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Tax implications of COVID-19 programs

Business Owner at Laptop Tax Implications of Covid-19 Government Programs

Last updated Feb. 16, 2021. We will update blog posts when more information is released. Did your business take advantage of federal COVID-19 programs in 2020? If so, questions are likely racing through your mind about the tax implications of receiving benefits from the various programs. What do you need to report as income on … Read more

Highly Affected Sectors Credit Availability Program  

woman-using-calculator-with-laptop-math

The Highly Affected Sectors Credit Availability Program (HASCAP) is a new loan program from the federal government. HASCAP provides loans to Canadian businesses hardest-hit by the COVID-19 pandemic.  The program is designed for small businesses already receiving the Canada Emergency Wage Subsidy (CEWS) or the Canada Emergency Rent Subsidy (CERS).   However, if your business did not qualify for CEWS or … Read more

Why FBC supports Kids Help Phone

All youth should have access to mental health support – wherever they live Growing up can be a struggle at the best of times. For too many kids, it’s riddled with moments of feeling anxious, alone, and overwhelmed. Sadly, these moments often happen through the night, when access to help is limited. In fact, according … Read more

New T4 reporting requirements for the 2020 tax year

Person using laptop - FBC logo - image

Last year was different. The federal government introduced several support programs to help employers cope with the impacts of the pandemic. As a result, the Canada Revenue Agency (CRA) has their work cut out for them when it comes to validating payments for support programs. It doesn’t just affect them – as an employer, you’ll … Read more

TFSA limit for 2021 announced

Coins growing like plants - each year representing contribution growth image

Now that we’ve entered a new year, it’s a good time to plan for your annual tax-free savings account (TFSA) contribution. The Canada Revenue Agency (CRA) has announced a new TFSA limit for 2021.

Tax implications of COVID-19 programs

Business Owner at Laptop Tax Implications of Covid-19 Government Programs

Last updated Feb. 16, 2021. We will update blog posts when more information is released. Did your business take advantage of federal COVID-19 programs in 2020? If so, questions are likely racing through your mind about the tax implications of receiving benefits from the various programs. What do you need to report as income on … Read more

2020 Fall Economic Update

Federal Government Fall Economic Update

Last updated Dec. 4, 2020. We will update blog posts when more information is released. This week Finance Minister Chrystia Freeland unveiled the federal government’s fall economic update. The government presented a three-year stimulus package, which they say will “provide the fiscal support the Canadian economy needs to operate at its full capacity and to stop … Read more

FBC Member Spotlight: Canada’s Grocery Store and More

Lori and Bobby Hurry - Lake Fraser - FBC Member Spotlight

When the Endako Mine closed at the end of 2014, the Village of Fraser Lake lost its biggest employer. About a year later, the only grocery store in the community closed too. With just a convenience store in town, Fraser Lake residents had to drive almost an hour to the nearest supermarket to stock up … Read more