Canada Revenue Agency Audits to Resume in September | How to Prepare

Beginning in March 2020, many audits performed by the Canada Revenue Agency (CRA) were paused or suspended as our government adapted to the COVID-19 pandemic and focused energies on supporting Canadians through economic uncertainty. In July 2021, auditors began to communicate that work on these files would resume in September this year. If the audit […]

Controller Services for Busy Business Owners

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Consistently monitoring your cash flow to fully understand how money moves in and out of your business can be a time consuming job, but it is an important aspect of managing your business effectively. In order to make the best decisions for the growth and potential of your business, you must first have good information […]

Update – The Canada 75 % Wage Subsidy

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Finance Minister, Bill Morneau, announced today (April 1st, 2020) that the 75 % wage subsidy would be available within 3-6 weeks time. What we know so far: The subsidy is available to all businesses, charities and non-profit organizations as long as they can prove that they have lost 30 % of their revenue due to COVID-19. […]

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 […]

Support for entrepreneurs impacted by the coronavirus COVID-19

As announced by the Minister of Finance, BDC puts in place additional measures to provide relief for Canadian entrepreneurs. Effective March 18, 2020, new relief measures for qualified businesses include: Working capital loans of up to $2 million with flexible repayment terms such as principal postponements for qualifying businesses; Flexible repayment terms, such as postponement of principal payments for up to […]

Support for Employers – New Supports Announced 23/03/2020

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Corporate income tax changes Corporate income tax balances and instalment payments will be deferred from March 19 until August 31, 2020 to increase employers’ access to cash so they can pay employees, address debts and continue operations. Education property tax deferral Education property tax rates will be frozen at last year’s level – reversing the […]

Frequently Asked Questions – Temporary Wage Subsidy for Employers

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1. What is the Temporary Wage Subsidy for Employers? The Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). 2. Which employers are eligible? You are an eligible employer if you: are a […]

Relief for the Energy Sector

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Immediate action will protect jobs and provide economic relief to the oil and gas industry Overview The Government is providing economic relief to Alberta’s energy industry to address challenges resulting from the COVID-19 pandemic and declining oil prices due to an international price war. The energy sector supports more than 500,000 jobs across Canada Initiatives […]

Support for Albertans – COVID-19

The Alberta government will provide immediate financial relief to Alberta’s families and vulnerable populations. Albertans should be focused on their health and not worry about whether they can pay their bills so we have put a number of options in place for those struggling financially. Emergency isolation support This will be a temporary program for […]