Immediate Expensing Rules: Good Tax Policy?
Over the course of the last two federal budgets (April 16, 2024 and November 4, 2025), the rules for claiming Capital Cost Allowance (CCA) have been uncertain. The proposal to extend immediate expensing rules for certain acquired assets were paused for over a year and then re-introduced in a series of four complex measures which together with new rules for Scientific Research and Experimental Development have become known as the “Productivity Super-Deduction”. A backdrop appears below. The key question: will this complexity be effective as an economic stimulator?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.
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:
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.
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.
GST/HST Remittance Requirements Postponed
There’s more good news for small business owners affected by the pandemic. On March 27, the federal government announced that it’s deferring payments of all GST/HST remittances until June 30, 2020. Here are the details:
Timing is Everything: How to Apply, and Apply Again for the Canada Emergency Response Benefit
Canadians can apply for the Canada Emergency Response Benefit (CERB) starting on April 6, but the government is hoping to flatten the curve of responses by having affected Canadians in a specific order, by birth month. Here’s how it will work:
