What Alberta Budget 2021 means for your small business
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.
Small Business Taxes
2021 Business Tax Filing Deadlines [Infographic]
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
Calculating Taxes when Day Trading in Canada
Last updated: Mar. 16, 2021
Reporting online day trading income? A growing number of Canadians manage their own retirement portfolio and trade online every day. When you sell a security and make a profit, you realize a capital gain. For most Canadians, the taxable capital gain is determined by multiplying the capital gain amount (profit) … Read more
Canada Emergency Rent Subsidy Program
Last updated: Mar. 11, 2021 The federal government has launched a new rent relief program for small businesses impacted by COVID-19. Below is a summary of the program. What is the Canada Emergency Rent Subsidy? The Canada Emergency Rent Subsidy (CERS) program provides rent and mortgage support to qualifying businesses, charities and non-profits. The subsidy … Read more
CRA shuts down online services after cyberattacks
Last updated: Feb. 3, 2021 The CRA has temporarily shut down its online services after thousands of accounts were compromised by cyberattacks. The attacks targeted the CRA and GCKEY, an online portal where Canadians can access services such as employment insurance and veterans’ benefits. The Canadian government says the attacks were a form of “credential … Read more
FBC Member Spotlight: Canada’s Grocery Store and More
Last updated: Nov. 25, 2020 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 … Read more
8 benefits of hiring a professional bookkeeper
Last updated: Sep. 28, 2020 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 … Read more
Potential tax implications of COVID-19 spending
Last updated: Aug. 7, 2020 Former governor of the Bank of Canada David Dodge, writing on behalf of the C.D. Howe Institute while referring to the government’s financial response to COVID-19, said the right decisions were probably made at the time. However, the report also stated that the government must implement a plan to “restore … Read more
Work-space-in-the-home expenses for remote employees
Last updated: Jul. 30, 2020 Hundreds of thousands of Canadians transitioned to working from home when the COVID-19 outbreak was declared a pandemic. If you’re one of them, you know that working from home comes with its own costs (heating, electricity, maintenance). As a small business owner, you can deduct expenses for the business use … Read more