The Canada Emergency Rent Subsidy (CERS) was just announced, and it will replace the Canada Emergency Commercial Rent Assistance (CECRA) program. The CERS will be similar to the CECRA, as it will provide rent relief for small businesses and … [Read more...]
Just for Dentists Newsletters
23
Nov, 2020 Make year-end tax planning your number No. 1 priority
November 23, 2020 by
Here are some year-end tax planning ideas of how you can reduce your income tax bill for 2020. 1. Strip money from Inc. at capital gains tax rates Ponder for a moment the B.C. personal tax rates for 2020 when your income exceeds … [Read more...]
10
Nov, 2020 Would you like some tax-free income?
November 10, 2020 by
The most significant tax-free receipt is the principal residence exemption. However, there is other income that is not taxed, such as: inheritances and bequests from a deceased person any gifts, provided they are not disguised as employment … [Read more...]
10
Nov, 2020 When the sale of your home becomes taxable
November 10, 2020 by
When you sell your principal residence, you are not guaranteed a tax-free sale. It depends on your situation. If you use the principal residence exemption (PRE) quite a bit more than the average Canadian, you will draw the attention of the tax … [Read more...]
27
Oct, 2020 Repaying the $40,000 CEBA loan
October 27, 2020 by
You have until December 31, 2020, to receive a $40,000 loan under the Canada Emergency Business Account (CEBA) program. The purpose of this program is to help eligible businesses pay for operating expenses, payroll and other non-deferrable … [Read more...]
27
Oct, 2020 How President Biden would impact your stock portfolio
October 27, 2020 by
Billionaire hedge fund manager Paul Tudor Jones said in a CNBC interview last week that a Biden presidency will mean a huge boost in stock prices in the first quarter of 2021.The market rally is fuelled by an expected massive fiscal stimulus which … [Read more...]
13
Oct, 2020 CEWS audit strategy is intimidating
October 13, 2020 by
The Canada Revenue Agency (CRA) has started to audit the Canada Emergency Wage Subsidy (CEWS), and it took employers and accountants by surprise. The purpose of the CEWS audit program, according to CRA, “is to identify the types and levels of … [Read more...]
13
Oct, 2020 You need to know your break-even point
October 13, 2020 by
These are challenging times for a practice owner. You have to handle many issues, such as infection controls, staffing, lower patient volume and patients with health and financial concerns. To measure the financial recovery of your practice, you … [Read more...]
28
Sep, 2020 B.C.’s Economic Recovery Plan
September 28, 2020 by
The BC government introduced its economic recovery plan, which provides the following incentives for businesses and professionals. Here is a summary. BC PST Rebate on Machinery & Equipment Effective September 17, 2020, eligible … [Read more...]
28
Sep, 2020 September 30 is deadline for personal taxes and instalments
September 28, 2020 by
On September 30, you have to pay any income taxes owing on your 2019 personal income tax returns. You will not be charged penalties and interest, as long as you make the payment and file the return by the September 30 deadline. September 30 is … [Read more...]
