The Canada Revenue Agency (CRA) recently announced that they are offering relief on the interest charged on certain COVID benefits.  Who is Eligible? You need to check ALL of the following criteria in order to be eligible: Your total 2020 taxable income was $75,000 or lessYou received at least one of the

On June 30, 2015, the Alberta government passed Bill 2, An Act to Restore Fairness to Public Revenues. The bill has created a progressive personal income tax rate structure for higher income earners. Effective for 2015 and subsequent tax years, four new tax brackets and rates will be introduced: Taxable income of $125,000 to

On October, 19, 2015, Canadians voted in new Liberal party Prime Minister, Justin Trudeau. During the course of the election campaign, the party announced they would make certain changes related to income tax rate calculations. Although it is unclear when these changes will be enacted, they could be introduced soon after the new government takes

What do accountants do for fun??? Well we grab some horse ankle bones and throw them at each other… The game is Bunnock Okay, well, maybe not “at” each other.  I know that sounds a little aggressive but actually it is quite the opposite.  The game is called Bunnock (go look it up

At KWB we believe that family is important which is what we emphasized when we recently had our annual Christmas celebration. We decided to do things a little differently this year and we involved the children and grandchildren of our staff in a party where we spent the day enjoying Edmonton’s history at Fort Edmonton

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

Being audited is a difficult experience that can be both scary and costly. When being audited the professional and legal fees can amount to thousands of dollars quickly, so we found a way for you to insure against those unexpected professional fees by offering an audit insurance product called Audit Shield. With Audit Shield, claims

With the current situation in Alberta there are many unknowns regarding the proper payroll treatment related to leaves and layoffs.  This could change daily however this is the information that we were provided by the Canadian Payroll Association on March 17, 2020. Sick Leave - Alberta On Friday, March 13, 2020 the Alberta

As a business owner, you have likely experienced stress and anxiety during the past year.  In order to run your business successfully, you need to ensure that your health and wellness takes priority in your life. When you travel on a plane, the announcer tells you that in case of an emergency, you

The CRA website was recently a victim of a cyber attack.  In response, the CRA shut down its website and various portals to lower the security risks. As of the August 18, 2020, the CRA has regained their online presence and are opening their portals one by one. The CRA has stated that

A T2200 form is typically only filed with the Canada Revenue Agency (CRA) when an employee’s work situation requires them to pay for work-related expenses, or when an employee can, within reason, expect to claim work-related expenses as deductions on their tax return. As a result of the COVID-19 pandemic many people are working

This past year we have been asked many questions about completing a Record of Employment (ROE) form.  Here are helpful answers to the most common of those questions based on information from the Canadian Payroll Association: Q:  If an employee’s hours are reduced, is that considered an interruption of earnings? A: