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We are excited to see you online on May 18, 2022 for the next Virtual CE Summit on Retirement and Estate Planning. Be sure to register by April 20 for early bird tuition fees for you and your team. The CE Summits are a blended learning event. What does this mean? It’s just an outstanding comprehensive learning opportunity for you in multiple components:
When a business hires an employee, it is important for that employee to be “formally” hired, that is with a role description, a rate of pay or salary level and a statement of expectations that define the relationship between the employer and employee, all well documented and filed in case of audit from the CRA. This is particularly important post-COVID, as CRA will be auditing the Canada Emergency Wage Supplement (CEWS) payments businesses received, right up to the end of 2023. But it is also very important if you have hired family members.
What’s the biggest difference between a co-borrower and a cosigner? It relates to the degree of investment in the loan. Here are the details: