KWB Blog

The latest financial news and accounting tips from KWB.

Feb 10 2021
T4 Reporting

Here’s some of the changes to T4 reporting for 2020 required by the Canada Revenue Agency (CRA). “Other Information” Codes Four new codes have been introduced to the “Other Information” portion of your T4 slip. In addition to reporting employment income, all employers that paid employment income to employees on dates between March 15 and […]

Oct 21 2020
Canada Recovery Caregiving Benefit (CRCB) Explained

“The Canada Recovery Caregiving Benefit (CRCB) gives income support to employed and self-employed individuals who are unable to work because they must care for their child under 12 years old or a family member who needs supervised care. This applies if their school, regular program or facility is closed or unavailable to them due to COVID-19, or […]

Oct 20 2020
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 […]

Oct 17 2020
Temporary Changes to EI (Employment Insurance)

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 EI benefits and leave to find the benefit type that applies to your situation. The following changes could apply to you: A minimum unemployment rate of […]

Oct 2 2020
CERB has ended – What happens now?

The Canada Emergency Response Benefit (CERB) has ended for many participants.  So what happens now?  Transitioning from CERB to Employment Insurance Those who have not yet hit the 28-week maximum will continue receiving their CERB payment until they max out or reach October 3rd. New applicants who now realize they were eligible at any point […]

Jun 17 2020
CERB (Canada Emergency Response Benefit) Extension – June 2020

The federal government announced on the 16th of June 2020 that they will be extending the Canada Emergency Response Benefit (CERB) eligibility period by eight weeks as the coronavirus pandemic continues to affect the job market. The Prime Minister said that those who are still unable to return to work due to the COVID-19 pandemic […]

Apr 3 2020
New Protocol for Applying for the Canada Emergency Response Benefit (CERB) – 3 April 2020

Due to the volume of Canadians applying for the Canada Emergency Response Benefit (CERB), the Canadian Revenue Agency has set new protocol for applying: If you were born in January, February or March, you may apply on Mondays If you were born in April, May or June, you may apply on Tuesdays. If you were […]

Apr 1 2020
NEW information – CERB (Canada Emergency Response Benefit)

CERB (Canada Emergency Response Benefit) Update – 1 April 2020 The Government of Canada will provide a taxable benefit of $2,000 a month for up to 4 months to: workers who must stop working due to COVID19 and do not have access to paid leave or other income support. workers who are sick, quarantined, or […]

Mar 25 2020
Government introduces Canada Emergency Response Benefit to help workers and businesses

March 25, 2020 – Ottawa, Ontario – Department of Finance Canada The Government of Canada is taking strong, immediate and effective action to protect Canadians and the economy from the impacts of the global COVID-19 pandemic. No Canadian should have to choose between protecting their health, putting food on the table, paying for their medication or […]