Canadians not familiar with specific tax deadlines: Study • 7 in 10 workers didn’t use all vacation time in 2012: Survey • CPI edges up slightly in November • Canada marks another month of strong jobs growth • Family caregiver tax credit now available • Quebec set to increase minimum wage
Canadians not familiar with specific tax deadlines: Study
TORONTO — Ninety-three per cent of Canadians believe they are familiar with income tax deadlines, according to a study by BMO Nesbitt Burns. However, when asked about various, specific tax deadlines, many did not know the correct dates for:
• charitable donations and tax credit/deduction deadline (61 per cent unaware of the correct date)
• RRSP contribution deadline for those turning 71 (70 per cent unaware)
• payment of quarterly tax installments deadline (73 per cent unaware)
• TFSA withdrawal deadline (78 per cent unaware)
• tax-loss selling deadline (85 per cent unaware)
Visit www.payroll-reporter.com/articleview/16934 for deadline dates.
7 in 10 workers didn’t use all vacation time in 2012: Survey
PHILADELPHIA — Most employees failed to use all their vacation time in 2012, according to a survey by Right Management.
Seventy per cent of employees said they did not take all the time due them, while just 30 per cent said they had, found the survey of 700 Canadian and American workers. The findings are consistent with those of a similar survey one year ago, where 70 per cent reported not using all their vacation time in 2011.
CPI edges up slightly in November
OTTAWA — The consumer price index rose 0.8 per cent in the 12 months to November, following a 1.2 per cent gain in October, according to Statistics Canada.
The November increase was the smallest year-over-year gain in the CPI since October 2009.
A big reason for the slower increase in November compared with October was attributable to a smaller year-over-year price increase for gasoline, as well as price decreases for the purchase of passenger vehicles.
Canada marks another month of strong jobs growth
OTTAWA (Reuters) — Canada's economy created far more jobs than expected in December, defying expectations amid sluggish growth and fears about the United States "fiscal cliff" and increasing the likelihood of a central bank rate hike this year.
The economy added 39,800 jobs in December from November, Statistics Canada said, well above market expectations for 5,000 jobs and surpassing even the most bullish prediction in a Reuters poll.
The unemployment rate dipped to 7.1 per cent from 7.2 per cent in November while market players had expected it to rise a notch.
Family caregiver tax credit now available
OTTAWA — As the calendar turns to a new year, the federal government is reminding filers that there is a new tax credit on the books — the Family Caregiver Tax Credit.
The credit is a 15 per cent, non-refundable tax credit on an amount of $2,000 that provides tax relief to caregivers of infirm dependant relatives. This includes, for the first time, infirm spouses, common-law partners and minor children, according to the Canada Revenue Agency.
Quebec set to increase minimum wage
MONTREAL — Quebec will be increasing its general minimum wage rate on May 1 from $9.90 per hour to $10.15 per hour, according to Labour Minister Agnès Maltais.
For employees who receive gratuities or tips, the rate will increase from $8.55 per hour to $8.75 per hour on May 1.
Raspberry pickers will see their current rate of $2.91 per kilogram rising to $2.98 per kilogram. The rate for strawberry pickers will rise from $0.77 per kilogram to $0.79 per kilogram.
