Real estate agents would typically be operating as a “sole proprietor”, meaning all commission income earned would be reported on their personal tax returns, subject to their marginal tax brackets.  Due to some legislative changes that occurred this year, a real estate agent now has the ability to incorporate their proprietorship on or after October…

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On Friday October 9, 2020, the government announced expansions of the three flagship business support programs being used to provide assistance during COVID-19.  Significant changes are being made to the following programs: Canada Emergency Wage Subsidy (CEWS) Canada Emergency Commercial Rent Assistance (CECRA), to be replaced with Canada Emergency Rent Subsidy (CERS) Canada Emergency Business…

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We are contacting you today to provide an update and general overview of the Canada Emergency Response Benefit (CERB). The CERB was introduced in March to assist those individuals who had ceased working in relation to COVID-19, by providing eligible individuals with a $2,000 payment for each of the prescribed four-week periods.  As a quick recap…

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The purpose of this communication is to provide you with the most recent update in relation to the 75% Canada Emergency Wage Subsidy (CEWS).  This subsidy provides employers who have experienced a significant loss of revenue or cash flow to claim a wage subsidy of up to 75% of eligible wages.  You can read our previous bulletin…

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In March, the federal government announced the creation of the Canada Emergency Business Account (CEBA) to support businesses impacted by COVID-19. You can view our previous CEBA releases here. In brief, eligible business could receive a loan of up to $40,000 from their financial institution on which interest will not be charged until December 31, 2022,…

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Payment deadlines As a result of the COVID-19 pandemic, the majority of payments due to the government on or after March 18, 2020 have been deferred until September 1, 2020.  In addition, for individuals and trusts late filing penalties and interest have been put on hold, and will not be charged provided returns are filed and…

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