T4 slip that need to comply with new CRA reporting requirements

Ensure 2020 T4 Slips Comply with the 2020 Reporting Requirements

The Government’s COVID-19 relief programs have led to the Canada Revenue Agency (CRA) introducing additional reporting for the 2020 T4 slip, Statement of Remuneration Paid. All employers who issue T4s to employees must comply with these new requirements. CRA will use the additional information to be reported on the T4 to validate payments under the Canada Emergency Response Benefit (CERB), Canada Emergency Student Benefit (CESB), and payments made to employers under the Canada Emergency Wage …

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COVID-19 scam alert and how to avoid them

Business Matters

This month covers some best practices to protect your business during COVID-19 and electronic signatures: Management – How to avoid common scams during COVID-19; Taxation – Understanding COVID-19 federal government support; Technology – Understanding digital and electronic signatures; Wealth Management – Investment market update: What happened?   Management How to avoid common scams during COVID-19 Imran Ahmad, LL.B, LL.M As most of the Canadian workforce has now moved to remote work in response to the …

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CPA Canada Federal Budget Commentary

CPA Canada Federal Budget Commentary

On February 27th the Minister of Finance tabled his third budget, “Equality & Growth – A Strong Middle Class.”  The following is a brief overview of the key tax measures included in this budget. BUSINESS INCOME TAX MEASURES PASSIVE INVESTMENT INCOME EARNED BY PRIVATE CORPORATIONS The Budget proposes to introduce measures to reduce perceived tax advantages where a private corporation earns passive income. The announcement that such measures were going to be introduced was first …

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