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Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

December 7, 2020blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, corporate, disability, financial planning, RDSP, Tax

Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:

• Corporate Tax Changes, including extensions to subsidy programs.

• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.

• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.

For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.

Canada Emergency Wage Subsidy expanded to include more businesses!

July 17, 2020blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporate

On July 17th, Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that will expand the number of businesses that qualify for the program.

Canada Emergency Wage Subsidy extended into December!

July 13, 2020blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporate

On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.

CERB Extended | Business Owners who did not qualify previously – expanded CEBA starts June 19th

June 17, 20202020 Only, blog, Business Owners, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, Individuals

Great news for Canadians out of work and looking for work. The CERB will be extended another 8 weeks for a total of up to 24 weeks.

The expanded CEBA will begin June 19th.

The Need for Corporate Life Insurance

June 1, 2020blog, Business Owners, buy sell, corporate, Estate Planning, Life Insurance

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.

Small Businesses! Applications for Canada Emergency Commercial Rent Assistance starts May 25th

May 24, 20202020 Only, blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporate

The Application portal for the Canada Emergency Commercial Rent Assistance (CECRA) opens at 8:00am EST on May 25th

Does your Business Qualify for the Small Business Gains Exemption?

June 1, 2019blog, Business Owners, corporate, Life Insurance, Tax

As a business owner, you may be aware that when you dispose of shares in your business you could receive an exemption on all or a portion of the capital gains that ordinarily would be taxable. This is due to the Lifetime Capital Gains Exemption which says that, for 2019, up to $866,9121 of capital gains is exempt from taxation.

The Need for Corporate Life Insurance

May 1, 2019blog, Business Owners, corporate, Estate Planning, Life Insurance

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.

Ontario Budget 2018

April 3, 2018blog, Business Owners, corporate, dental benefits, Estate Planning, Family, group benefits, Individuals, Investment, Retirees, Tax

The 2018 Ontario budget features a number of new measures and billions of dollars of enhanced spending across the spectrum, as announced by the province’s Finance Minister, Charles Sousa. Read on for some of the key proposals.

2018 Federal Budget Highlights for Business

March 4, 2018blog, Business Owners, corporate, Investment, Tax

The government’s 2018 federal budget focuses on a number of tax tightening measures for business owners. It introduces a new regime for holding passive investments inside a Canadian Controlled Private Corporation (CCPC). (Previously proposed in July 2017.)

Category: corporate

Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

Canada Emergency Wage Subsidy expanded to include more businesses!

Canada Emergency Wage Subsidy extended into December!

CERB Extended | Business Owners who did not qualify previously – expanded CEBA starts June 19th

The Need for Corporate Life Insurance

Small Businesses! Applications for Canada Emergency Commercial Rent Assistance starts May 25th

Does your Business Qualify for the Small Business Gains Exemption?

The Need for Corporate Life Insurance

Ontario Budget 2018

2018 Federal Budget Highlights for Business

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