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Jan 13 2021

Canada Emergency Wage Subsidy – Dec 2020 Update

IMPORTANT CEWS Update The Canada Emergency Wage Subsidy, commonly known as “CEWS” has been a lifeline to many businesses. With payroll being one of the largest costs for Canadian businesses, the federal government introduced this subsidy at the beginning of the COVID-19 Pandemic. As businesses continuing to struggle from the

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Dec 02 2020

Canada Emergency Rent Subsidy

On November 23, 2020, the government has provided details on the new Canada Emergency Rent Subsidy (CERS). This new subsidy program provides relief to qualifying entities who were negatively affected by COVID-19. The CERS covers up to a maximum 65% of eligible expenses if your business has experienced a revenue

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Nov 20 2020

2020 – The Best Tax Loss Selling Opportunity In Years

What is tax loss selling anyway? Tax loss selling is a strategy to reduce tax by triggering capital losses now and using them against capital gains. If you have realized capital gains this year, in any of the past 3 tax years or expect to realize gains in the near

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Oct 20 2020

Canada Government Subsidy News For Businesses

On October 9, 2020, the Canadian government announced its intention to introduce new, targeted supports to help hard-hit businesses cope with the affects of the pandemic. It is hoped that this support will assist businesses navigate through the second wave and end up in a good position for a strong

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Oct 07 2020

5 Ways That Lead to $avings

“Do not save what is left after spending but spend what is left after saving.” – Warren Buffett An interesting quote indeed! It actually makes a lot of sense. Life can be hectic, and when we’re tired and busy it’s easy to make decisions about money far too quickly. However,

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Sep 22 2020

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Canadian Emergency Wage Subsidy (CEWS) – UPDATE

If you still have questions about the Canadian Emergency Wage Subsidy (CEWS) – you’re not alone. We’ve scratched our heads a few times too! For the first sixteen weeks (Periods 1-4), eligible employers that saw a drop of at least 15% of their qualifying revenue qualifying revenue in March 2020 and 30% for

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Sep 15 2020

Wills & Estates – What’s Your Legacy Plan?

It’s been said that nothing is as certain as death and taxes. As CPA’s we might add another certainty – tax implications after your death. However, being aware of the inevitable does not automatically prepare us for the inevitable. Our experience has taught us that the legacy people leave for

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Aug 25 2020

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Retirement Planning – Be Future Ready!

Contrary to popular belief, retirement planning should begin as soon as you start working. However, even if you are middle-aged or older, it’s never too late to start taking control of this important planning. 2020 is a sobering reminder of how unsettling not being prepared can feel. While we cannot

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Aug 19 2020

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HEADS UP – CEWS Eligibility Has Been Expanded!

As we mentioned in our July blog, the Canadian government recently extended the CEWS subsidy program until December 19, 2020. Along with the extension, they have dramatically expanded the eligibility requirement for the subsidy. Employers who have not qualified in the past may now be eligible under the new requirements.

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Jul 29 2020

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Income Tax Payment Deadlines Extended AGAIN!

The New Payment Deadline is now September 30, 2020! The CRA initially extended the payment deadlines for individual, corporate and trust income tax returns to September 1, 2020. The CRA has now extended the payment deadlines once again to September 30, 2020. That means the CRA will waive any late

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Jul 22 2020

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Canadian Emergency Wage Subsidy (CEWS) – Further Extension Announced

The Canadian government has announced an extension to the CEWS subsidy. Eligible employers will now be able to claim this subsidy until December 19, 2020. We thought it appropriate to give you a heads up as they have also announced proposed changes to the CEWS as follows: Starting with the

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Jul 08 2020

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COVID-19 Home Office Expenses – What You Need to Know

COVID-19 has resulted in many learning curves for 2020. For example, some of us are working from home for the first time. So, it’s not surprising that we’ve been asked by many clients if and how they can claim home office expenses. As you would imagine, it’s tricky. Here’s what

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