New Canada Recovery Hiring Program

wage blocks

Employers who continue to be impacted by the COVID-19 pandemic may be eligible to apply for one of two Canada Revenue Agency (CRA) subsidies to cover part of their employee’s wages. Along with the Canada Emergency Wage Subsidy (CEWS) program, the CRA has launched a new Canada Recovery Hiring Program (CRHP), including an online calculator […]

CRA Offers Interest Relief on COVID Benefits

COVID 19 Mask

The Canada Revenue Agency (CRA) recently announced that they are offering relief on the interest charged on certain COVID benefits. Who is Eligible? You need to check ALL of the following criteria in order to be eligible: Your total 2020 taxable income was $75,000 or less You received at least one of the following COVID-19 […]

Best Practices for Submitting Documents Electronically

We are encouraging you to send us your personal tax information or corporate records electronically.   This guide will assist you through the process while ensuring your data is secure and well managed. File Types:  We can accept pretty much any file types (PDF, jpeg, bmp, tiff, png, etc.) Image Quality:  Obviously, the better the quality, […]

The CRA may owe you money

change and money

Most of us daydream about receiving a surprise notification that we have suddenly received some unexpected money. Although it may not qualify as a windfall, there is a chance that the CRA (Canada Revenue Agency) may owe you some money. There is approximately $1 billion in uncashed refunds from the CRA in Canada.  You may […]

Save Money with a Health Services Plan

How can you save $100’s and maybe $1,000’s in taxes in one simple step with a Private Health Services Plan? Are you an employee of your own company and do you have significant medical and dental expenses each year of $2,000 or more not covered by a health plan?  Then creating a “Private Health Services […]

How the Canada Revenue Agency (CRA) Contacts You

The CRA website was recently a victim of a cyber attack.  In response, the CRA shut down its website and various portals to lower the security risks. As of the August 18, 2020, the CRA has regained their online presence and are opening their portals one by one. The CRA has stated that they will […]

8 Tax Saving Tips

tax

Here are 8 great tax saving tips: Tax Savings Tip #1: Keep complete records Be diligent about your record keeping to avoid lost receipts that can mean missing out on tax deductions.  Keeping electronic copies of scanned receipts can help you stay organized on the go.  KWB recommends using the Receipt Bank (now Dext) app […]

CPP Death Benefit and Survivor Payment

The CPP death benefit is a one-time, lump-sum payment to the estate of the deceased contributor. The CPP death benefit can be paid to: The Estate of the deceased person The person who paid the funeral expenses A surviving spouse or common law partner A next of kin. The Executor is the first person that […]

Breaking News for Small – Medium Size Businesses – 27 March 2020

Ottawa hikes wage subsidy to 75% for small and medium-sized businesses The federal government is hiking its wage subsidy for small and medium-sized businesses from 10 per cent to 75 per cent, a move that business leaders have called for amid the coronavirus outbreak. Prime Minister Justin Trudeau announced the payroll subsidy, as well several additional measures to […]

New Information from the Alberta Government – 25 March 2020

In addition, it is now mandatory for travellers returning from outside of Canada to self-isolate. This legal requirement also applies to close contacts of confirmed COVID-19 cases, as well as to any individual with symptoms, such as a fever, cough, sore throat or runny nose. “We must do everything we can to protect Albertans through […]