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The Canada Revenue Agency ( CRA; French: Agence du revenu du Canada; ARC) is the revenue service of the Canadian federal government, and most provincial and territorial governments. The CRA collects taxes, administers tax law and policy, and delivers benefit programs and tax credits. [4] Legislation administered by the CRA includes the Income ...
A social insurance number (SIN) ( French: numéro d'assurance sociale (NAS)) is a number issued in Canada to administer various government programs. The SIN was created in 1964 to serve as a client account number in the administration of the Canada Pension Plan and Canada's varied employment insurance programs.
The Canada Pension Plan ( CPP; French: Régime de pensions du Canada) is a contributory, earnings-related social insurance program. It forms one of the two major components of Canada 's public retirement income system, the other component being Old Age Security (OAS).
First, create an account before a crook who has stolen or hacked your Social Security number or other personal information uses that info to create an SSA.gov account in your name — and then ...
Registered retirement savings plan. A registered retirement savings plan ( RRSP) ( French: régime enregistré d'épargne-retraite, REER ), or retirement savings plan ( RSP ), is a type of financial account in Canada for holding savings and investment assets. RRSPs have various tax advantages compared to investing outside of tax-preferred accounts.
You must pay taxes on your Social Security benefits if you file a federal tax return as an individual and your combined income exceeds $25,000 a year. If you file a joint return, you must pay ...
One-half of your Social Security benefits. All other income, including tax-exempt interest payments. So, if you received $20,000 in Social Security benefits and no other income, your gross income ...
File a federal tax return as an individual. If your combined income is between $25,000 and $34,000, you may have to pay income tax on up to 50% of your benefits. If it’s more than $34,000, up to ...