Canada Recovery Sickness Benefit (CRSB) Explained
“The Canada Recovery Sickness Benefit (CRSB) gives income support to employed and self-employed individuals who are unable to work because they are sick or need to self-isolate due to COVID-19, or have an underlying health condition that puts them at greater risk of getting COVID-19. The CRSB is administered by the Canada Revenue Agency (CRA). If you […]
Emergency Checklist
Be prepared for any emergency that may occur by creating an Emergency Checklist. While this may have come in handy prior to the pandemic, there is still value in creating one now. What you need for your Emergency Checklist For starters, your emergency checklist should be outlined in your procedures manual, which documents every routine task […]
Canada Emergency Commercial Rent Assistance (CECRA)
The Canada Emergency Commercial Rent Assistance Program (CECRA) has been announced to provide rent relief for small businesses struggling to pay their landlords due to financial hardship as a result of COVID-19 for the months of April, May and June 2020. Who is Eligible? Affected small business tenants who meet the following criteria: Pay less […]
Essential Services – Is your Business on the List?
Overview The businesses and services on the essential services list can continue to provide services at locations accessible to the public and must have proper risk mitigation measures in place, such as sanitation stations and appropriate distancing between customers. The intent of this list is to provide general guidance to business owners and operators. It […]
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 […]
Who qualifies for EI?
Whether you qualify for EI will still depend on your specific situation, such as regional rate of employment, and the number of hours worked in the last 52 weeks. The government recommends people apply as soon as possible to find out if they qualify; waiting more than four weeks after your last day of work means you could lose […]
CPP Rate
Beginning in 2019, the CPP rate will be gradually enhanced. This means you will receive higher benefits in exchange for making higher contributions. The Canada Pension Plan (CPP) enhancement will be rolled out in two phases. The 2018 CPP rate was 4.95% of your salary to a maximum yearly CPP contribution of $2,564.10. Your employer […]
Personal Services Business (PSB)
Updated November 2022 Are you a Personal Services Business (PSB)? We often hear about individuals who decide to incorporate while working as an employee for a business. But is it really beneficial to do so? Let’s look at an example. Joe works as an employee and earns employment income (a T4 slip) in Alberta. On […]
GST Quick Method
The GST Quick Method is available to smaller businesses and is easier, quicker and saves money as compared to the normal method of GST filing. And since all GST registrants must file GST on either an annual, quarterly or monthly basis it can save a lot of time as well as money. Effective for reporting periods […]
Alberta Labour Standards for 2018
It has been 29 years since Alberta Labour Standards were last reviewed and changed. The changes effective in 2018 are as follows: Minimum Wage The minimum wage has already been increased in recent years and is going to have one more increase to $15.00 per hour. This increase comes into effect on October 1, 2018. Deductions […]