Often, for tax planning or other purposes trusts are created, for example, to own shares of private corporations. Until this year, these and other similar trusts were not required to file an annual trust tax return. As of 2021, all trusts, with a few exceptions, will be required to report the identity of all trustees, beneficiaries, and settlors of the trust.
On October 21st, 2021, the Federal Government announced new programs to support the Hospitality & Tourism industry as well as other hard-hit organizations during the COVID pandemic. Here is what we know so far : INTRODUCTION OF THE TOURISM AND HOSPITALITY RECOVERY PROGRAM (THRP) Targeted organizations Organizations in selected sectors of the hospitality & tourism […]
The COVID-19 pandemic has fundamentally changed the way that the world operates, and it is unlikely to change significantly in the near-term. How will these changes affect how nonprofits function once the worst of the pandemic has passed? Here are four key issues to watch.
The April 19 Federal budget introduced the New Canada Recovery Hiring Program. The purpose of this program is to compensate eligible entities for extra costs incurred for increased wages or hours worked or hiring more staff.
COVID-19 | Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) Program Extensions
On April 19, 2021, the Minister of Finance presented the 2021 Federal budget which included the extension of the Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS).
Like for all other business operations, the COVID-19 pandemic is changing how nonprofit organizations execute their fundraising activities. No one knows how long the crisis will last, and nonprofits can’t afford to take a break from fundraising. Staying connected to donors is critical to nonprofits and their ability to achieve their mission.
Like for all other business operations, the COVID-19 pandemic is changing how nonprofit organizations execute their fundraising activities. Many nonprofits have switched to virtual activities to keep donors engaged and to encourage giving.
It is important to note that the CEBA debt forgiveness amount is calculated on the highest amount drawn from your CEBA at any time up to and including a date to be determined by your financial institutions. You should discuss with your account manager at your financial institution to ensure to meet the program requirements in order to benefit from the forgiveness.
Over the last several months many of us have received government aid, whether directly through CERB payments, forgivable loans, wage subsidies, rent subsidies and other payments. Are these payments taxable, and if so, how?
Because of the COVID-19 crisis, both the federal and Quebec governments have put in place simplified procedures to be able to claim home office expenses.