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The Minister of Finance and Deputy Prime Minister Chrystia Freeland delivered the 2020 Fall Economic Statement November 30, 2020. Here are the highlights that could directly affect you and your business (paraphrased from Video Tax News – 2020 Fall Economic Statement): DEFICIT: The 2020 projected federal deficit is currently $381B. RATE CHANGES: There were no […]

On December 8, 2020, Premier Brian Pallister announced two changes to the Manitoba Bridge Grant Program: 1. Stream B – Home-Based Business Support The Manitoba government announced a second stream of the Grant targeted to home-based businesses that were previously ineligible. This will include business’ such as event planners, photographers, artists, tradespeople etc. Do I

Check out our 2020 year-end tax planning edition of Tax Tips and Traps. Click on the image below to download:

In the current pandemic environment, there is often instability for both employees and self-employed individuals. In addition to the enhanced EI program, the Canadian government is currently offering the following benefits: Canada Recovery Caregiving Benefit (CRCB) If you are eligible for the CRCB, your household can receive $500 ($450 after taxes withheld) for each 1-week

For those who have already been approved and are seeking the 20K expansion Anyone who already has a $40,000 CEBA loan may be eligible to apply for the $20,000 expansion. If you already repaid part of your original loan you can still apply for the expansion. As of today’s date (December 9th, 2020) some banks

The CERS program will provide financial support to qualifying businesses, charities and non-profit organizations affected by the Covid-19 pandemic through a subsidy that is provided directly to tenants and property owners.  This is a significant change from the previous rent assistance program, which was paid directly to landlords and passed on to tenants. The subsidy

The Manitoba Bridge Grant provides a $5,000 taxable grant to eligible Manitoba businesses and organizations that are required to fully close their premises to the public as a result of the Manitoba Covid-19 protection orders put into effect as of November 12, 2020.  Companies that were forced to seek alternative ways to provide goods and

The Back to Work Manitoba Wage Subsidy initiative is a hiring program designed to support Manitoba’s economic recovery by encouraging Manitoba employers to bring back their employees or take on new hires. Eligible employers can receive a reimbursement of 50% of total wages paid between July 16 and December 31st, 2020 for employees hired on

Small businesses may apply for grants of up to $5,000 to cover the costs of personal protective equipment, make physical modifications to their businesses to meet local health and safety requirements, and enhance their digital or e-commerce capabilities. Small businesses nation-wide can apply online through the Ontario Chamber of Commerce. Applications are open to small

Check out our Q4 2020 edition of Tax Tips and Traps. Click on the image below to download: