Canada Revenue Agency: How Will 2021 CPP Changes Reduce Your Tax Bill?

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This year, many Canadians lost their jobs, as the COVID-19 pandemic took a toll on businesses. The government initiated one of its biggest stimulus packages, distributing $2,000/month in cash benefits. Things are gradually normalizing, and people are returning to work. The new year will bring changes to taxation and contributions. Service Canada is increasing the Canada Pension Plan (CPP) contributions in 2021 as part of its CPP enhancement program.

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Original Article Source Credits:   The Motley Fool ,

Article Written By:  Puja Tayal 

Original Article Posted on:  December 14, 2020

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