Higher Ltd payments sence Jan this yr

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Higher Ltd payments sence Jan this yr

Post by ceedee on Wed 08 Apr 2015, 04:12

Sence the new yr my ltd payment went up by almost 200 bucks take home. did anyone else go up a fair bit. I am pretty sure the cost of living is not that much. I am just wondering why. So if u have any info Your 2 cents is more than welcome.
Tks

ceedee
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Re: Higher Ltd payments sence Jan this yr

Post by Guest on Wed 08 Apr 2015, 07:00

When in doubt call Sisip ltd CM ..which i did months ago.... its Revenue Canada new policy regarding how much to deduct from an LTD payment....

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Re: Higher Ltd payments sence Jan this yr

Post by ceedee on Wed 08 Apr 2015, 07:35

right on cofferfit. Thanks man maybe I will give them a call. Figured if I asked here I would get a easier answer to understand. Thanks again man

ceedee
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Re: Higher Ltd payments sence Jan this yr

Post by Guest on Wed 08 Apr 2015, 07:54

Hi ceedee, what you should do is fill out a TD1 Personal Tax Credits Return form and submit to Manulife. Many found that their LTD increased substantially and it was discovered as cofferfit says above  that it is a new policy however it will affect you come tax time not paying enough taxes on your increase especially in combination with other income sources. I have already sent mine in and several others on csat have as well. Unfortunately calling Manulife they can not make the change without the form being submitted to them so I attached the link. As well, the thread TD1 Form will explain in detail. Hope this helps ceedee.

http://www.cra-arc.gc.ca/E/pbg/tf/td1/README.html

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Re: Higher Ltd payments sence Jan this yr

Post by Guest on Wed 08 Apr 2015, 08:04

The hell with precautions spend like you got a 200 buck raise! Life is tooo Short to be filling out TD1 ..... besides the RC interests rates are reasonable for taxes owing..............

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Re: Higher Ltd payments sence Jan this yr

Post by Guest on Wed 08 Apr 2015, 08:05

Very Happy

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Re: Higher Ltd payments sence Jan this yr

Post by ceedee on Wed 08 Apr 2015, 08:46

Sparrow as always thank you. Will check it out.

ceedee
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