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Tips, Tricks and Taxes

Real Estate Professionals & Incorporation

As of October 1, 2020, the Ontario government now allows real estate professionals to incorporate Personal Real Estate Corporations (“PREC”).

January 26, 2021
/Tax

Ontario COVID-19 Grants

The government of Ontario recently released applications for a number of different grants:

  • Ontario Small Business Support Grant, which helps small businesses that are required to close or significantly restrict services under the Provincewide Shutdown effective December 26, 2020.
January 16, 2021
/Tax

2020 Federal Fall Economic Update

The federal government recently announced some tax changes at their Fall Economic Statement. We have summarized some of the most important items below:

COVID-19 Support
  • The government has provided details on period 11 to 13  (covering December 20, 2020 to March 13, 2021) of the Canada Emergency Wage Subsidy (CEWS) including:
    • December 3, 2020
      /Tax

CEWS - CERS Update

The government recently passed into law some changes to the Canada Emergency Wage Subsidy (“CEWS”) including:

•    Extending the CEWS program to June 2021.
•    Providing a maximum subsidy for period 8-10 (October to December) of 65% of wages paid up to $1,129 per employee per week (40% base subsidy + 25% top-up subsidy). Details for Period 11 – 17 (January to June 2021) have not been released.
•    ...

November 20, 2020
/Tax

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