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News & Updates

Canada Emergency Rent Subsidy Program

Federal Government Canada COVID Update Flag Background

Last updated November 23, 2020. We will update blog posts when more information is released. The federal government has launched a new rent relief program for small businesses impacted by COVID-19. Below is a summary of the proposed program. What is the Canada Emergency Rent Subsidy? The Canada Emergency Rent Subsidy (CERS) program provides rent … Read more

Ontario Budget Report 2020

Ontario Flag Budget Update

The Ontario government unveiled its 2020-21 budget on Nov. 5, 2020, amid a backdrop of the ongoing COVID-19 pandemic and the related economic fallout. Ontario Finance Minister Rod Phillips anticipates a deficit of $38.5 billion for 2020–21 and projects deficits for each of the next two years. The budget contains several tax measures affecting individuals … Read more

Member Update from Steven Ibbotson: This Year is Different

Quiet Highway Blue Tone This Year is Different FBC Member Update

It would be an understatement to say this has been an unusually challenging and difficult year. Those challenges will most likely continue for a while to come. What should you, as a small business owner be doing to weather the storm? Don’t wait for things to return to normal. No matter how frustrated, overwhelmed or … Read more

8 benefits of hiring a professional bookkeeper

a woman uses a calculator while handling her own bookkeeping

As a small business owner, you need accurate and up-to-date financial information so you can make the best decisions for your business. As your business grows and you hire employees, or take on more customers, keeping track of your business expenses and ensuring your books are accurate becomes more complex and time-consuming. It’s a lot … Read more

Back to Work in Manitoba Wage Subsidy Program

Manitoba Government Canada COVID Update Flag Background

UPDATE: THIS PROGRAM IS NOW CLOSED. The Manitoba government is expanding its back-to-work subsidy program to encourage employers to bring back their employees or take on new hires. Private businesses and non-profits can now receive up to $100,000 to subsidize 20 employees hired since July 16 through the Back to Work in Manitoba Wage Subsidy … Read more

Capital Cost Allowance for Farmers

a farmer smiles while standing in front of his silos

If you need to buy a major capital asset like a building, machinery or equipment to use in your farming business, consider buying it before the end of your fiscal year to claim tax depreciation, or capital cost allowance (CCA), to reduce your income on your tax return. What is capital cost allowance? Farm owners … Read more

Re-Open Saskatchewan Training Subsidy

Saskatchewan Government Canada COVID Update Flag Background

The Government of Saskatchewan has launched a temporary training subsidy for employers that will cover 100% of training costs for their employees. The Re-Open Saskatchewan Training Subsidy (RSTS) program supports employers with training employees to adapt to new health and safety requirements like social distancing. The maximum amount the subsidy covers is $10,000. Approved employers … Read more

Why you need a year-end tax plan

a farmer leans against a tractor

In our last few articles we’ve highlighted elevated government spending programs and the inevitable increase in the accumulated debt to alleviate the worst economic impacts brought on by the COVID-19 pandemic. Both current and former senior civil servants, economists and at least one former prime minister are all predicting that while these spending programs have … Read more

New COVID Recovery Benefits Announced

Federal Government Canada COVID Update Flag Background

Last updated Dec. 9, 2020. We will update blog posts when more information is released. The federal government has now closed the CERB Program. To support Canadians who are transitioning from CERB and still need help, they’ve announced temporary changes to the Employment Insurance (EI) program and introduced three new benefits. “As we safely restart … Read more