National

Federal Tax Changes Come Into Effect As New Year Begins

Darpan News Desk The Canadian Press, 01 Jan, 2019 08:08 PM

OTTAWA — The new year brings with it tax changes at the federal level that will affect just about every Canadian, as well as small businesses.

One of the first changes workers will see is an increase in Canada Pension Plan premiums coming off their paycheques — the first of five years of hikes to pay for enhancements to the pension plan.

Employment Insurance premiums, on the other hand, will drop by four cents for every $100 of insurable earnings.

Meanwhile, the small business tax rate is going down from 10 to nine per cent. But changes to how much so-called passive income a small business can hold are also coming into effect, which is expected to push some businesses into paying a much higher corporate tax rate.

Also in 2019, low income workers can qualify for an increase in the Canada Workers Benefit. But they will have to wait until 2020 to receive the extra money.

The federal government's new carbon pricing system will also come into effect in provinces that don't have carbon pricing mechanisms of their own, resulting in higher costs for fossil fuels by April, and direct rebates to partly offset the increased costs.

Conservative Opposition Leader Andrew Scheer is already gearing up to make it an issue leading to the October federal election, calling 2019 the year of the carbon tax.

Prev Next

MORE National ARTICLES

NASA Wants Canadian Boots On The Moon As First Step In Deep Space Exploration

OTTAWA — The head of the U.S. space agency says he wants to see Canadian astronauts walking on the moon before long, as part of a first step toward the farther reaches of space.

NASA Wants Canadian Boots On The Moon As First Step In Deep Space Exploration

Expect No Quick End To Canada-Wide Cannabis Shortages, Producers Warn

The supply shortages that have plagued many provinces in the first month of legal cannabis will likely persist for years, industry insiders say.

Expect No Quick End To Canada-Wide Cannabis Shortages, Producers Warn

Canada 'Deeply Concerned' Over Possible Return Of Rohingya To Myanmar

OTTAWA — Canada is raising concerns over reports that Rohingya refugees will soon return to Myanmar — the country in which they have been targets of what has been officially declared a genocide.

Canada 'Deeply Concerned' Over Possible Return Of Rohingya To Myanmar

Pakistani Man Wants Canadian Law To Give Migrants In Detention Ability To Challenge The Imprisonment

OTTAWA — A man from Pakistan wants Canadian law to give migrants being held in detention the ability to challenge their imprisonment in front of a judge.

Pakistani Man Wants Canadian Law To Give Migrants In Detention Ability To Challenge The Imprisonment

Gear Worth Thousands Stolen From Merritt, B.C., Search And Rescue Team

MERRITT, B.C. — Gear worth thousands of dollars has been stolen from a search and rescue team in British Columbia's southern Interior after thieves broke into a storage facility twice in two days.

Gear Worth Thousands Stolen From Merritt, B.C., Search And Rescue Team

E. Coli Outbreak In B.C. Cheese Makes Five People Sick, Prompts Warning

VANCOUVER — An E. coli outbreak has made five people in British Columbia sick and the provincial centre for disease control is warning consumers to throw away or return Little Qualicum Cheeseworks Qualicum Spice cheese.