Additional Support for Canadian Businesses from the Economic Impact of COVID-19

From: Department of Finance Canada Backgrounder The Government of Canada is making additional investments to support Canadian businesses from the economic impacts of COVID-19. These new investments provide support to financial institutions and allow them to quickly provide credit and liquidity options for a range of businesses. These measures are a part of the Government of…

Government introduces Canada Emergency Response Benefit to help workers and businesses

From: Department of Finance Canada News release March 25, 2020 – Ottawa, Ontario – Department of Finance Canada The Government of Canada is taking strong, immediate and effective action to protect Canadians and the economy from the impacts of the global COVID-19 pandemic. No Canadian should have to choose between protecting their health, putting food on the…

Are you self-employed?

Did you know? As a self-employed individual, you and your spouse or common-law partner have until midnight on Monday, June 16, 2014, because June 15, 2014 falls on a Sunday, to file your 2013 income tax and benefit return. But don’t forget—you must pay any balance owing for 2013 on or before April 30, 2014, regardless of your filing…

Budget 2013 - 'Business' Tax Measures

Business Income Tax Measures Manufacturing and Processing Machinery and Equipment: Accelerated Capital Cost Allowance Machinery and equipment acquired by a taxpayer, after March 18, 2007 and before 2014, primarily for use in Canada for the manufacturing or processing of goods for sale or lease qualifies for a temporary accelerated capital cost allowance (CCA) rate of 50…

Would A Pickup Truck By Any Name Be As Depreciable?

This case should be of interest to business owners that use their vehicles for business purposes. In the Alberta oil-patch, there is no shortage of businesses that use vehicles routinely. Dealing with CRA audits in this area can be very frustrating since the CRA will often take a hard line position when assessing business vs.…

Harper Government Committed to Cutting Red Tape: Minister Shea Announces Improvements to Phone Services for Businesses

Moncton, New Brunswick, January 21, 2013… The Honourable Gail Shea, Minister of National Revenue, accompanied by Robert Goguen, Member of Parliament for Moncton—Riverview—Dieppe, today announced new red tape relief for Canadian companies as part of the Harper Government’s commitment to support jobs, growth, and long-term prosperity. As part of the Canada Revenue Agency’s (CRA) plan…