1trailmaker Posted January 12, 2018 Share Posted January 12, 2018 6 hours ago, 02sled said: You really don't get it... give them a choice... CPP or automated transfers to a locked in retirement account. You don't do the personal account and you are then forced into CPP. Your employer in most cases pays electronically directly to your bank account. Add one more automated transfer where a % is paid to a retirement account instead of CPP. Very doable. If at the end of the year when filing your taxes you don't have a receipt for a contribution to a retirement account that is equal to or more than you would have put into CPP that amount becomes owing to CRA just like income taxes owing. what the fuck is wrong with yoyo> Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 12, 2018 Share Posted January 12, 2018 Thanks JT, thanks Notley. While the US steams ahead we are spinning our wheels. http://business.financialpost.com/commodities/energy/u-s-oil-boom-creating-jobs-and-curbing-emissions-in-contrast-to-restrained-canadian-energy-policy Quote Link to comment Share on other sites More sharing options...
steve6 Posted January 12, 2018 Share Posted January 12, 2018 46 minutes ago, ArcticCrusher said: Thanks JT, thanks Notley. While the US steams ahead we are spinning our wheels. http://business.financialpost.com/commodities/energy/u-s-oil-boom-creating-jobs-and-curbing-emissions-in-contrast-to-restrained-canadian-energy-policy Jesus Christ that was a difficult article to read through. Ahhh, I get it Claudia Cattaneo is the Western Business Columnist at the National Post, where she covers business and policy issues shaping enterprise across the West. Claudia previously served as the Financial Post’s Calgary Bureau Chief, specializing in energy coverage, and has worked at the Calgary Herald The real JT, doing an amazing job for ALL of Canada, not just temporary, over-paid workers in Alberta, see below: http://business.financialpost.com/news/economy/canadas-unemployment-rate-declines-to-lowest-in-four-decades Thanks Buddy. Quote Link to comment Share on other sites More sharing options...
02sled Posted January 12, 2018 Share Posted January 12, 2018 (edited) 13 hours ago, 1trailmaker said: what the fuck is wrong with yoyo> You can't understand the concept of letting people opt out of CPP provided they contribute the same percentage of their income to a locked in retirement account. but we already know that Edited January 12, 2018 by 02sled Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 12, 2018 Share Posted January 12, 2018 1 hour ago, steve6 said: Jesus Christ that was a difficult article to read through. Ahhh, I get it Claudia Cattaneo is the Western Business Columnist at the National Post, where she covers business and policy issues shaping enterprise across the West. Claudia previously served as the Financial Post’s Calgary Bureau Chief, specializing in energy coverage, and has worked at the Calgary Herald The real JT, doing an amazing job for ALL of Canada, not just temporary, over-paid workers in Alberta, see below: http://business.financialpost.com/news/economy/canadas-unemployment-rate-declines-to-lowest-in-four-decades Thanks Buddy. Was real simple article actual. JT is doing such an amazing job we now have deficits forecasted for decades and debt tripling over that time. Great job growth, the US is where the action is buddy. Like him or not Trump is bringing it back home. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 12, 2018 Share Posted January 12, 2018 Great projections. Quote An internal Finance memo obtained by the CBC through access-to-information legislation, predicted annual economic growth of just 1.7 per cent over the next five years — a sharp decline from the 3.7 per cent growth rate of the last year. https://www.theglobeandmail.com/report-on-business/economy/morneau-still-committed-to-deficit-reduction-despite-slower-economy/article37589061/ Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted January 12, 2018 Share Posted January 12, 2018 1 hour ago, 02sled said: You can't understand the concept of letting people opt out of CPP provided they contribute the same percentage of their income to a locked in retirement account. but we already know that That isn't how it works If you don't want CPP open a business and become self employed Quote Link to comment Share on other sites More sharing options...
02sled Posted January 12, 2018 Share Posted January 12, 2018 4 minutes ago, 1trailmaker said: That isn't how it works If you don't want CPP open a business and become self employed It may not the way it works now but it could be. I guarantee if I had of invested the same amount of money into a locked in retirement account as I put into CPP I would be a lot further ahead financially. Also when I die the residual money goes to my estate not the CPP plan. Think Fail, if you can remember far enough back, I know that's a challenge. Last year Wynnebag was touting a mandatory Ontario Pension Plan unless you had one of your own. Same concept as I suggested. No different other than that was provincial and CPP is federal. Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted January 12, 2018 Share Posted January 12, 2018 6 minutes ago, 02sled said: It may not the way it works now but it could be. I guarantee if I had of invested the same amount of money into a locked in retirement account as I put into CPP I would be a lot further ahead financially. Also when I die the residual money goes to my estate not the CPP plan. Think Fail, if you can remember far enough back, I know that's a challenge. Last year Wynnebag was touting a mandatory Ontario Pension Plan unless you had one of your own. Same concept as I suggested. No different other than that was provincial and CPP is federal. if you had a registered pension plan at work, you didn't have to have Ontario Pension - nothing to do with saving your own money Quote Link to comment Share on other sites More sharing options...
