Purtzki, Johansen + Associates

Physicians

Unlike any other professional sector we encounter, medical practices present a unique challenge in providing accounting, tax and consulting services.

As a result of continuing political changes in the health-care field, physicians are under constant pressure to increase revenues and control costs at the same time. Due of this pressure, physicians require an advisor who will deliver both traditional and specialized accounting, creative tax solutions, and consulting services. This is where we excel.

Over the years, we have tracked changes and forecast trends to ensure we meet the unique challenges of managing medical practices.

For more information about medical practice resources, visit: Just for Doctors

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  • CRA loan interest of 1% will boost income splitting loans (6/2/2020) - Effective July 1, 2020, the prescribed rate of interest will drop from 2% to 1%. The 2% rate was established on April 1, 2018. It is fantastic news for those in a high tax bracket who want to transfer investment income to family members in a lower tax bracket. To… Continue Reading
  • Your investments are down? Good time for an estate freeze! (6/2/2020) - What is an estate freeze? An estate freeze refers to transfer of the future growth of your corporate investments into the hands of your children. An estate freeze limits the value of your estate reflected in your corporate holdings at the date the freeze is implemented. Accordingly, capital gains and… Continue Reading
  • Purtzki-CEBA Businesses without employees now eligible for CEBA (5/21/2020) - Owner-operated businesses including professional practices will soon be able to apply for the Canada Emergency Business Account (“CEBA”). The program will now be available to a greater number of businesses that are sole proprietors receiving income directly from their businesses, businesses that rely on contractors and family-owned corporations that pay… Continue Reading
  • Apply now for the B.C. Emergency Benefit for Workers (5/4/2020) - On May 1, 2020, online applications opened for the B.C. Emergency Benefit for Workers (BCEBW) The BCEBW is a one-time, tax-free payment of $1,000 for eligible B.C. residents whose ability to work has been affected due to COVID. In order to be eligible for the BCEBW, individuals: Reside in B.C.,… Continue Reading
  • The commercial rent assistance program. How can you benefit? (5/4/2020) - The government announced the Canada Emergency Commercial Rent Assistance program (CECRA) for small businesses. The CECRA will be available to eligible small businesses, meaning small business tenants that pay less than $50,000 per month in rent, that have temporarily ceased operations or experienced a 70% drop in pre-COVID-19 revenues, and… Continue Reading
  • COVID-19 Support for students (4/24/2020) - The federal government proposed $9 billion of relief for post-secondary students and recent graduates. The proposed programs include: a Canada Emergency Student Benefit, which would provide $1,250 per month ($1,750 for students with dependents or disabilities), between May and August 2020, to eligible students who do not qualify for the… Continue Reading
  • How to Apply for Canada Emergency Wage Subsidy Starting April 27th (4/24/2020) - The federal government has announced that applications for the 75 per cent wage subsidy for qualifying businesses will open on April 27th. How to apply for CEWS? Option 1: Let us help you. We are able to apply on your behalf through the “Represent a Client” service What we require:… Continue Reading
  • Christmas in April: Get your $40,000 interest-free loan now! (4/14/2020) - The Canada Emergency Business Account (“CEBA”) is on the launch pad. On April 9, 2020, the major banks began accepting CEBA applications. Here is a summary of the rules, now that banks have begun to accept your application. Up to $40,000 interest-free loan advances by means of a line of… Continue Reading
  • The Canada Emergency Wage Subsidy (CEWS) – UPDATE (4/14/2020) - On April 11, 2020, the Canada Emergency Wage Subsidy legislation was passed. Here is a final summary of the important details of the program. What employers are eligible for the CEWS? Eligible entities include individuals, corporations and partnerships. What is the eligibility threshold for the CEWS? An employer will be… Continue Reading
  • Accessing Wage Subsidies (4/6/2020) - Many doctors right now are seeing significant reductions of their incomes as a result of the COVID-19 crisis. If the doctors were on salaries prior to the crisis and have now seen a 30% or greater drop in income for March, and are expecting the same for April and May,… Continue Reading

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