There are many factors that influence what your CPP payment will be including:
In 2021, the maximum monthly amount you can receive as a new recipient starting the pension at age 65 is $1,203.75. As of October 2020, the average monthly CPP amount was $614.21.
A reminder that if you are claiming other employment expenses, the following documentation should be kept on hand in case of CRA review:
Your receipts for the purchase of merchandise or services have to show the following:
More information regarding other employment expenses can be found on the Government of Canada’s website.
Owners of corporations can pay themselves with wages, dividends, or a combination of both. A common question for these owners is what is the best way to pay themselves. There are advantages and drawbacks to both, and it depends on the circumstances of the owner.
Phone: 780-532-4641
Fax: 780-532-4947
Toll Free: 1-800-422-6093
Email: office@fulcrumgroup.ca
#102, 9919 – 99 Avenue
Grande Prairie, AB
T8V 0R6
