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We would like to thank all our clients for your continued support and patience through these unprecedented times.  Please note that our office will be closed from Jul 1-12 to give our staff a well-deserved break.  We will reopen for regular business hours on Tuesday, July 13.   

Both the CEWS (wage subsidy) and CERS (rent subsidy) applications are due 180 days after the end of the qualifying period. The chart below summarizes the upcoming deadlines for the various periods currently announced: CEWS/CERS Period Period Date Deadline For Application 10/3 Nov. 22 to Dec. 19, 2020 Jun. 17, 2021 11/4 Dec. 20, 2020

Check out our Q2 2021 edition of Tax Tips and Traps. Click on the image below to download:

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.

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

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.

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

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

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