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Coming in at 724 pages, the 2021 Federal Budget was tabled on April 19, 2021. Check out our 14 page summary covering the highlights of the day. Click on the image below to download:

If you currently have an engagement for Notice to Reader/Compilation financial statements, this update is specifically for you. You can quickly identify if your year-end financial statements fall into this category by reading the title page of your latest financial statements. If you see the words “Unaudited – See Notice to Reader,” please keep reading. …

Canadian Standard on Related Services 4200 (CSRS 4200) Read More »

HASCAP loans are intended for small and medium-sized businesses that have seen their revenue decrease by 50% or more due to COVID-19 and its restrictions. Loans will carry a 4% interest rate Repayment term of up to 10 years Up to a 12-month postponement of principal payments at the start of the loans The guaranteed …

Highly Affected Sectors Credit Availability Program (HASCAP) Read More »

Manitoba PST Extension Businesses with PST remittance of no more than $10,000 per month are eligible for an interest and penalty-free payment deferral to June 30, 2021. January, February, March, April, and May 2021’s returns are all eligible for the payment deferral. March quarterly PST return also qualifies for the June 30, 2021 payment deferral. …

Extensions from Manitoba Finance Read More »

The new year starts with an exciting announcement for Craig & Ross, as we celebrate the admission of three new Partners to the Partnership. Our new Partners have distinguished themselves through their ability to inspire those around them. Their hard work and commitment to quality is shown by the impact they have made on our …

Firm Announcement: Welcoming Three New Partners Read More »

For 2020 T4 reporting, the CRA has introduced updated reporting requirements for T4 slips. The new requirements include new boxes for reporting employment income and retroactive payments in the following periods: Code 57: Employment income – March 15 to May 9 Code 58: Employment income – May 10 to July 4 Code 59: Employment income …

New T4 Reporting Requirements for 2020 Read More »

Who Must File Form PD27? If you are eligible to claim the Temporary Wage Subsidy (TWS), you may need to complete ‘Form PD27 – 10% Temporary Wage Subsidy Self-identification Form for Employers’ even if the subsidy was not used. PD27 will be used by CRA to reconcile the TWS on your payroll accounts. If more …

The Temporary Wage Subsidy and Form PD27 Read More »

Check out our Q1 2021 edition of Tax Tips and Traps. Click on the image below to download:

On January 12, 2021, the Province announced an expansion and deadline extension to the Manitoba Bridge Grant. Certain sectors that were previously ineligible because they were not required to close under the November health orders are now specifically made eligible under the expanded program. Additionally, the maximum amount available under the grant has been increased …

Expansion and Extension of the Manitoba Bridge Grant Read More »

The City of Winnipeg is offering a $1,500 grant to local businesses and not-for-profit organizations that were required to prohibit access to their premises as a result of public health orders. The first round of applications are open until February 28, 2021, on a first come, first serve basis. Do I Qualify? To qualify for …

Winnipeg Economic Support Grant Read More »