The maximum insurable earnings for 2011 has been set at $44,200, up from $43,200 in 2010. The premium rate has been increased to 1.78% from 1.73%.

A November 17th news release announced the suspension of the proposed tax reductions for 2011. The next budget will be tabled on February 15, 2011, with no new initiatives beyond what is statutorily required.

Haven't filed your 2000 tax return yet? Taxpayers are running out of time to file requests under the taxpayer relief provisions for the 2000 tax year and any reporting period that ended in the 2000 calendar year.

Why do you sometimes pay tax on the full price when you think you're buying something on sale? Many stores have in-store coupons that they apply, without the customer having to bring the coupon to the store themselves. Often, when a coupon is applied to reduce the price, the tax is charged on the full price before the coupon. When a GST/HST registrant is able to receive an input tax credit (ITC) for an item for which a manufacturers' rebate has been received, special rules apply to the ITC. When a vendor charges GST/HST on the full price before a coupon is applied, they must remit a portion of the coupon amount as GST/HST.

Our article on the changes to the CPP retirement pension indicated that the changes would not affect those currently collecting their CPP retirement pension. It will not affect the benefits of these people, but further contributions will be required starting in 2012 for those earning pensionable earnings, unless they have reached the age of 65, at which time it is possible to elect not to pay the contributions.

Budget 2010 proposed to allow a tax-deferred rollover of a deceased individual's RRSP/RRIF or RPP proceeds to the Registered Disability Savings Plan (RDSP) of a financially dependent infirm child or grandchild. This will be effective for deaths occurring on or after March 4, 2010. The actual transfer to the RDSP, however, cannot be made until after June 2011. Transitional rules are provided for individuals who die after 2007 and before 2011. Legislation was included in Bill C-47, introduced in the House of Commons on September 30th.

The maximum Canada Pension Plan pensionable earnings for 2011 will be $48,300, as compared to $47,200 for 2010. The rate remains unchanged at 4.95%, and 9.9% for self-employed. The maximum employer and employee contribution for 2011 will be $2,216.60, and the maximum self-employed contribution will be $4,435.20.

Taxpayer relief provisions are in effect which would assist any individual or business unable to meet their tax obligations because of Hurricane Igor. Requests are considered on a case-by-case basis.

Bill C-47 was introduced in the House of Commons on September 30th, 2010, to implement measures introduced in the March 2010 Budget.

Effective July 2011, Québec's solidarity tax credit replaced three other tax credits. Individuals must meet eligibility requirements to receive this tax credit, and must be registered for direct deposit to receive payment of the tax credit.

Capital gains can be eliminated by donating capital property, such as securities, to qualified donees. This should be done by November or early December to avoid the busy season and ensure the transactions are completed before year end.

100% capital cost allowance in the year of purchase is still available for computers purchased after January 27, 2009 and before February 2011.

The superficial loss rules provide a method for capital losses to be transferred to a spouse. The spouse must hold the shares for more than 30 days for this to work, so to do this for 2010 you would have to act soon.

As a result of the HST being introduced in BC and Ontario, there are many new forms and publications related to GST and HST. On our GST/HST page under the GST/HST Topics for Businesses, we have added a link to all GST/HST forms and publications.

The 2010 Tax Comparison by Province has been updated to include the tax changes in Nova Scotia and Newfoundland and Labrador. There are now 2 tables, one comparing taxes paid by a single person, and one comparing taxes paid by a married person with 2 children, with the spouse having no income.

Draft legislative proposals were released for consultation on August 27, 2010. These proposals are to implement tax measures from Budget 2010 as well as several previously announced tax initiatives.

A loan by an employer or a third party to an employee, or the subsidization of an employee loan, may result in a deemed taxable benefit being included in the income of the employee. However, when a home relocation loan to an employee results in a taxable benefit being included in the employee's income, a home relocation loan benefit deduction is available to the employee, which would partially offset the taxable benefit.

The QC My Account Online can now be used to claim the QST credit, obtain information on claiming the QST credit or the credit for individuals living in northern villages, or to claim the tax credit for home improvement and renovation, or adjust a claim.

We have added a table showing most of the Quebec tax credits and deductions that are adjusted for inflation each year. Amounts for 2010 and 2009 are included.

A gift or award given to an employee is usually a taxable benefit to the employee. Canada Revenue Agency now has an online series of questions which can be answered by an employer to determine if there is a taxable benefit for any item provided to an employee.