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Tag: covid-19

covid-19

Online individual income tax return filing in Toronto
COVID-19

How to Stay Safe this Tax Season

Tax season is in full swing! Millions of Canadians and Residents are looking to file their taxes. Traditionally, taxpayers with simple tax situations tend to visit drop-off locations of various tax service providers. With Covid-19,

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When to include forgivable portion of ceba loan
Corporate Tax - Canada

Forgivable Portion of CEBA and Income Inclusion

Many businesses in Canada have taken advantage of Canada Emergency Business Account (CEBA). The initial program offered $40,000 with 1/4 i.e. $10,000 is forgivable if certain conditions are met. Later on, the program expanded and

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Alternatives to CEBA in Canada
COVID-19

5 Alternatives to CEBA

Canada Emergency Business Account (aka CEBA) has been the most talked-about government support program for small businesses. Since its launch, it has helped many small businesses with the liquidity pressures faced during the pandemic. Many

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Information returns by employers T4 filing service toronto
Corporate Tax - Canada

CEWS Audits by CRA – Just landed

Canada Emergency Wage Subsidy (CEWS) has been providing significant support to Canadian jobs by covering 75% of employee’s wages (sometimes up to 85%, see new CEWS rules). A total of $35.31 billion has been paid

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T4 additional reporting requirements for 2020
Corporate Tax - Canada

Additional T4 Reporting Requirements for 2020

The Canada Revenue Agency (CRA) has introduced additional reporting requirements for T4 Information returns of 2020. The purpose of these additional requirements is to validate the benefit payments to Canada Emergency Response Benefit (CERB), Canada

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