October 18, 2022

Recent tax updates

The interest rate on overdue taxes for the fourth quarter of 2022 (October 1 – December 31, 2022) has increased by 1% to 7%. Make sure […]
February 11, 2022

WITHDRAWING FROM FAMILY RESPs

Flexible Planning Possibilities A July 21, 2021 Money Sense article (My three kids chose different educational paths. How do I withdraw RESP funds in a way […]
November 9, 2021

WILL AND BENEFICIARY DESIGNATIONS: Are they current?

RRSP designations A May 10, 2021 CBC article demonstrated the importance of reviewing RRSP beneficiary designations. The article discussed the unfortunate cascade of events where, in […]
September 28, 2021

CRA COLLECTIONS: Potential Impact on Business

As some businesses struggle with cash flow, they may be motivated to prioritize suppliers and other creditors ahead of CRA. A recent court case demonstrates CRA’s […]
April 8, 2021

COVID-19 Interest Relief for Personal Taxpayers – But Penalties Still Apply!

Under normal circumstances, CRA will be begin charging compound daily interest starting May 1st, 2021 on unpaid taxes owing for the 2020 tax year. However, due […]
March 17, 2021

Canada Emergency Wage Subsidy “CEWS” more updates…

You need to know how this important subsidy program works for March 14th, 2021 to June 5th, 2021: This is how the revenue declines and the […]
February 11, 2021

Personal Tax Filing Again! What’s NEW!

For many of us, it seems like yesterday that we just filed our 2019 tax returns due to the extended filing and tax payment deadline last […]
November 20, 2020

2020 – The Best Tax Loss Selling Opportunity In Years

What is tax loss selling anyway? Tax loss selling is a strategy to reduce tax by triggering capital losses now and using them against capital gains. […]
September 15, 2020

Wills & Estates – What’s Your Legacy Plan?

It’s been said that nothing is as certain as death and taxes. As CPA’s we might add another certainty – tax implications after your death. However, […]
August 25, 2020

Retirement Planning – Be Future Ready!

Contrary to popular belief, retirement planning should begin as soon as you start working. However, even if you are middle-aged or older, it’s never too late […]
August 19, 2020

HEADS UP – CEWS Eligibility Has Been Expanded!

As we mentioned in our July blog, the Canadian government recently extended the CEWS subsidy program until December 19, 2020. Along with the extension, they have […]
July 29, 2020

Income Tax Payment Deadlines Extended AGAIN!

The New Payment Deadline is now September 30, 2020! The CRA initially extended the payment deadlines for individual, corporate and trust income tax returns to September […]
July 22, 2020

Canadian Emergency Wage Subsidy (CEWS) – Further Extension Announced

The Canadian government has announced an extension to the CEWS subsidy. Eligible employers will now be able to claim this subsidy until December 19, 2020. We […]
July 8, 2020

COVID-19 Home Office Expenses – What You Need to Know

COVID-19 has resulted in many learning curves for 2020. For example, some of us are working from home for the first time. So, it’s not surprising […]
June 16, 2020

The 75% Canadian Emergency Wage Subsidy (CEWS) – EXTENDED to August 29, 2020

As we outlined in our April 9 blog, a Canadian employer whose business has been affected by COVID-19 may be eligible for the Canadian Emergency Wage […]
June 2, 2020

Finding Your Money in Unexpected Places

Most of us are guilty of shoving cash in our pant’s pockets, purses or jackets and then totally forgetting about it. Then, one day we put […]
April 21, 2020

COVID-19 Updates to Important Subsidy Programs

“75%” Canada Emergency Wage Subsidy (CEWS) The Federal government has passed into law the Canada Emergency Wage Subsidy (CEWS) as well as the 10% Temporary Wage […]
April 9, 2020

COVID-19 Support for Canadian Businesses -April 8, 2020 “75%” CEWS Update and More

Canadian Emergency Wage Subsidy (CEWS) On April 1, 2020 the government provided details on the 12-week wage subsidy. The subsidy is 75% of annual employee salary, […]
April 2, 2020

COVID-19 Support for Canadian Businesses

Our understanding of the most important provision of the current relief programs is summarized below.  This information is currently as of April 1, 2020 only. Canadian […]
February 11, 2020

Tax Season – Overcome Stress by Being Perpared!

Yes, it’s tax season – AGAIN. Navigating the sea of life’s daily stresses can be challenging enough. What can help us cope with the added challenge […]
December 9, 2019

Tax Loss Selling – Turn a Loss Into a tax Win!

When it comes to investing let’s face it, you win some, you lose some. While capital gains are always the goal, sometimes selling shares incurs a […]