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Updates for COVID-19

Your Guide to Supporting Remote Employees

Last updated: Oct. 8, 2021 
Originally published April 21, 2020 When the COVID-19 outbreak was declared a global pandemic and Canadians were encouraged to stay home, Evans Hunt, a Calgary-based digital marketing agency with clients across the country and around the world, was ready to transition to a remote workforce without any significant hiccups. Allard Losier, director … Read more

Maintaining cash flow during times of crisis

Last updated: Oct. 8, 2021 
Originally published April 16, 2020 By Jennifer Friesen As the world grapples with the ongoing COVID-19 pandemic, people are adjusting to changes in their routines daily – and small business owners are no different. Maintaining cash flow is particularly difficult when transportation routes are disrupted and customers are staying at … Read more

How to Get Paid During a Pandemic

Last updated: Oct. 8, 2021 
Originally published April 23, 2020 It’s hard enough to manage receivables normally. What about when everyone is struggling? Timely invoicing has always been a critical part of running a business, but with COVID-19 wreaking havoc on company cash flows, getting paid sooner than later could be the difference between staying … Read more

COVID-19: Key Strategies to Protect Start-Ups

Last updated: Oct. 8, 2021 
Originally published April 9, 2020 As part of our commitment to helping you stay informed about the Covid-19 support programs available from the federal and provincial governments, we will also curate and share content that provides additional insights, perspectives and opinions from some of our business partners and other sources from … Read more

Member Update from Steven Ibbotson: This Year is Different

Image of Highway and Mountains with FBC Logo

Last updated: Oct. 8, 2021 
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 … Read more

2020 Fall Economic Update

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Last updated: Oct. 8, 2021 
The following is archived material.  Refer to the federal government for more information. This week Finance Minister Chrystia Freeland unveiled the federal government’s fall economic update. The government presented a three-year stimulus package, which they say will “provide the fiscal support the Canadian economy needs to operate at its full capacity … Read more

Tax implications of COVID-19 programs

Business Owner at Laptop Tax Implications of Covid-19 Government Programs

Last updated: Oct. 8, 2021 
Last updated Feb. 16, 2021. We will update blog posts when more information is released. Did your business take advantage of federal COVID-19 programs in 2020? If so, questions are likely racing through your mind about the tax implications of receiving benefits from the various programs. What do you need to … Read more

New T4 reporting requirements for the 2020 tax year

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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

CRA simplifies deducting home office expenses

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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