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Finance Department Announcement – some good news for taxpayers but still some uncertainty.
The Department of Finance released an announcement earlier today as a partial response to the consultations received from taxpayers and advisors related to the proposed tax changes from July. We have a summary of the main points here.
Changes to the Canada Pension Plan (CPP) and Old Age Security (OAS) programs have increased the flexibility of those programs including the new CPP post-retirement benefit (PRB). Keep reading for the details!