Fact Sheet - HST Credit? What’s That?
Since July 2010, the Canada Revenue Agency (CRA) has adopted a new program to refund GST/HST paid by pension plan administrators on services related to the running of a registered pension plan. This program is not applicable to RRSP annuitants.
Read more about it on the CRA’s website:
· http://www.cra-‐arc.gc.ca/E/pbg/gf/rc4607/rc4607-‐14e.pdf
· http://www.cra.gc.ca/gsthst, and look up GST/HST Notice 257, The GST/HST Rebate for Pension Entities, or call the CRA at 1-‐855-‐666-‐5166.
Under this program, a registered pension plan administrator who files a special return (RC4607) can receive a refund of 33% of all HST paid in connection with the pension plan. The new program is authorized by Section 261.01 of the Excise Tax Act.
For example, if during the course of a year, a pension plan paid $10,000 in fees, with
$1,300 in HST, the CRA will refund the plan administrator $433 (33% of $1,300).
Fact Sheet - Dividends or Salary?
Owners of Canadian Controlled Private Corporations (“CCPC”) have more choices than employees in terms of how to get compensated. The easiest method is through salaries and bonuses. Like all other salaried Canadians, the owner will have to pay taxes on their personal income at graduated income tax brackets.
Fact Sheet - Moving from an IPP to an INTEGRIS PPP (Trust platform to Trust platform)
Legally, in order to transfer an established IPP from its current provider to an INTEGRIS PPP, the steps will depend on the platform (insurance or trust) on which the pension plan is established and the platform to which it will be moving. Generally, where an IPP moves from a trust platform to a PPP structured on a trust platform, the following steps must occur: