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Working from Home Tax Credits

If you collected COVID-19 related benefits last year, you might notice when you do your taxes that you owe much more than in previous years. This is mainly due to CERB payments and some of the earlier benefit payments. These benefits did not have any taxes taken off of them, which means that they must

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Tax Deadlines and Tips to Get You Ready for the Upcoming 2020 Tax Season

When the pandemic hit, the Canada Revenue Agency (CRA) adopted measures to help Canadians cope with the global crisis. To do this, they extended both the deadlines for filing taxes and to make any payments that were owed. The CRA also did not charge penalties or interest on tax returns filed by September 1, 2020.

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The Canada Emergency Response Benefit and your 2020 Tax Return

Did you receive the Canada Emergency Response Benefit (CERB) during the beginning of the pandemic? If so, you should soon receive your tax slip from the Canada Revenue Agency (CRA) for CERB and any other recovery benefits you may have received in 2020. One thing some people did not seem to realize t is that

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COVID-19 Supports for Business

We are now entering one of the hardest seasons for many businesses and the ongoing pandemic is not making it any easier. The effects of COVID-19 are causing many businesses to experience additional financial challenges this holiday season. The Canada Revenue Agency (CRA) has many support benefits available to help business owners stay open during

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What Can I Claim On My Taxes When Working From Home During The Pandemic?

Since the beginning of the pandemic, many workforces have shifted from working in an office setting to having employees creating an office at home. This has forced many employees to purchase new furniture and office supplies to continue their job. The question is, can you write off these new expenses on your next tax return? 

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The CERB Has Ended, So What is Next?

The Canada Emergency Response Benefit (CERB) program officially ended on September 27, 2020 and the government is transitioning back to Employment Insurance (EI) for those still in need. For those that don’t qualify for EI, there are new recovery benefits that have been announced that you may be able to benefit from. These new programs

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Important Changes to the Canada Emergency Wage Subsidy

The Canada Emergency Wage Subsidy (CEWS) is a wage subsidy program offered by the Federal government to employers. The main purpose of CEWS is to help employers keep their employees on payroll during the pandemic so they do not have to rely on Employment Insurance.  When CEWS originally started back in March, not all businesses

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Working From Home? How to Claim Your Home Office Expenses

With millions of Canadians working from home as a result of the COVID-19 pandemic, many people had to purchase new computer equipment, desks and other supplies to help facilitate working from home. If you are an employee spending money to outfit a home office, the big question is what – if any expenses – will

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Updated: Personal & Corporate Tax Deadlines for 2020 due to COVID-19

With the current financial climate due to the COVID-19 pandemic, the Canada Revenue Agency (CRA) has made some changes to the deadlines of both personal and corporate taxes. If you want to avoid late fees, you need to know when your return and any payments are now due. Here is a list of some important