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As of September 27, 2020, there are some temporary changes to the EI program to help you access EI benefits. These changes will be in effect for 1 year. Go […]

To our friends, clients, and business partners, We hope this newsletter finds you well and healthy. The volume of information we’ve received from provincial and federal governments over the last […]

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, […]

Description of the Business Credit Availability Program (BCAP):  On March 13, 2020, the Government announced the establishment of a Business Credit Availability Program (BCAP) to help Canadian businesses obtain financing during […]

Prime Minister Justin Trudeau announced today businesses and non-profit organizations seeing a drop of at least 30 per cent in revenue due to COVID-19 will qualify for the government’s 75 […]

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 […]

Dear valued KWB clients and business partners, Our office remains open and functional during this time, however, we no longer have reception coverage until further notice.  Please take note of […]

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 […]

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 […]

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 […]

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 […]

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 […]

The Alberta government will provide immediate funding and supportive measures to support local businesses, employers and employees. Support for employers Corporate income tax changes Corporate income tax balances and instalment […]

The Prime Minister and the Minister of Finance announced on March 18th an economic relief package to begin addressing the economic impacts of the COVID-19 pandemic. Part of the economic […]

Small and medium-sized businesses are the backbone of the Canadian economy. During this extraordinary time, the Government of Canada is taking strong action to help Canadian businesses as COVID-19 is […]

What is director’s liability? While the tax debts of a corporation belong to the corporation and the tax debts of an individual belong to that individual, there are some exceptions […]

We have all been told to plan for our retirement.  Yet, have you ever wondered why you need to consider the different retirement planning alternatives? Perhaps you have a plan, […]

Are you paying too much in taxes? Are you getting all the tax deductions available for your business? An effective way to minimize your company’s tax expense, in addition to good […]

Every year CRA conducts reviews and audits to sample and educate tax payers on tax compliance, and 2016 will be no different. CRA estimates that approximately 30,000 letters will be […]

The 2015 federal budget announced the introduction of a new Home Accessibility Tax Credit (HATC), beginning in 2016. The HATC is a non-refundable tax credit for qualifying expenses incurred for […]

Do you own a business - either incorporated or unincorporated - and have a spouse or one or more adult children with an income lower than your own? If so, you may be able to shift your income to these other family members, effectively moving the income from a high tax rate to a low tax rate and decreasing the overall tax burden on your family. This is called income splitting.

You can start receiving CPP pension benefits when you reach age 65 (the month after your 65th birthday) which will entitle you to a full CPP benefit depending on how […]

In addition to personal income tax increases, the Alberta NDP government has also increased general corporate tax rates. However, businesses that earn $500,000 or less of active business income will […]

Often deductible business expenses are overlooked or missed as business owners are unsure whether they are deductible. A business expense is any cost incurred by the company to generate income. […]

There are no immediate repercussions for the change in business use of property from capital to inventory. The differences arise upon sale of the real estate. There is no provision […]