Year-end tax planning: tips worth their weight in gold!
In this bulletin, we’d like to give you some food for thought about the many tax advantages and pitfalls to be avoided. As you will see, there are many strategies to consider. Used properly, they can be worth their weight in gold! RRSP 2020 Informer – AMYOT GÉLINAS
Important information about the Canadian Business Emergency Account and the Canada Emergency Rent Grant
Canadian Business Emergency Account (CBEEA) It is now possible to apply for the additional $20,000. All companies that initially apply for the $40,000 are automatically eligible. They should visit their financial institution’s website and follow the instructions for applying for CUEC. The deadline for the initial $60,000 application or the $20,000 bonus is March 31, […]
Adjustments to certain tax measures for individuals and businesses
The Ministère des Finances has published an information bulletin announcing changes to Quebec’s tax system, mainly in response to the consequences of the current crisis and the introduction of assistance measures by the federal government. These changes concern, in particular, Canadian economic stimulus benefits, assistance affecting tax incentives, the flow-through share plan, health and welfare […]
UPDATE: Canadian Business Emergency Account (CEEA)
REMINDER 40,000 interest-free loan, of which $10,000 will be forgiven (subsidized) if $30,000 is repaid by December 31, 2022. Subject to certain conditions. You can apply according to two types of eligibility: Have between $20,000 and $1.5 million in payroll in 2019 according to T4 summary; Have $40,000 in non-deferrable expenses (fixed costs) for 2020, […]
Canada Revenue Agency increases fixed amount for meal claims and reasonable amount for meal allowances and grants
The Canada Revenue Agency will increase from $17 to $23 the amount employers can use to determine whether an overtime meal allowance or meals provided during overtime, as well as the “meal” portion of a travel allowance, are taxable. The Agency has also increased from $17 to $23 per meal the amount that transportation employees […]
Extension of employer contribution credit to the Health Services Fund for employees on paid leave
The Quebec government announces a 12-week extension of the employer contribution credit to the Health Services Fund for employees on paid leave, introduced following the introduction of the Canada Emergency Wage Subsidy. This additional assistance, which offsets costs not covered by the federal measure, will thus be in effect for the duration of the wage […]
Québec government enhances Canada’s emergency assistance for commercial rent
On June 8, the Quebec government announced a $140 million enhancement to the Canadian Emergency Commercial Rental Assistance (CECRA) program for Quebec commercial property owners. Thanks to this measure, landlords who had to commit to absorbing a 25% loss when registering for the program will now receive an amount equivalent to 12.5% of the […]
Important notice – Recognition of amounts received under temporary federal measures
The Ministère du Travail, de l’Emploi et de la Solidarité sociale reminds people receiving financial assistance from the Ministère that they must declare the amounts received from the federal government in the context of the COVID-19 health crisis. In the interests of fairness to all citizens, benefits or subsidies received under temporary federal measures will […]
Pandemic checklist
Our advisory services department has drawn up a series of questions in connection with the upcoming gradual decommissioning. As you know, the next few months are going to be all about recovery. But recovery also means preparation. To help you rebuild, or perhaps improve, your financial plan, our team of financial analysts is here to […]
UPDATE: Government offers employers more flexibility on Canada Emergency Wage Subsidy
(source) Department of Finance Canada The Government of Canada is taking immediate, significant and decisive action to support Canadians and employers across the country who are struggling as a result of the global outbreak of COVID-19. Today, Finance Minister Bill Morneau provided further details on the eligibility criteria for companies to apply for the Canada […]