Tax and Financial Updates

July 7, 2020

If you have a property or properties in Canada and are collecting rental income or if you plan to sell your Canadian residence while living out of the country, there are specific tax requirements and obligations you need to be aware of.

Once again, we have partnered wit...

June 25, 2020

On June 22, 2020 President Trump signed a proclamation suspending the entry to the United States of certain non-immigrants. The entry ban took effect last evening at midnight and will remain in effect until at least December 31, 2020. There has been considerable press...

May 25, 2020

IMPORTANT TAX NEWS: The CRA has extended filing deadlines for corporations and trusts to SEPTEMBER 1, 2020.

More details HERE

May 22, 2020

This week, the Government of Canada announced an expansion to the eligibility criteria for the Canada Emergency Benefit Account (CEBA ) established to help more workers and small businesses affected by COVID-19.

The Canada Emergency Business Account (CEBA) will provide...

May 22, 2020

The Canada Emergency Wage Subsidy (CEWS) helps businesses keep employees on the payroll and encourages employers to re-hire workers previously laid off, and better positions businesses to bounce back following the crisis.

Finance Minister Bill Morneau has announced that...

May 22, 2020

Canada Emergency Commercial Rent Assistance (CECRA) for small businesses provides relief for small businesses experiencing financial hardship due to COVID-19. It offers unsecured, forgivable loans to eligible commercial property owners to:

  • reduce the rent owed by th...

May 21, 2020

The CRA has released guidance on the following international tax issues raised as a result of COVID-19:

  • Income Tax Residency

  • Carrying on Business in Canada/Permanent Establishment (PE rules)

  • Cross-border Employment Income

  • Waiver Requests – Payments to...

May 21, 2020

With many Canadians living and working abroad, navigating tax obligations while out of the country can be confusing and complex. To help address some of the many tax questions that we get asked regularly, we have partnered with Allan Nicols of THE CANADIAN EXPAT to pro...

April 30, 2020

The Senate approves $370 billion in additional funding for small businesses through programs administered by the U.S. Small Business Administration (SBA) as part of a new COVID-19 pandemic relief bill.

Read more HERE

April 29, 2020

GOVERNMENT OF CANADA: "As a Canadian employer whose business has been affected by COVID-19, you may be eligible for a subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020.

This wage subsidy will enable you to re-hire work...