Contact

(Français)

Services Curriculum Vitae Links
TAX BULLETIN - ARCHIVES 2011
  • Extract from Revenue Quebec web site in connection with QPP:
    • All workers aged 18 or older must pay QPP contributions. This applies even to employees who are either of the following:
      • recipients of a QPP or CPP retirement pension
      • aged 70 or older
         
  • Extract from  Canada Revenue Agency web site in connection with CPP:
    • Starting January 1, 2012, you must deduct CPP contributions for all employees aged 60 to 65-even if the employee is receiving a CPP or Quebec Pension Plan (QPP) retirement pension and did not contribute previously.
    • You must also deduct CPP contributions for all employees who are 65 to 70 years of age unless they elect not to contribute to the CPP by giving you a signed and completed copy of Form CPT30, Election to Stop Contributing to the Canada Pension Plan, or Revocation of a Prior Election. They must also send the original to the Canada Revenue Agency (CRA).
    • Your employees cannot contribute to the CPP after the month in which they turn 70 years of age.
       
  • In connection with the definition of self-employed worker, the recent decision of TAP Consultant Inc. c. Québec concluded in favour of the taxpayer. However, it is important to recall that Carreau c. La Reine concluded in favour of the Minister (see also  RC4110 et  IN-301).
     
  • Extract from  Canada Revenue Agency web site in connection with interest rates for the fourth calendar quarter of 2011:
    • The interest rate used to calculate taxable benefits for employees and shareholders from interest-free and low-interest loans will be 1%.
       
  • Extract from a News Release by the Minister of Finance:
    (...) On March 22, 2011, the Government tabled Budget 2011 (...) in the House of Commons. However, that budget was not adopted prior to the dissolution of Parliament on March 26, 2011. “On Election Day, Canadians expressed their support for the Government’s economic record and its plan to ensure Canada remains at the forefront of economic growth and job creation,” said Minister Flaherty.

    As a result, this budget includes all of the measures that were part of the March 22nd budget. In addition, in this budget:

    • Provision has been made in 2011–12 for $2.2 billion in support of the conclusion of a satisfactory agreement between Canada and Quebec on sales tax harmonization, consistent with the Government’s commitment in this regard.

    • The Government is announcing the phase-out of quarterly allowances for political parties.
       

  • Extract from  Canada Revenue Agency web site in connection with interest rates for the third calendar quarter of 2011:
    • The interest rate used to calculate taxable benefits for employees and shareholders from interest-free and low-interest loans will be 1%.
       
  • Did you know that, even if you are a resident of Canada during at least 183 days, you could be considered resident of the United States if you meet  the Substantial Presence Test and Conditions for a Closer Connection to a Foreign Country but did not file Form 8840 on time?
     

  • Extract from  Canada Revenue Agency web site in connection with interest rates for the second calendar quarter of 2011:
    • The interest rate used to calculate taxable benefits for employees and shareholders from interest-free and low-interest loans will be 1%.
       
  • Extracts from the Budget in Brief by the Minister of Finance of Canada:
    • Providing a one-time Hiring Credit for Small Business of up to $1,000 against a small firm's increase in its 2011 Employment Insurance (EI) premiums over those paid in 2010 to encourage hiring.
       
  • Extracts from Budget at a Glance published by the Minister of Finance of Quebec:
    • The Québec Pension Plan contribution will increase by 0.15% per year over a period of six years starting January 1, 2012.
    • Persons who buy a plug-in electric or hybrid electric vehicle will receive a rebate of up to $8 000.
       
  • Combined Personal Income Tax Rate in Quebec (2010):
    Taxable Income
    $
    Average Rate  %                  Marginal Rate
    Interest & Other Income
    %
     Capital Gain
    %
    Canadian Dividends
    Eligible
    %
    Other Than Eligible
    %
    10 382 0.0 12.53 6.26 -3.58 à 0.00 1.74
    13 131 2.6 28.53 14.26 2.33 à 5.90 11.74
    38 570 19.7 32.53 16.26 8.09 à 11.66 16.74
    40 970 20.5 38.37 19.19 16.50 24.05
    77 140 28.9 42.37 21.19 22.26 29.05
    81 941 29.6 45.71 22.86 27.07 33.22
    127 021 35.3 48.22 24.11 30.68 36.35
  • Combined Corporate Income Tax Rate (December 31 Tax Year):
      2011
    %
    2010
    %
    Income eligible to SBD 19.0 19.0
    Investment income of a CCPC    
    - Net of dividend tax refund 19.9 19.9
    -  Without dividend tax refund 46.6 46.6
    Other income 28.4 29.9
  • Extracts from the web site of Department of Finance of Canada in connection with 2011 Automobile Deduction Limits and Expense Benefit Rates for Business:
    • The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes will remain at $30,000 (plus applicable federal and provincial sales taxes) for purchases after 2010.
    • The limit on the deduction of tax-exempt allowances paid by employers to employees using their personal vehicle for business purposes for 2011 will remain at 52 cents per kilometre for the first 5,000 kilometres driven and 46 cents for each additional kilometre.
       
  • On January 1, 2011, the QST rate will rise to 8.5%.
     
  • 2011 federal and provincial personal tax credits returns
     
  • Extract from  Canada Revenue Agency web site in connection with interest rates for the first calendar quarter of 2011:
    • The interest rate used to calculate taxable benefits for employees and shareholders from interest-free and low-interest loans will be 1%.