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Home office expense deductions during the pandemic
With the recent increase in work-from-home arrangements due to COVID-19, many taxpayers may now be eligible to claim a deduction for their home office costs.
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COVID-19: Business guidance webinars
Let our experts help you navigate the various tax deadline extensions, loans, subsidies, grants and other relief measures the federal and provincial governments have implemented in the wake of the COVID-19 crisis.
The Latest at Baker Tilly Dartmouth
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COVID-19: Business guidance
Updated as of October 22, 2020. Stay tuned for the latest updates on tax and financial measures impacting Canadian businesses in the wake of COVID-19, as well as insights on how organizations can navigate this crisis.
Employee mental health: How and why to build support
Every single person on our planet has been affected by the COVID-19 pandemic, which has highlighted the importance of employee mental health. This challenge provides employers an opportunity to support their employees’ personal needs, resulting in a more productive and engaged workforce.
COVID-19 business guidance: EHT and WSIB
The economic impact of the COVID-19 pandemic to both individuals and businesses has been devastating. With job losses and unemployment levels at an all-time high, no one could have predicted the level of pain and sacrifice we have all had to endure.
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Get the latest news and updates
Get the latest news and updates from the experts at Baker Tilly.
Canada Emergency Wage Subsidy (CEWS 2.0)
On July 17, 2020, the federal government announced significant changes to the Canada Emergency Wage Subsidy (CEWS), which we will refer to as CEWS 2.0. Prior to July 17, the government consulted stakeholders seeking input for modifications needed to the program as the government’s response to the COVID-19 pandemic continues to evolve.
CPP: To defer or not to defer
For several years now, clients and contacts (with more frequency of late, and that’s no accident) have been asking me: “Hey Steve, I am turning 65 shortly, do I apply for CPP now or do I wait – what makes more sense financially?” Based on analysis provided by experts in...
COVID-19 support programs for Individuals and Businesses
As the ongoing response to COVID-19 rapidly evolves, many Canadians find themselves facing an uncertain financial future. To help alleviate concerns, the Canadian government introduced financial relief measures and programs to support individuals and businesses impacted by the COVID-19 pandemic.
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Seller beware: tax issues for Canadian residents selling U.S. real estate
For a few years following the 2008 financial crisis, we saw many investors and snowbirds purchasing U.S. properties to take advantage of real estate bargains and a weak U.S. dollar. Over a decade has passed, the Canadian dollar has weakened, and with limited ability—or desire—to travel to the U.S. due to COVID-19 we are noticing a significant increase in U.S. real estate sales by Canadian residents. The situation provides an incentive to review some of the common U.S. tax issues when a Canadian resident sells U.S. real estate.
Further expansion of the CEBA – applications open June 26
The expanded CEBA program is being made available gradually starting with the larger banks. Other participating financial institutions will start offering the program over the coming weeks.
The Canada Emergency Business Account (CEBA) was previously introduced in early April 2020 to provide eligible businesses with financing up to $40,000, with 25 per cent of this being forgivable based on the terms of the CEBA loan program. In the early stages of the program, businesses were required to employ individuals with an aggregate employment expense between $40,000 and $1,000,000 in 2019. The program was modified to widen the employment scope to between $20,000 and $1,500,000, thus expanding the reach of the program.
Canada Emergency Wage Subsidy – Subsidize up to 100% of payroll costs
Today is application day for the Canada Emergency Wage Subsidy (CEWS), and in certain circumstances, you can get up to 100 per cent subsidy of your payroll costs.
Updates to the Canada Emergency Wage Subsidy (CEWS)
The Canada Emergency Wage Subsidy (CEWS) program – which went through a facelift before hitting the House of Commons – was revised just before receiving Royal Assent on April 11, 2020. The intent of this program is to provide financial support to businesses that were affected by COVID-19 – in order to prevent further job losses, encourage employers to re-hire workers previously laid off and help transition Canadian businesses back into a thriving economy post pandemic.
