All Questions
19
questions
2
votes
0
answers
36
views
I get a pension from having been a Federal Employee; I also work part-time for my family's business. Do I need to pay into EI?
So, I worked for the Federal government most of my life, I retired 2 years ago and I get my pension. In addition, I work about 30 hrs/week in the office of my family's business, do I have to pay EI? ...
- 21
2
votes
1
answer
139
views
Received lump sum payments for OAS, GIS application (for last 3 years) with one T4 slip in 2019. How can we still qualify for "refundable tax credit"
My uncle & aunt in Canada applied for their OAS (Old age security) & GIS (Guaranteed Income Supplement) & Allowance payments in January 2017 and they were qualified to receive all benefits ...
- 185
2
votes
0
answers
74
views
Canada Pension Plan Transfer
I have lived for three years in Canada, and made three contributions to the CPP. I now live in Switzerland and do not plan to return to Canada ever.
Is there any way to transfer these contributions ...
- 121
2
votes
1
answer
65
views
Is Pension income a part of my Personal Tax Income
My parents retired, and they will be receiving monthly payments from pension and those things. We live in Ontario.
Do these count towards their income tax brackets?
Are there other taxes they should ...
- 353
3
votes
1
answer
67
views
How are Canada Pension Plan payroll deductions paid by both employee and the company?
I am thinking on moving to Canada but I want to calculate what my salary would be after taxes. I am using the tax calculator at https://simpletax.ca/calculator but there's still one thing I can't wrap ...
user88269
2
votes
0
answers
39
views
Residential requirement for Canadian living abroad to collect pensions?
I have been told by numerous individuals that one is required to return to Canada for a certain period of time, whilst living abroad, in order to continue to collect my Senior benefits from the ...
1
vote
0
answers
43
views
Tax sheltered investment vehicles for retirement in Canada
Is there any investment vehicles to tax shelter income for retirement on top of RRSP & Pension?
I know about LIRA. When you switch job you usually get your pension funds transferred into LIRA.
...
- 185
2
votes
0
answers
45
views
Relationship between RRSP and Pension plan in Canada
What is relationship between RRSP and Pension? I know that contribution to Pension Plan reduces your contribution limit to RRSP but is it only certain kind of Pension Plan or all? Does it matter if it ...
- 185
2
votes
0
answers
113
views
Do I have to pay into Canada Pension Plan (CPP) as part time contractor?
I have a fulltime job with a company but in my spare time I do some contractor work for a few clients I gathered overtime. I understand that I have to pay income tax at the end of the year over my ...
- 21
3
votes
1
answer
846
views
Does it ever make sense not to join DC pension?
Background
I have always contributed the maximum possible amount to my RRSP (and TFSA for that matter). My portfolio is comprised of a diverse mix of low-cost ETFs in a self-directed account. In my ...
- 145
0
votes
1
answer
190
views
How to save on taxes due on a lump sum pension payment
Upon resigning from a company, if employer offers a lump sum pension payment of 100k, what are some ways to save on tax on this 100k?
Assuming this 100k, is the only income that year, the RRSP room is ...
- 16k
1
vote
0
answers
110
views
What is the method to calculate pension adjustment as shown on a T4?
How does an employer calculate Pension Adjustment (Box 52 on T4). Is it the amount of money that the employer contributes on my behalf each year to the company's pension plan + any optional ...
- 16k
2
votes
1
answer
227
views
OAS And spouse's allowance
I just turned 64 three months ago and am currently receiving spouse's allowance. Can I submit the OAS application now or should I wait?
- 21
2
votes
1
answer
5k
views
Do you still get CPP/OAS if you live outside Canada
If a Canadian citizen decides to spend retirement years outside Canada, do they still get the full amount for CPP/OAS? or do they need to have residence in Canada?
- 16k
1
vote
1
answer
178
views
Is the earliest retirement age set by candian government or by the employer
My employer tells me that there is a concept of an 'earliest retirement age' which happens to be 55. basically if I retire at 55 instead of 65, the formula for the company pension (not Canada pension ...
- 16k