benefits tax – Benefits Canada.com

FSRA seeking comment on draft pension registration guidelines

Gideon Scanlon — Tue, 16 Aug 2022 15:30:41 +0000

The Financial Services Regulatory Authority of Ontario is seeking feedback on its proposed guidance on requirements for pension plans to take certain actions to avoid de-registration under the Income Tax Act. The proposed guidelines would provide an overview of the documents and information required by the FSRA and the Canadian Revenue Agency for pension plans […]

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How are employers supporting the big shift to remote work?

ANNA CAMPION — Fri, 19 Mar 2021 04:52:23 +0000

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 […]

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Working parents lose portion of take-home pay through taxes, reduced fiscal benefits: report

mschmit — Tue, 27 Aug 2019 05:40:49 +0000

Federal and provincial policy-makers should pay close attention to effective tax rates when considering changes to the tax-and-transfer system, according to a new report by the C.D. Howe Institute. Geared-to-income fiscal benefits programs provide valuable financial assistance to families with children, noted the report, but these benefits often come with high marginal effective tax and participation […]

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Budget 2019: More proposals that could affect plan sponsors

mschmit — Wed, 20 Mar 2019 10:45:41 +0000

The 2019 federal budget offered several proposals to help working Canadians, ranging from new leave provisions to tax benefit adjustments. A potential new leave provision is aimed at making it easier for workers to take time off for skills education. While the budget didn’t specify the length of the leave, it noted the government’s intention to consult with the […]

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Feds should apply logic of taxing employee discounts to public service pensions

mschmit — Mon, 16 Oct 2017 11:45:39 +0000

The idea of taxing employee discounts appears to be on hold for now, but the government may reintroduce it at a later date. If it does, the Canada Revenue Agency may want to consider the implications a little more carefully. Employee discounts are already taxable when they’re substantial in nature. If an automobile company employee gets […]

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Employers urged to prepare for Saskatchewan insurance tax

mschmit — Wed, 28 Jun 2017 12:30:18 +0000

Employers with staff in Saskatchewan will see their insurance premiums rise by six per cent this August due to a new tax introduced by the provincial government in its 2017/18 budget. The six per cent provincial sales tax will apply to all group benefits plans with life, accident and health insurance policies. “This new tax […]

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