Vine and Partners

The federal government has proposed to reduce the base CPP contribution rate from 9.9% to 9.5%, effective January 1, 2027. This would reduce CPP contributions by about $133 for both the employee and employer where the employee earns $70,000.

📢 The new Canada Groceries and Essentials Benefit is coming soon!

June 5th: If entitled, you can expect an additional one-time payment equal to 50% of your 2025/26 annual GST/HST credit. This payment may still be called GST/HST credit in your account.

July 3rd: There will be a 25% increase to the quarterly payments, and as of July, the payments will be referred to as Canada Groceries and Essentials Benefit.

Find out if you’re eligible ➡️ https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-groceries-essentials-benefit.html?utm_content=2026-04-20_2240

[Image description: A person shopping for groceries smells an orange.]

For 2026, the limit on the deduction for non-taxable allowances paid by an employer to an employee using a personal vehicle for business purposes will increase by one cent to 73¢ per km for the first 5,000 kms driven and to 67¢ for each additional km

Tax is probably your biggest expense and early tax planning is critical. Vine and Partners specialize in helping our clientele preserve wealth through effective tax planning.

Happy Long Week-end!

Is your small business in Canada starting to grow?
Once you hit $30K in taxable sales, it’s time to register for a GST/HST account!
TIP: You’ll need a business number first before registering for GST/HST

After the end of this tax season, we’re permanently closing our drop box locations across Canada. As of May 29th, you’ll need to file your return, make a payment or submit documents one of these ways: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2026/drop-boxes-permanently-close-after-2026-tax-filing-season.html?utm_content=2026-03-27_1912&utm_term=ABSB_Facebook_dropboxes

[Image description: An exclamation mark, “Important changes to drop boxes”.]

Happy Mother's Day 🩷

Ode to mom “Keep a hidden “peace of mind” fund for emergencies.

Mom used to say “Buy quality for things between you and the ground: shoes, tires, mattresses.”