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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. […]

The below highlights some of the tax measures proposed by the Conservative 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

Imagine yourself as an owner of Stephanie’s Electric, a company specializing in electrician services. Stephanie’s Electric started off small but is now an established company in the community. From the beginning, you taught your children the ways of Stephanie’s Electric, and they have managed to become really good at it. You’re now ready for retirement and to pass the business along to them. However, you weigh your options and realize you will pay less

U.S. President Joe Biden released his 2022 budget submission to Congress. The budget contains several tax proposals aimed at increasing taxes and compliance. The budget would still need to be voted on in Congress in order to be enacted. However, given the Democrat control of both the Senate and the House, there is a strong

Introduction There are instances when you have to repay the COVID‑19 benefits you received (i.e., CERB, CRB, CESB, etc.). You are taxed on these benefits in the year you receive them. You can deduct repayments. Before Budget 2021, you were only able to deduct repayments in the year you repay them. This resulted in people

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