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Liberal Ranks Grow as Michael Ma Joins Carney’s Team

                      Markham-Unionville MP Michael Ma crossed the floor to join the Liberals on Thursday. In a dramatic political shift on Parliament Hill, Michael Ma, the Member of Parliament for Markham–Unionville, announced on December 11, 2025, that he is leaving the Conservative caucus to sit with the Liberals . His decision follows weeks of consultation with constituents and family, and comes on the heels of Nova Scotia MP Chris d’Entremont’s defection last month. Ma explained that his move was motivated by a desire for “unity and decisive action for Canada’s future.” He praised Prime Minister Mark Carney’s leadership, describing it as a steady and practical approach to tackling pressing issues such as affordability, economic growth, community safety, and opportunities for young families. The floor-crossing is politically significant: the Liberals now hold 171 seats, just one short of a majority in the House of...
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How to Determine Your Tax Withholding and Avoid Surprises Next Filing Season

 

Navigating the Canadian tax system can be complex, but understanding your tax withholding is crucial to avoid unexpected bills during tax season. Let’s explore how you can determine the right withholding and ensure a smoother financial journey.

Residency Status Matters

Before diving into tax withholding specifics, let’s address residency status. Your residency status impacts your tax obligations in Canada. Consider the following factors:

  1. Residential Ties: Significant ties to Canada include having a home, spouse, dependents, personal property, social ties, economic connections (like bank accounts), a Canadian driver’s license, or health insurance with a Canadian province or territory.
  2. Factual Resident: You may be considered a factual resident if you maintain residential ties with Canada while temporarily working abroad, teaching, commuting, or vacationing outside Canada.
  3. Emigrant: If you establish a permanent home in another country and sever ties with Canada, you cease to be a resident.
  4. Deemed Non-Resident: You maintain significant ties with Canada but establish residency in a country with a tax treaty. The same rules apply as for non-residents.

Tax Withholding Rates

When withdrawing funds from an RRSP (Registered Retirement Savings Plan), your financial institution withholds tax based on your residency and withdrawal amount:

  • For Canadian residents:
    • 10% (5% in Quebec) on amounts up to $5,000
    • 20% (10% in Quebec) on amounts from $5,000 to $15,000
    • 30% (15% in Quebec) on amounts over $15,000
    • Provincial tax is also withheld for Quebec residents.
  • For non-residents:
    • Withholding is 25% unless reduced by a tax treaty.

Practical Steps

  1. File Online: Register for direct deposit and file your return online using certified tax software. It’s faster and more efficient.
  2. Know Deadlines: For most Canadians, the filing deadline is April 30, 2023 (considered on time if received by May 1, 2023). Self-employed individuals have until June 15, 2023.
  3. Get Free Tax Help: If you have a modest income and a simple tax situation, consider free tax clinics.

Remember, understanding your residency status and managing tax withholding ensures a smoother tax season. Take control now to avoid surprises later!

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