Last updated: Jan. 6, 2022
Update: The federal government has announced that it will be expanding eligibility for the Canada Worker Lockdown Benefit (CWLB). Affected Canadian workers in designated lockdown regions can now apply for CWLB starting December 30th, 2021. Please see below for more details and eligibility criteria. For more information, please read our … Read more
Last updated: Jan. 5, 2022
Bill C2 received Royal Assent in Parliament, passing legislation for the recently proposed extensions to individual and business COVID-19 support programs.
We provide a summary of these programs here and will update as more information comes available. Canada Worker Lockdown Benefit The Canada Worker Lockdown Benefit (CWLB) gives temporary … Read more
Last updated: Jan. 5, 2022 After three generations of running a maple sugar bush and custom crop farm, the Palmateer family thought they’d seen it all – then COVID-19 hit. With no in-person sap season events or annual pancake breakfast weekends to help promote their Palmateer Maple Syrup, they found themselves facing an unprecedented challenge … Read more
Last updated: Jan. 5, 2022 Click here to read our updated blog for 2023 We’re nearing the end of 2021 and it’s a good time to think about building up your tax-free savings account (TFSA). If you haven’t already opened an account, you may want to consider starting one. We’ve covered the TFSA rules and … Read more
Last updated: Jan. 5, 2022 Bill C-208 passed royal assent at the end of June. Since then, there has been some confusion on its application and what the legislation will and will not permit. Canada’s Finance Minister has now confirmed that the bill is federal law, but there are intentions to amend it in November … Read more
Last updated: Jan. 5, 2022 UPDATE: The federal government recently announced a proposal to extend the Canada Recovery Hiring Program to May, 2022. Further information will be made available shortly. The Canada Recovery Hiring Program (CRHP), which was introduced during the federal budget has officially launched. The program provides a subsidy of up to 50 … Read more
Last updated: Jan. 5, 2022 Whether you want to shelter farm income from high personal tax rates due to increased off-farm income, or your profits surplus is beginning to go beyond your personal expenses – you may be asking yourself if your business structure needs a revamp. Back in 2016, an average of 51.71 per … Read more
Last updated: Jan. 5, 2022 Last week, Deputy Prime Minister and Minister of Finance, Chrystia Freeland, delivered the federal budget for 2021. Below are select highlights that may have a positive impact your business or farm: 1. Covid-19 subsidy extensions and program winddowns The good news is that proposed budget will extend the current wage … Read more
Last updated: Jan. 5, 2022 Every farm and small business should resolve to maintain and improve its record keeping disciplines. Virtually every transaction you make can have a significant tax consequence. We regularly see income and deductions that are overlooked. Misreporting income that was previously filed can land you in an unpleasant auditing process. Overlooking … Read more