Working from home? Keep track of your expenses and ask me how this impacts you at tax time!

• By admin
• May 9, 2020

https://www.cp24.com/mobile/news/so-you-re-working-from-home-what-does-that-mean-for-your-tax-return-1.4931113

• By admin
• May 6, 2020

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Your CERB money is taxable.

• By admin
• April 18, 2020

I have been asked about this a lot. Since a family member posted this before I could write about it, see the attached link on how CERB will be handled come tax time in 2021. https://globalnews.ca/news/6831951/cerb-taxable/?fbclid=IwAR3n4pxv2vN_CA5zGE-yuuPng5cFZX4JnO4bBWi39_3DNtX3GZY8X-hDDPQ

Canada Emergency Wage Subsidy Updates

• By admin
• April 16, 2020

Did you know that sole proprietors can now be eligible for the 75% wage subsidy if they meet certain criteria? If you would like to learn more, contact me for details!

CRA direct deposit

• By admin
• April 3, 2020

For anyone not currently set up with CRA for direct deposit, I recommend doing so ASAP, especially if you are expecting Canada Emergency Response Benefit payments. Get them in your hands sooner. This can be done in your CRA account https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html or within online banking of most major banks.

Details released on 75% wage subsidy for businesses

• By admin
• April 1, 2020

30% decrease in revenue, month compared to prior year to qualify Must apply each month for the subsidy (March, April, May) Subject to maximum amounts. Contact me for details Special rules for non arms length employees Applies to businesses of all sizes Steep penalties for non compliance

Interest free business loans

• By admin
• March 28, 2020

The Federal government announced that it will back interest free loans to businesses up to $40,000. $10,000 to be forgiven if certain criteria are met. Details available in coming days.

Major announcement from the PM today for small businesses. Wage subsidy increase to 75% and GST/HST payment deferral will be available.

• By admin
• March 27, 2020

https://www.ctvnews.ca/health/coronavirus/pm-hikes-wage-subsidy-so-smaller-businesses-come-back-strong-1.4870893?fbclid=IwAR0yuGLpHumL82zl5bjYJAqVYDnp_XpptLMB9mytcNgWkZ6vYqwx4IaB0og