Knowledge Bureau Report

New Rent Relief for Canadian Businesses

By : Walter Harder, DFA-Tax Services Specialist and Evelyn Jacks, DFA-Tax Services Specialist, RWM, MFA, MFA-P Posted in: Strategic Thinking
Much to the relief of small business owners, the New Canada Emergency Rent Subsidy, announced 9 days after October rent payments were due, brought rent and mortgage support directly into the hands of business tenants. There was more good news, too. A new forgivable loan for businesses affected by the second wave of this pandemic was also introduced.  Here are the details:

Good News for Employees; Self-Employed, Not So Much

By : Evelyn Jacks, DFA-Tax Services Specialist, RWM, MFA, MFA-P Posted in: Strategic Thinking
Good news on the labor front in Canada:  the unemployment rate dropped to 9.0% in September, down from a high of 13.7% in May.  Further, the September Labour Force Survey released October 9 for the week of September 13 to 19, reported fewer people receiving the Canada Emergency Response Benefit (CERB) , EI or the Canada Emergency Student Benefit (13.5% down from 16.1%) and that the employment rate rose 2.1%.  So, what’s the bad news?   

Cash Crunch? Help Clients Find New Money

By : By Walter Harder, DFA-Tax Services Specialist Posted in: Strategic Thinking
The pandemic has changed the financial picture for a lot of Canadians. The good news?  Changes in income levels can produce tax savings few people have thought about. Reduced income, for example, may change the taxpayer’s requirement to make their December 15 instalment payment.  Or they may qualify now to collect tax benefits they would otherwise not be entitled to. Check out this true-to-life example:

Quote of the Day

Posted in: Strategic Thinking
 “There is nothing government can give you that it hasn’t taken from you in the first place.”- Sir Winston Churchill, Prime Minister of the UK 1940-1945 and 1951-1955.

Last Day to Enrol for the Virtual Distinguished Advisor Conference!

Posted in: Strategic Thinking
Be on the forefront of a massive shift in your business: learn how to transform your services to the highly personalized, digital solutions your clients now demand. It's not too late to join advisors from coast to coast in the unique virtual conference and networking experience we have created for you at the 17th annual Distinguished Advisor Conference October 28 – 30 (with access for completion of the program until November 14).

Working with Business Owners? Corporate Tax Concepts Misunderstood

By : Evelyn Jacks Posted in: Strategic Thinking, Current Issue
Is a taxable dividend a better option than paying a salary or bonus? There are close to 2 million small businesses in Canada, and many of them are looking for financial professionals to provide simple answers to complex questions such as this, so they can minimize risks to their business.   It’s a big opportunity for practice growth, but to work well with these clients, it’s critical to understand owner-manager remuneration options at year end.  Now you can step up to better guide these clients, by learning from experienced experts on November 18.