If you are a senior eligible for the OAS pension you will receive a payment of $300 and those of you who are eligible for the GIS will receive an additional $200. This is a special one-time tax-free payment from Santa in Ottawa that will be delivered … [Read more...]
Just for Doctors Newsletters
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Jun, 2020 Tax tips for employees who work from home during COVID-19
June 16, 2020 by
If you are working from home, you are eligible to deduct home office expenses, if you meet at least one of the following conditions: The home office space is where the employee principally does the work (meaning more than 50% of the time), or … [Read more...]
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Jun, 2020 Not Many Takers of the Commercial Rent Relief Program
June 9, 2020 by
Only 16,000 of Canada’s 1.2 million small businesses have applied for the Canada Emergency Commercial Rent Assistance (CECRA) in the first week. A survey by the Canadian Federation of Independent Businesses found that 40% of Canadian small … [Read more...]
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Jun, 2020 Our Top 2020 Post-Tax Season Planning Tips
June 9, 2020 by
How did you survive the tax season? Don’t ask your accountant how it went. Instead of being reunited with their families in May for a well-deserved R&R, the tax season was extended until June 1. Looking for additional tax revenues to pay back … [Read more...]
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Jun, 2020 CRA loan interest of 1% will boost income splitting loans
June 2, 2020 by
Effective July 1, 2020, the prescribed rate of interest will drop from 2% to 1%. The 2% rate was established on April 1, 2018. It is fantastic news for those in a high tax bracket who want to transfer investment income to family members in a lower … [Read more...]
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Jun, 2020 Your investments are down? Good time for an estate freeze!
June 2, 2020 by
What is an estate freeze? An estate freeze refers to transfer of the future growth of your corporate investments into the hands of your children. An estate freeze limits the value of your estate reflected in your corporate holdings at the date the … [Read more...]
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May, 2020 Businesses without employees now eligible for CEBA
May 21, 2020 by
Owner-operated businesses including professional practices will soon be able to apply for the Canada Emergency Business Account (“CEBA”). The program will now be available to a greater number of businesses that are sole proprietors receiving income … [Read more...]
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May, 2020 Apply now for the B.C. Emergency Benefit for Workers
May 4, 2020 by
On May 1, 2020, online applications opened for the B.C. Emergency Benefit for Workers (BCEBW) The BCEBW is a one-time, tax-free payment of $1,000 for eligible B.C. residents whose ability to work has been affected due to COVID. In order to be … [Read more...]
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May, 2020 The commercial rent assistance program. How can you benefit?
May 4, 2020 by
The government announced the Canada Emergency Commercial Rent Assistance program (CECRA) for small businesses. The CECRA will be available to eligible small businesses, meaning small business tenants that pay less than $50,000 per month in rent, … [Read more...]
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Apr, 2020 COVID-19 Support for students
April 24, 2020 by
The federal government proposed $9 billion of relief for post-secondary students and recent graduates. The proposed programs include: a Canada Emergency Student Benefit, which would provide $1,250 per month ($1,750 for students with … [Read more...]
