Covid-19 July 20, 2020 Update
It has been a couple of months since my last update. There were some major developments (CEWS expansion) last week in government programs announced that I wanted to bring to your attention. If you are a business, whether effected by... Read More →
Covid-19 April 27th Update
There have been a number of changes and announcements related to various government programs. Some of this email is repetitive but I do want to draw your attention to three items: Increased eligibility to the Canada Emergency Response Benefit (CERB)... Read More →
Covid-19 Update April 13, 2020
It has been 11 days since my last update and a number of items have changed or been implemented by the federal government. I will not repeat the various change in due dates or payment dates. If you have questions... Read More →
Covid-19 Update April 2, 2020
It has been a little over a week since my last email. I hope you find this information useful. Changes related to income tax, government supports and dues dates are changing almost by the hour. I have broken this email... Read More →
Covid-19 Update March 24, 2020
Yesterday the Province of Ontario announced the closure of all non-essential business effective midnight today. The list can be found here: https://news.ontario.ca/opo/en/2020/3/list-of-essential-workplaces.html Many of our clients are included on this list and some are not and must close any physical... Read More →
Covid-19 Update – March 19, 2020
Yesterday the Government of Canada announced a number of significant changes to personal and business taxation and support to individuals and businesses. This is quick summary. Details are not know in some cases. I will break this down into Filing... Read More →
Covid-19 Update – March 18, 2020
The global spread of COVID-19 is affecting every one of us. The situation is evolving hourly. Slowing the spread of the virus requires all of our care, and all of our participation. Today, government and medical advisors are asking all... Read More →
Child Fitness and Arts Credits
The recent Federal budget has reduced the fitness credit in half to $500 per child for 2016 and zero for 2017. The arts credit is similarly reduced to $250 for 2016 and zero for 2017. The negative of this is that... Read More →
Deducting Interest
Deducting Interest: When Can it be Done? In Canada, interest expense on money borrowed to produce income from a business, investments or property is deductible against all sources of income. However, interest paid on money borrowed for personal consumption, home... Read More →
Income Splitting
Income Splitting: 10 Ways to Reduce Your Taxes Canada has a progressive tax system. This means that as your income grows your pay a larger share to governments. Income spitting is one way that you can reduce your total family... Read More →