Tax Tips

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

In this article, we show strategies businesses can take by rearranging work schedules to allow their employees to apply for the Canada Emergency Response Benefit (“CERB”) while running a scaled-down operation. CERB Eligibility To qualify for CERB, the worker applying must meet two tests: First Test The worker applying must be: Second Test In addition