Last updated: Oct. 8, 2021
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 – … Read more
Last updated: Oct. 8, 2021
Millions of Canadians transitioned to working from home in 2020. Many found themselves cranking up the heat in a drafty house, or using their personal cellphone to make work calls, or picking up supplies for the basement/kitchen table/closet that now functions as their office. To help offset these costs, they are eligible to deduct home office expenses on their 2020 personal tax returns. That might … Read more
Last updated: Oct. 8, 2021
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 … Read more
Last week Alberta Finance Minister Travis Toews presented the province’s fiscal 2021-22 budget. Here’s a summary of the highlights for your small business.
Last updated: Oct. 8, 2021
Last year was different. The federal government extended the business tax filing and payment deadlines. It doesn’t look like the CRA will extend the business tax filing deadlines again this year. In fact, they’re urging you to file earlier than usual. Especially if you signed up for any COVID-19 programs for your … Read more
Last updated: Oct. 8, 2021
Good news from Ottawa: the government will provide interest relief for people who accessed COVID-19 programs last year. Anything to make your life a little less taxing right now is a win. We’ve summarized the news below and other recent COVID-19-related updates that could help you and your business. For up-to-date … Read more
Last updated: Oct. 8, 2021
Last week New Brunswick Finance Minister Ernie Steeves presented the province’s fiscal 2021–22 budget. We’re not seeing any surprises in this budget. Like other provinces, the New Brunswick government is increasing spending on COVID-19 measures. Steeves predicts a projected deficit of $244.8 million for 2021-2022 to “to address the pressures that … Read more
Last updated: Oct. 8, 2021
Last week Ontario Finance Minister Peter Bethlenfalvy presented the province’s fiscal 2021–22 budget. The Ontario budget falls in line with what we’re seeing from other provincial budgets: more spending on health care, but otherwise a relatively quiet budget from a tax perspective. We’re happy to report the personal tax rate and … Read more
Last updated: Oct. 8, 2021
On March 25, 2021, Nova Scotia Finance Minister Labi Kousoulis presented the province’s fiscal 2021-22 budget. No surprises here – Nova Scotia is spending more on health care like other provinces. On the business side, they announced property tax relief for small business owners and the extension of the Equity Tax … Read more