Eligible small business corporation

Eligible small business corporation this is a Canadian-controlled private corporation, where all or substantially all of the fair market value (FMV) of its assets are used principally in an active business that is carried on primarily in Canada by the corporation or an eligible small business corporation related to it.

Changes to CPP rates and maximum in 2015

The maximum pensionable earnings under the Canada Pension Plan (CPP) will increase $1,100 to $53,600 in 2015 from $52,500 in 2014. The Canada Pension Plan (CPP) rate (4.95%) and exemption ($3,500) remains the same in 2015. The maximum employee and employer contribution to the pan for 2015 will be $2,479.95 – up from $2,425.50 in…

Changes to CPP rates and maximum in 2014

The Canada Pension Plan (CPP) rate and exemption remains the same in 2014. But the maximum pensionable earnings increase $1,400 to $52,500 in 2014 from $51,100. As a result, the employees who earn $52,500 or more will have to make $69.30 more in CPP contribution compared to 2013. Employers will also see their CPP expenses…