The latest financial news and accounting tips from KWB.
Tax Due on COVID-19 Government Assistance Programs for Individuals
With tax season just around the corner, you may be concerned about the impact various government assistance programs may have on your tax return. We have broken it down for you so that there are no surprises when completing your tax return. CERB These payments did not have tax deducted from them and will need […]
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 […]
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 […]
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 […]
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 […]
Who qualifies for EI?
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 people apply as soon as possible to find out if they qualify; waiting more than four weeks after your last day of work means you could lose […]
EI for the self-employed
An advantage to being self-employed is that you don’t pay into Employment Insurance (EI) like employees do. However, a program was introduced in 2010 which allows self-employed individuals to opt in to pay Employment Insurance (EI) premiums. Now that this has been in effect for a number of years, let’s revisit some of the key […]
EI, OAS and CPP Rulings
Employment and Social Development Canada (“ESDC”) is responsible for EI, OAS and CPP rulings, not Canada Revenue Agency. On April 1, 2013, the Social Security Tribunal (“SST”), an independent administrative tribunal operating at arm’s length from ESDC, was introduced to review appeals on EI, OAS and CPP rulings made by the ESDC. The process to […]
Depending on the amount of your payroll remittance you may have some options as to when you are required to remit it to CRA. Regular Payroll Remittance You are a regular remitter if you are a new employer or your average monthly withholding amount (AMWA) two years ago was less than $25,000. In this case […]
Employment Insurance For Related People
Employers are required by law to deduct Employment Insurance (EI) premiums from all insurable earnings paid to their employees who are engaged in insurable employment. If an employer who has passed the standard dbs check is unsure whether or not an employee is engaged in insurable employment, the employer can request a ruling from the […]