Pandemic Advice

Expansion of Business Investment Tax Support Announced
On February 4, 2022, the Department of Finance released draft legislation intended to enact numerous measures previously announced in the 2021 Federal Budget. This draft legislation is open to public comment at this stage and is not yet enacted. The rules allowing immediate deductibility of eligible capital asset additions are of particular note.  Those rules...
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CEBA Repayment Deadline Extended
On January 12, 2022, the Department of Finance announced that the repayment deadline for the Canada Emergency Business Account (CEBA) loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023. Repayment on or before the new deadline of December 31, 2023, will result in loan forgiveness of up...
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4 Professional Services Trends in 2022 & Beyond
The past 18 months has radically transformed the professional services industry. See where accounting, finance and legal services in Saskatchewan, Canada and the rest of the world are trending in 2022 and beyond.
Wage and rent subsidies Canada
Wage & Rent Subsidies Remain Unchanged
Businesses, non-profits, and charities that have experienced a decline in revenues while weathering the COVID-19 crisis are eligible for a variety of government support measures including direct subsidies to support workers and pay rent. The Canada Emergency Wage Subsidy helps employers retain and quickly rehire workers previously laid off. The Canada Emergency Rent Subsidy provides...
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New COVID Support Program Available for Renters and Property Owners
The Canada Emergency Rent Subsidy (“CERS”) received Royal Assent last week and applications opened Monday through the CRA online system. This program is broader than the name implies – both renters and property owners may qualify for benefits to help offset their property-related costs including rent, mortgage interest, property taxes, insurance and even other costs....
Estate Planning in the wake of COVID-19
During uncertain times, it is natural for people to wonder if their affairs are in order and if their assets are protected if anything should happen to them. While we feel estate planning should always be a priority, it is especially important during this unprecedented time. In this article, we will discuss just a few...
Significant Changes to Canada Emergency Wage Subsidy
Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) program to provide support to employers for employees wages since March 15 as part of the government’s overall COVID-19 Economic Response Plan. Originally in place until June 6, the CEWS was extended to August 29 and is now being proposed to...
Revised CEBA Loan Eligibility Now Available
The revised application process became available today for the expanded CEBA loan program initially announced in May. The initial loan eligibility criteria was restricted to businesses with payroll between $20,000 and $1,500,000 in 2019 and many businesses have already accessed the $40,000 interest-free, partially forgivable loan through their main banking partner. Businesses that remunerate their...
Expanded CECRA and CEBA applications opening May 25
Update on Canada Emergency Commercial Rent Assistance (CECRA) program More information on the CECRA program (originally announced April 24, 2020) was provided today during the Prime Minister’s daily COVID update speech. This program will provide a forgivable loan to landlords for up to 50% of a commercial tenant’s monthly rent, if the landlord and tenants...
Canada Emergency Wage Subsidy (CEWS) – Applications Now Open
Thousands of employers have made claims under the CEWS application process that started this week and will remain open for claims until September 30th. The government anticipates releasing the first batch of funds to successful claimants later next week for claims made this week. The rules behind the eligibility and amounts of the potential claims...