The below highlights some of the tax measures proposed by the Green Party of Canada for the 2021 Canadian federal election that will be held on September 20, 2021. The purpose of the below article is to summarize and outline the different tax measures published by the political parties in their election platforms in an impartial manner.

Finance Minister, Chrystia Freeland, provided some welcoming news for small business owners when she tabled the 2021 Federal Budget yesterday. Here are some of the tax measures that small business owners need to know. (We like to note that the current Liberal government is a minority government, and these measures may not receive royal assent.)

Budget 2021 proposes to extend the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Rent Subsidy (CERS) and the Lockdown Support until September 2021. The subsidy rates would gradually decline over the July-to-September period. Budget 2021 also proposes to provide the government with authority to extend these programs until November 20, 2021, should the economic

The budget announced more details regarding the earlier proposed changes to the sales tax regime which would require non-resident vendors to register for HST when they sell digital products or services to Canadian end-consumers. Who does this apply to? Starting on July 1, 2021, the following non-resident vendors are required to register for and collect

Yesterday, the Ontario government announced several measures as part of the 2021 Provincial Budget targeted at businesses, mature students, and families with young children. We like to highlight 6 goodies announced in this budget to kick start the economy post COVID. We want to make sure you know all these measures as they can impact

Recently a client reached out, and we landed on the topic of the $20,000 CEBA extension.  “More free loans? More debt forgiveness?  Sign me up!” This client had wanted monthly touchpoints to ensure he was taking the right steps with his business and initially wasn’t even going to consider asking about whether this extension was

The Canada Emergency Rent Subsidy (“CERS”) helps businesses pay for rent, property taxes, mortgage rent, and insurance for premises used to operate their business. The name of the subsidy is a bit deceiving. It’s more than just a rent subsidy. It also helps business owners who own their property by subsidizing mortgage interest, property taxes

The new rent subsidy would be available retroactive to September 27, 2020, until June 2021. The rent subsidy mirrors CEWS. Unlike the old rent subsidy, the new rent subsidy would provide benefits directly to renters and property owners, without landlords being involved. How Much Subsidy Can I Get? You get a percentage of your Eligible

The government introduced Bill C-9 to introduce updates to CEWS 2.0. The updates are not too substantial. We highlight the 5 key updates you should be aware of. 1. November and December 2020 Base Subsidy Increased to 40% or 0.8 x Revenue Drop Under CEWS 2.0, November 2020 (October 25, 2020 to November 21, 2020)

Today, Julie Payette, the Governor-General of Canada, opened the new session of Parliament with the throne speech. The following is a summary of some of the proposed tax measures that were discussed. Tax Measures Targeted at High-Net worth Individuals The Government proposes to identify additional ways to tax extreme wealth inequality, including by concluding work

CEWS 2.0 Good News for Business Owners Who Pay Themselves a Salary CEWS 2.0 brings welcoming news for owner-managers. Business owners who pay themselves a salary and who didn’t qualify under the old rules may now qualify for CEWS. They can even revisit their CEWS calculation in previous periods (March, April, May, and June) and

Please check out our comprehensive e-learning video where we outline 10 things you need to know about CEWS 2.0 which received Royal Assent on July 27, 2020. CEWS 2.0, which runs from July to December, is more complicated than CEWS 1.0, which covered March, April, May, and June. Yet, there are more opportunities to qualify

On July 17, 2020, the Government of Canada announced significant changes to the Canada Emergency Wage Subsidy (“CEWS”) program. This is good news. The updated rules allow more businesses to qualify, even when revenue decline is less than 30%. Please refer to the examples where we highlight real-life scenarios and show how your business may

The Government of Canada will extend the Canada Emergency Wage Subsidy (CEWS) by an additional 12 weeks to August 29, 2020. Initially, the CEWS was only available until June 6, 2020. What does the CEWS extension mean for my business? As provinces ease restrictions, businesses that are starting to reopen at a smaller scale than