Tax & Accounting Book-keeping & Consulting OtherBeginning in 2012, changes to the Canada Pension Plan will be made which will affect Canadians who are between the ages of 65 and 70 and, although currently receiving Canada Pension Plan retirement benefits, remain in or return to the workforce.
As of January 1, 2012, such employees will once again be required to make CPP contributions, unless they file an election choosing not to do so. The form to be used to file that election—CPT 30—is now available on the Canada Revenue Agency (CRA) Web site at http://www.cra-arc.gc.ca/E/pbg/tf/cpt30/cpt30-11e.pdf.
Any such election made takes effect as of the beginning of the following month. The CRA is therefore directing taxpayers who intend to file the election not to complete or send Form CPT 30 until after December 1, 2011.