We put together a collection of articles, tips and business resources to help you with the various accounting questions you face every day. Bookmark this page and check back to read about trends, updates and points of interest regarding financial services.
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The federal government has provided recent updates regarding the Canada Emergency Wage Subsidy (“CEWS”) and other filing requirements for the wage subsidy programs. The Canada Revenue Agency (“CRA”) has also released new guidance on claiming home office expenses for the 2020 taxation year. Introduced in April 2020, the CEWS initially provided a wage subsidy to qualifying employers who experienced a […]
The CEWS program was set to expire in December 2020, however, the program has now been extended to June 2021. The subsidy rate will be fixed at 65%, up to a maximum of $734 per week per eligible employee, through to December 19, 2020 and then decline on a revenue test basis from December 2020 through to June 2021. Harmonizing […]
In response to the continued financial challenges being experienced by Canadian businesses and organizations as a result of the COVID-19 pandemic, the federal government has announced the creation of a new program, the Canada Emergency Rent Subsidy (CERS), as well as enhancements to the existing Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Business Account (CEBA).
The days of the 2008 financial crisis seem far behind. Since then, we have seen tremendous economic growth—low unemployment, appreciating Canadian real estate, stock markets hitting all-time highs. Coupled with low cost of debt, your company’s valuation has skyrocketed in recent years. That is, until COVID-19 arrived and shutdown our economy. The past 3 weeks saw over 7.1 million CERB […]
