information on scientific research and...

ON – Tax credits and benefits Web site expanded
The Ontario Ministry of Finance has posted on its Web site a summary of the individual tax credits and benefits currently provided by the province, together with information on the individual and f...

2011 individual income tax package available online
The individual income tax package for the filing of personal tax returns for the 2011 taxation year is now available on the Canada Revenue Agency Web site....

2011 T2 corporation income tax guide issued by the CRA
The Canada Revenue Agency (CRA) has issued the income tax guide to be used by Canadian corporations in completing their corporate income tax return for the 2011 tax year.The guide is current...

Bank of Canada leaves benchmark rate unchanged
In its January 17 announcement, the Bank of Canada indicated that no changes would be made to its benchmark interest rate, meaning that the bank rate will remain at 1.25%.In announcing its d...

Bank of Canada maintains bank rate at current level
In its December 6 announcement, the Bank of Canada chose to leave the bank rate at its current level of 1.25%. In the related press release, which is available on th...

Eco-ENERGY retrofit program ends early
The Minister of Natural Resources has announced that, as of January 28, 2012, his department has stopped accepting new registrations for the federal EcoENERGY retrofit program. The program was orig...

Federal government launches Web site for tradespeople
The federal government, together with the governments of British Columbia, New Brunswick, and Ontario, has launched a Web site dedicated to providing information for...

Federal government releases draft proposals on pooled registered pension plans
The federal government has released draft legislation with respect to the implementation of pooled registered pension plans (PRPPs), together with a backgrounder sum...

Federal tax brackets and credit amounts announced for 2012
The Canada Revenue Agency (CRA) has issued a fact sheet outlining the individual tax brackets and non-refundable credit amounts which will be in effect for the 2012 ...

Household debt to income ratio increases again
The latest Statistics Canada report on household spending and saving indicates that the average debt-to-income ratio of Canadian households has reached another new h...

Inflation rate stands at 2.3% for December 2011
The most recent issue of Statistics Canada’s Consumer Price Index indicates that, overall, prices rose by 2.3% on a year-over-year basis during the month of December.The December incre...

Inflation rate stands at 2.9% for November
The most recent issue of Statistics Canada’s Consumer Price Survey indicates that the overall inflation rate stood at 2.9%. The major contributors to inflation...

New CPP election form now available on CRA Web site
Beginning in 2012, changes to the Canada Pension Plan will be made which will affect Canadians who are between the ages of 65 and 70 and, although currently receivin...

Obtaining tax information slips online
Recipients of certain types of government benefits, including Old Age Security, Canada Pension Plan, and Employment Insurance can obtain the tax information slips (T4A (OAS), T4A(P), T4E) needed to...

Online filing service for business information slips enhanced
As of January 2012, businesses are able to file up to 50 information slips through a single submission on the Canada Revenue Agency’s (CRA’s) Web Forms application.The types of i...

Prescribed interest rates for 2012
The Canada Revenue Agency (CRA) has announced the interest rates that will apply to amounts owed to and by the federal government for the first quarter of 2012, as w...

Unemployment rate up slightly for December 2011
The latest release of Statistics Canada’s Labor Force Survey indicates that while employment rose slightly during the month of December, the unemployment rate edged up to 7.5% as more people ...

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