02sled Posted January 12, 2018 Share Posted January 12, 2018 6 minutes ago, 1trailmaker said: if you had a registered pension plan at work, you didn't have to have Ontario Pension - nothing to do with saving your own money You really can't be as stupid as you make out.... If you had your own Retirement Savings Plan you could have also been excluded from the Wynnnebag Plan. Same rationale could be applied to CPP. In 2018 the between the employer and the employee the contribution is 4.95% of income to a maximum of $2593.80 for CPP. It's wild you can't fathom the concept that if you put 4.95% of your income into a LIRA the feds could allow you to opt out of CPP. Maybe this site could be of assistance for you http://www.camh.ca/en/hospital/visiting_camh/rights_and_policies/Pages/challenges_choices_getassess.aspx 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 12, 2018 Share Posted January 12, 2018 33 minutes ago, 1trailmaker said: That isn't how it works If you don't want CPP open a business and become self employed Still pay cpp. You're thinking ei. Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted January 12, 2018 Share Posted January 12, 2018 6 minutes ago, ArcticCrusher said: Still pay cpp. You're thinking ei. yea forgot the rule change a few years back Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 12, 2018 Share Posted January 12, 2018 3 hours ago, 1trailmaker said: yea forgot the rule change a few years back What rule change? Always been that way as far as I can remember. Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted January 12, 2018 Share Posted January 12, 2018 5 minutes ago, ArcticCrusher said: What rule change? Always been that way as far as I can remember. wasn't it 2012? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 13, 2018 Share Posted January 13, 2018 9 minutes ago, 1trailmaker said: wasn't it 2012? I don't think so. If you paid yourself 100% with dividends then you should be exempt, but then your RRSP limit is also nil. Quote Link to comment Share on other sites More sharing options...
02sled Posted January 13, 2018 Share Posted January 13, 2018 19 hours ago, 1trailmaker said: yea forgot the rule change a few years back 15 hours ago, ArcticCrusher said: What rule change? Always been that way as far as I can remember. 15 hours ago, 1trailmaker said: wasn't it 2012? 15 hours ago, ArcticCrusher said: I don't think so. If you paid yourself 100% with dividends then you should be exempt, but then your RRSP limit is also nil. Still wrong Fail Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 13, 2018 Share Posted January 13, 2018 1 hour ago, 02sled said: Still wrong Fail No biggie. Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted January 13, 2018 Share Posted January 13, 2018 21 hours ago, 02sled said: You really can't be as stupid as you make out.... If you had your own Retirement Savings Plan you could have also been excluded from the Wynnnebag Plan. Same rationale could be applied to CPP. In 2018 the between the employer and the employee the contribution is 4.95% of income to a maximum of $2593.80 for CPP. It's wild you can't fathom the concept that if you put 4.95% of your income into a LIRA the feds could allow you to opt out of CPP. Maybe this site could be of assistance for you http://www.camh.ca/en/hospital/visiting_camh/rights_and_policies/Pages/challenges_choices_getassess.aspx would you be wanting the employers share too? maybe a cheque every year Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 13, 2018 Share Posted January 13, 2018 8 minutes ago, 1trailmaker said: would you be wanting the employers share too? maybe a cheque every year I would take it as extra RRSP contribution room. Quote Link to comment Share on other sites More sharing options...
02sled Posted January 13, 2018 Share Posted January 13, 2018 27 minutes ago, 1trailmaker said: would you be wanting the employers share too? maybe a cheque every year Step into the electronic age Fail... when the employer processes the payroll and deposits automatically into your bank account they can also deposit to a LIRA as well including what they would contribute to CPP OR if you choose not to have your own then make the payment to CPP. It's not rocket science. Just give people the choice. Anyone with any sense would opt out of CPP. Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted January 13, 2018 Share Posted January 13, 2018 2 minutes ago, 02sled said: Step into the electronic age Fail... when the employer processes the payroll and deposits automatically into your bank account they can also deposit to a LIRA as well including what they would contribute to CPP OR if you choose not to have your own then make the payment to CPP. It's not rocket science. Just give people the choice. Anyone with any sense would opt out of CPP. in your world, would you be able to opt out of CPP and spend that money on food? Quote Link to comment Share on other sites More sharing options...
02sled Posted January 13, 2018 Share Posted January 13, 2018 8 minutes ago, 1trailmaker said: in your world, would you be able to opt out of CPP and spend that money on food? more stupidity from the village idiot... your comprehension is lower than grade 1 - maybe in large bold you may get it. Contribute to CPP OR contribute the same amount to a Locked In Retirement Account. You have the choice and must choose one. Where the hell do you get spending that money on food from... oh that's right your delusional mind. dumb as a stump Fail continues. Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted January 13, 2018 Share Posted January 13, 2018 1 hour ago, 02sled said: more stupidity from the village idiot... your comprehension is lower than grade 1 - maybe in large bold you may get it. Contribute to CPP OR contribute the same amount to a Locked In Retirement Account. You have the choice and must choose one. Where the hell do you get spending that money on food from... oh that's right your delusional mind. dumb as a stump Fail continues. will this be the employers responsibility to make sure funds are properly deducted or is this the honor system does the business have to submit papers on who is getting what deducted? Quote Link to comment Share on other sites More sharing options...
02sled Posted January 13, 2018 Share Posted January 13, 2018 (edited) 1 hour ago, 1trailmaker said: will this be the employers responsibility to make sure funds are properly deducted or is this the honor system does the business have to submit papers on who is getting what deducted? You really don't pay attention do you... automated payroll deduction with an automated transfer just like CPP is. One or the other. Just like Wynnebag was proffering for people here. You pay into the Ontario Pension Plan or one of your own. You don't think Trudope can do it but Wynnebag can? Quebec chose to opt out of CPP. Edited January 13, 2018 by 02sled Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted January 13, 2018 Share Posted January 13, 2018 7 minutes ago, 02sled said: You really don't pay attention do you... automated payroll deduction with an automated transfer just like CPP is. One or the other. Just like Wynnebag was proffering for people here. You pay into the Ontario Pension Plan or one of your own. You don't think Trudope can do it but Wynnebag can? Quebec chose to opt out of CPP. so it will be the business responsibility not sure about Joe's carpets having full auto pay system installed but hey he can spend the money on that so you don't have to have CPP but that is only about 80% of small businesses - when a person changes jobs who does the paper work for the switch over? will it be instant like CPP? you sure do like creating work for owners Quote Link to comment Share on other sites More sharing options...
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