Thoughts, opinions and trends – everything, all in one place.
Welch LLP is now a CDAP Digital Advisor
April 04, 2022 – Welch LLP is a qualified CDAP Digital Advisor working with SMEs under Stream 2 of the CDAP. If you are an SME, and you qualify for the CDAP, you have two options:
Canada’s New COVID-19 Benefits for Businesses
October 26, 2021 – While the existing support programs have been taking a broad-based approach, the new programs will be more targeted to provide help where it is needed the most. Here are the highlights:
Canada Recovery Hiring Program
August 06, 2021 – Introduced in the federal government’s 2021 budget, legislation applicable to the new Canada Recovery Hiring Program (“CRHP” or “the Program”) received Royal Assent on June 29, 2021. The Program is intended to provide continuing support to businesses hit hard by the COVID-19 pandemic to enable them to recover and grow.
The Lifetime Capital Gains Exemption (LCGE) for Medical Professionals
April 06, 2021 – Residents in Canada can claim the LCGE on the disposition of shares of a Qualifying Small Business Corporation (QSBC). By claiming the LCGE, the individual can shelter up to $892,918 (the current maximum LCGE) of the capital gain realized on the disposition of the QSBC shares.
Ontario Small Business Support Grant – Application Details
January 19, 2021 – As previously announced, eligible businesses can receive between $10,000 and $20,000 under this program, with broader flexibility left to business owners on how to best use funding in support of business operations.
Form PD27 – Mandatory Subsidy Reporting Requirement for Employers
January 18, 2021 – The CRA is requiring all eligible businesses, partnerships, non-profits, charities and sole proprietors with a payroll account to complete and submit Form PD27 (10% Temporary Wage Subsidy Self-identification Form for Employers) indicating how they have applied the 10% TWS. This applies if:
Canadian Emergency Business Account (CEBA) – Taxing the Forgiven
October 26, 2020 – The purpose of this blog isn’t to discuss the generalities of the CEBA loan (although we do cover the basics) but to discuss the taxation of the forgivable portion of that loan as it has been a source of confusion for many business owners.
RRSPs and the headaches of excess contributions
December 03, 2019 – Using a registered retirement savings plan (RRSP) is a great method of reducing your personal net income and deferring your […]
8% Ontario Provincial Rebate for Electricity Consumers: HST, ITC and RITC Implications
February 16, 2017 – The province of Ontario has recently passed into law the Ontario Rebate for Electricity Consumers Act, 2016 (Act). By virtue […]
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