The latest financial news and accounting tips from KWB.
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 […]
CEWS Update – July 2020
On July 17, 2020, the Government of Canada announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) to allow greater access to the program by employers. While the proposed changes loosen eligibility requirements, there is added complexity, most significantly on how benefits are calculated for qualifying periods beginning after July 4, 2020. The New […]
KWB’s Wage Subsidy Assessment and Application
A rapid response plan for your business Applications for CEWS (Canada Emergency Wage Subsidy) will start being received by the government as of Monday, 27 April 2020. While businesses may qualify for benefits under CEWS, understanding the program, determining eligibility, and submitting the proper application can create a high level of stress and uncertainty. You […]
The Canada Emergency Wage Subsidy – What It Means for Canadian Businesses – 2 April, 2020
To help businesses keep and return workers to their payroll through the challenges posed by the COVID-19 pandemic, the Prime Minister, Justin Trudeau, proposed the new Canada Emergency Wage Subsidy. This would provide a 75-per-cent wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020. This wage subsidy aims to […]