WELCOME TO THE MBT!
NEW TO UBCP?
News and Meetings
Read this before you go. MBT Travel Bulletin
TFSAs are HERE!The Retirement Benefits Society is now offering Tax Free Savings Accounts to our Members. If you are interested in setting up a TFSA click here to go to Everything You Need and complete the form or click here to access the form directly. If you need more information, then click here to go to a video presentation from GWL about TFSAs or click here to go to Everything You Need and access the appropriate booklet for your age.
Any further inquiries can be directed to our office by email: Sarah King
ARE YOU A U.S. PERSON?
IMPORTANT INFORMATION on TFSAs for U.S. PERSONS
TFSA accounts have no special treatment under U.S. domestic tax law or under the Canada-U.S. Income Tax Convention (the Treaty). They do not receive the tax-deferred or tax-free treatment for U.S. purposes that they do in Canada. Therefore, the income generated by these accounts is taxable to the contributor.Click here for more information.
CRA Tax Interpretation
Click here for a copy of the technical interpretation from CRA regarding the inclusion of insurance contributions on the T4A. CRA has confirmed that payroll companies should not be including insurance contributions on the T4As for MBT members. Click here for a copy of the notice sent with your T3 slip.
The CRA recently advised the UBCP RBS that they will no longer accept authorizations which were submitted on behalf of members over the past 10 years as these authorizations were not entered in the CRA system. In order for the UBCP RBS to continue the automatic transfer of funds from your NRSP Account to your RRSP Account you must sign a new authorization form. This authorization grants permission to the UBCP RBS to obtain information pertaining to your available RRSP contribution room and carry forward amounts. The UBCP RBS will not have access to any other information. Please complete a CRA Authorization Form and return to the MBT/RBS office by Oct. 31, 2015 in order to ensure your funds will be transferred. If you do not complete a form you will be responsible for requesting the transfer to your RRSP with GWL.