Government of Canada to allow up to $400 for home office expenses
2020, Accountants, Blog, Business Owners, taxFor the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.
Applications for Canada Recovery Benefit now open!
2020, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice OwnersThe Canada Recovery Benefit (CRB) is now open for applications.
If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period.
If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.
New Canada Emergency Rent Subsidy | Wage Subsidy extended | CEBA additional $20,000 loan
2020, Blog, Coronavirus, Coronavirus - Practice OwnersGreat news for businesses! The new Canada Emergency Rent Subsidy will be available directly to business owners who need rent relief. The Wage Subsidy has been extended to June 2021. And the CEBA has been expanded to provide up to $20,000 interest-free loan.
CERB transitions to NEW Recovery Benefits and EI
2020, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Coronavirus - StudentsOn August 20th, the Federal Government announced the extension of the Canada Emergency Response Benefit (CERB) by one month and the transition to the Canada Recovery Benefit, Canada Recovery Sickness Benefit, Canada Recovery Caregiving Benefit and a simplified EI.