Last updated: Oct. 8, 2021
Last updated August 10, 2020. We will update blog posts when more information is released. As we finished writing the introduction to this blog post, several provinces were starting to recover and re-open their economies. It’s heartwarming to see businesses across the country hiring back their employees through government programs, … Read more
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
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: 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
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
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
Last updated: Aug. 31, 2020 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 … Read more
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