“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 […]
“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 […]
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 […]
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 […]
Filing and payment deadlines have been extended to September 30, 2020 The Canada Revenue Agency (CRA) announced earlier this year that they would extend payment due dates for 2019 individual […]
Save Money with a Health Plan
How can you save $100’s and maybe $1,000’s in taxes in one simple step? Are you an employee of your own company and do you have significant medical expenses each year of $2,000 or more not covered by a health plan? Then creating a “Private Health Services Plan” (PHSP) as soon as possible could save you big dollars.
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 […]
Here are 8 great tax saving tips: Tax Savings Tip #1: Keep complete records Be diligent about your record keeping to avoid lost receipts that can mean missing out on […]
CPP death benefit The CPP death benefit is a one-time, lump-sum payment to the estate of the deceased contributor. The CPP death benefit can be paid to: The Estate of the […]
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, […]
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 […]
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 […]
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 […]
KWB Chartered Professional Accountants has a proactive plan for continued operation in this new environment. You and our team are our first priority. We want to inform you of what […]
The Canadian Revenue Agency recently made some tax changes that may affect you and your business in 2020. ANNUAL INFLATION ADJUSTMENT Each year, most (but not all) income tax and […]
Here’s a list of some things to avoid when filing your tax return. Follow these tips; they could save you time and money! Filing an income tax and benefit return […]
Based on CRA requirements you should be keeping receipts & records and supporting documents at your place of business or your residence in Canada for a period of six years […]
Do you need to register for GST? Some services are exempt from the GST/HST – that is, no GST/HST applies to them. This means that you do not charge the GST/HST on […]
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 […]
Did you know that if you are receiving CPP benefits, are still working and are between the ages of 65 and 70, you can elect to stop making CPP contributions. […]
If you are starting a new business in Canada or are operating one already, then this article is for you. Types of business structures The type of structure you choose […]
If you have sold your home and it is your principal residence then you should be able to use the principal residence exemption to reduce or eliminate any capital gain […]
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 […]
The new rent subsidy for businesses will bring welcome relief for many of our business clients affected by COVID-19. Canadian businesses, non-profit organizations, or charities who have seen a drop […]
At KWB, we are passionate about QuickBooks Online (QBO) and the apps that integrate with it. We are equally passionate about treating you as a business partner by sharing valuable […]
