Employers
How to register for CRA My Business Account
My Business Account is a secure online portal that provides an opportunity to interact electronically with Canada Revenue Agency on various business accounts. Business accounts include GST/HST (except for GST/HST accounts administered by Revenu Québec), payroll, corporation income taxes, excise taxes, excise duties, and more. To get access, you will need:… Read More about “How to register for CRA My Business Account”
75% Wage Subsidy- Additional Information
On April 1, 2020 the government released further information about The Canada Emergency Wage Subsidy that will help businesses keep and return workers to their payroll. This will provide a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020. Eligible employers include individuals,… Read More about “75% Wage Subsidy- Additional Information”
Canada Emergency Response Benefit
The government has proposed legistlation to establish the Canada Emergency Response Benefit (CERB), to help those who have lost income because of COVID-19. The CERB will provide you with temporary income support of $500 a week for up to 16 weeks. The benefit will be available to workers: Residing in Canada who… Read More about “Canada Emergency Response Benefit”
WSIB Financial Relief Package
The Workplace Safety and Insurance Board (WSIB) has announced a financial relief package which will allow the deferral of premium reporting and payments until August 31, 2020. Businesses which report and pay monthly, quarterly or annual premiums are eligible for the deferral. The deferral applies to payments due on the following dates:… Read More about “WSIB Financial Relief Package”
Wage Subsidy Update
On March 27, 2020 the federal government announced additional economic measures to support small businesses and entrepreneurs. These measures include an increase in wage subsidies to 75% for qualifying businesses for up to 3 months retroactive to March 15, 2020 so that employers can keep workers on the payroll; allowing… Read More about “Wage Subsidy Update”
Does my small business qualify for the Quick Method for HST?
The Quick Method is a simplified way of calculating net tax for HST purposes. When you use the Quick Method, you still charge the GST at the rate of 5% or the HST at the applicable rate on your taxable supplies of service and products. However, this method allows you… Read More about “Does my small business qualify for the Quick Method for HST?”
2019 Federal Budget
On March 19, 2019, the federal government released their 2019 budget which proposed to help younger home-buyers get into the housing market, increased support for skills training as well as for research and development, and introduced steps toward a national pharmacare strategy. The federal government also proposed clean energy vehicle incentives… Read More about “2019 Federal Budget”
The Canada Pension Plan Enhancement
Background As of January 1st 2019, Canadian workers will contribute more to the Canada Pension Plan (CPP). This new change affects all workers in Canada except Quebec and plans to increase the maximum retirement pension by about 50% by 2024. Who contributes to CPP? Any workers in Canada except Quebec… Read More about “The Canada Pension Plan Enhancement”
