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A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.

This Week’s Edition of KBR:

July Poll

Do you agree with the extension of the CERB payment? Tell us why or why not.
Yes: 41 votes
No: 46 votes

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Tax Season 2020: Close to 11 Million Have Filed

The federal government pushed out this year’s tax filing deadlines in order to relieve some pressure on taxpayers, professionals, and CRA staff all coping with the effects of the pandemic. Has tax season slowed down as a result? It doesn’t really appear so when you compare the first month of tax filing season to the most recent statistics released by the government.

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It’s Spring E-Training Time: Hop to Your $200 Easter Treat

It's a different type of post-Easter treat savings! Treat yourself to a new  professional development opportunity.  Available only until April 15. . . when you enrol in a Designation program. We've also waived instalment fees on our EZ-Pay plan.

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Special CERB Report: How to Apply Now

Canadians can start to apply for the Canada Emergency Response Benefit (CERB) this week and there are some new details to be aware of.  Here’s how it will work:

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Finally: Details on the 75% Employer Wage Subsidy

The distance from Friday to Wednesday can seem like an eternity when hope hangs on the promise of a 75% wage subsidy. The details were finally announced on April 1, which we are sharing today. But the euphoric moment is somewhat muted as the fine print includes uncertainty, complexity and the reality that money will not flow for six weeks. This may be devastating for businesses trying to avoid bankruptcy at this critical time.

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Additional Support for SMEs: New EI Work Sharing Program

As the coronavirus Pandemic spreads in Canada, employers who face reduced revenues can try to avoid layoffs with the 75% Wage Subsidy Program. A second line of defense is a new EI Work-Sharing (WS) Program. Previously available only in the forestry, steel and aluminum business, there is now no restriction to a particular industry.  Here’s a checklist of information for bookkeepers, tax and financial advisors to share with small business clients. 

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