The Top 3 Things You Need to Know from the 2022 Federal Budget in Canada

A small wood piece that says FAQ between two puzzle pieces

Summary of the 2022 Federal Budget Canada released the 2022 federal budget on April 7, 2022. As in past years, the focus of this year’s budget is on building a stronger, more resilient economy leading to long-term fiscal sustainability, and to reduce the federal debt-to-GDP ratio to pre-pandemic levels. The 2022 federal budget also aims […]

Supply Chain Relief Financing

Canadian bills

BDC is now offering Supply Chain Relief Financing of between $100K-$500K for businesses affected by supply chain issues. This funding helps cover operational cash flow needs related to supply chain disruptions. Features of this funding include: Up to 12 months for principal payment postponement No penalty for repaying your loan early   Financing can be […]

What Are CRA’s Processing Times?

Alarm clock

The Canada Revenue Agency has shared an online tool that will offer you a general idea of standard processing times for tax returns and various tax-related submissions such as clearance certificates, CPP submissions, T1 adjustments, payroll related items, and more. This can be a helpful resource when you are awaiting the processing of your files […]

CRA My Account Update | Email Notifications

Woman smiling at computer

As of February 7, 2022, individuals using Canada Revenue Agency’s (CRA) My Account system will need to have an email address on file. This will help protect users against fraudulent activity as you will be notified via email when important changes are made to your account and personal information. These changes include: Your address Your […]

CEBA Loan Repayment Deadline Extension

loan

The Canada Emergency Business Account (CEBA) program has provided interest-free, partially forgivable loans to almost 1 million businesses and non-profit organizations to help navigate the ongoing pandemic. To support short-term economic recovery as the pandemic continues, the Canadian government has announced that the repayment deadline for CEBA loans to qualify for partial loan forgiveness is […]

What to Look for in an Accounting Firm for Your Business

question marks

When researching and selecting an accounting firm for your business, you should consider a firm that does more than preparing your year-end financial statements and tax returns to ensure compliance with the Canada Revenue Agency. The Right Accounting Firm for Your Business The right firm can provide so much more value to you, and the […]

Restrictions Exemption Program Implementation Grant for Alberta Businesses

windmill and blue sky

If your business is participating in Alberta’s Restrictions Exemption Program, you may be eligible for a one-time payment of $2000 to help offset the cost of implementing the program. To be eligible, an Albertan organization must be: on the list of eligible in-scope operators (restaurants, bars and hotels are the most common of these) implementing […]

Canada Revenue Agency Audits to Resume in September | How to Prepare

Beginning in March 2020, many audits performed by the Canada Revenue Agency (CRA) were paused or suspended as our government adapted to the COVID-19 pandemic and focused energies on supporting Canadians through economic uncertainty. In July 2021, auditors began to communicate that work on these files would resume in September this year. If the audit […]

Controller Services for Busy Business Owners

Woman smiling at computer

Consistently monitoring your cash flow to fully understand how money moves in and out of your business can be a time consuming job, but it is an important aspect of managing your business effectively. In order to make the best decisions for the growth and potential of your business, you must first have good information […]

Update – The Canada 75 % Wage Subsidy

wage blocks

Finance Minister, Bill Morneau, announced today (April 1st, 2020) that the 75 % wage subsidy would be available within 3-6 weeks time. What we know so far: The subsidy is available to all businesses, charities and non-profit organizations as long as they can prove that they have lost 30 % of their revenue due to COVID-19. […]