GOVERNMENT OF CANADA
GOVERNMENT OF QUEBEC
- Extracts from the
web site of Department
of Finance of Canada in connection with
2015 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 2014.
- The limit on the
deduction of tax-exempt allowances paid by
employers to employees that use their personal
vehicle for business purposes for 2015 will be
increased by 1 cent to 55 cents per kilometre
for the first 5,000 kilometres driven and to 49
cents for each additional kilometre.
- Extract from Revenue Quebec's
site about the
Limits and Rates Related to the QPP for 2015:
- The maximum pensionable earnings have been
increased from $52,500 to $53,600.
- The basic exemption is $3,500.
- The maximum contributory earnings have been
increased from $49,000 to $50,100.
- The contribution rate has been increased from
5.175% to 5.25% for both employers and employees.
- The maximum employee contribution has been
increased from $2,535.75 to $2,630.25.
- The maximum employer contribution has been
increased from $2,535.75 per employee to $2,630.25
- The contribution rate for self-employed persons
has been increased from 10.35% to 10.50%.
- The maximum contribution for a self-employed
person has been increased from $5,071.50 to
- Extract from Canada
Revenue Agency web site in connection with
interest rates for the
first calendar quarter of
interest rate used to calculate taxable benefits for
employees and shareholders from interest-free and
low-interest loans will be 1%.
- Archives: 2014,