Canadian flag emphasizing support and hope through COVID-19 pandemic as highlighted in the 2020 Throne Speech.

2020 Throne Speech Highlights

On September 23, the second session of the 43rd Parliament opened with the traditional Throne Speech, which provided an overview of the Government’s plan for moving through the Covid-19 pandemic and boosting the economy for long-term recovery. Here are highlights of the various measures announced: Support for Individuals Although the Canada Emergency Response Benefit (CERB) will expire as previously announced on October 3, the Government announced that those who received the CERB would be supported by …

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Working on calculator to understand your financial situation under quarantine.

Cleaning out your financial closet under quarantine

Author:  Adam McHenry, CFA Sheltering in place has been tough; not being able to meet with family or friends, nor being able to step outside your home for a break required us all to adjust. There were some positives to the lockdown, though, including finishing off home projects you’ve been putting off. Another “to-do” that you might want to think about is whether there have been changes in priorities that could impact your financial affairs. If …

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Laptop with padlock representing the risk of cybersecurity while working remotely

Preserve Cybersecurity While Working Remotely

Author:  Imran Ahmad, LL.B, LL.M Most organizations have moved their workforces to some form of remote work as a result of the COVID-19 pandemic. Surprisingly, remote work has proven effective for many organizations, and they are now contemplating updating their remote work policies to allow employees more flexibility in a post-COVID-19 world. However, from a cybersecurity standpoint, remote work presents unique challenges and risks. Employees may be accessing sensitive corporate data from their personal devices, …

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Canadian flag overlayed on U.S. currency to highlight mistakes Canadians make with U.S. taxes

Mistakes Canadians make with U.S. taxes

Author:  Cyndy Packard Osode, CPA, CA, CPA (TX, U.S.A), CGMA Tax requirements in the United States are quite different than those of other countries around the world. This article will outline some of the common mistakes Canadians make when it comes to U.S. taxes. Do you recognize yourself in any of these scenarios …? Not filing a U.S. tax return when required The United States is one of the few countries in the world that …

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Dice on table depicting mandatory self-reporting for 10% temporary wage subsidy

Mandatory Self Reporting For The 10% Temporary Wage Subsidy

The Canada Revenue Agency (CRA) has released the PD27 10% Temporary Wage Subsidy Self-Identification Form for Employers. Eligible employers are required to indicate on the form the amount of Temporary Wage Subsidy (TWS) claimed as a reduction of their payroll remittances for the period March 18 to June 19, 2020. The CRA has confirmed employers who are eligible for the 10% Temporary Wage Subsidy are required to complete and file a self-identification form demonstrating their …

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Canadian compass pointing to support of Canadian Business with CEWS extension and increased funding

CEWS Extension – Increased subsidies and reduced revenue requirements to support our Canadian Businesses

On July 17, 2020, Finance Minister Bill Morneau provided further information on the extension of the CEWS program to December 19, 2020. Commencing with the period beginning July 5, 2020, the 30% revenue reduction requirement will become any decline in revenue and there is an additional subsidy for those with a revenue decline greater than 50%.  The maximum top-up subsidy of 25% is reached for employers with a 70% average revenue drop over the preceding …

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Business people planning to buy a business

Business Matters

This month covers some best practices for buying a business and tax planning: Management – Buying a Business: A Little Planning Goes a Long Way Taxation – Voluntary Disclosures Program Technology – What Is Blockchain, and Why Do You Need to Know What It Is? Wealth Management – Babies: The Cost and How to Plan for It   Management Buying a Business: A Little Planning Goes a Long Way Christene H. Hirschfeld, Q.C., ICD.D Last …

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