COVID-19 – Canada’s Temporary Wage Subsidy (CTW)– FAQ

Temporary Wage Subsidy Summary The subsidy was effective March 18, 2020 and is equal to 10% of the employee wages to a maximum of $1,375 per employee and $25,000 per employer.This benefit will reduce an employer’s remittance of payroll withholdings to CRA.Eligible employers include corporations eligible for the small business deduction, non-profit organizations, charities, partnerships… Continue reading COVID-19 – Canada’s Temporary Wage Subsidy (CTW)– FAQ

Temporary Wage Subsidy for Employers

1. What is the Temporary Wage Subsidy for Employers? The Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). 2. Which employers are eligible? You are an eligible employer if you: are a… Continue reading Temporary Wage Subsidy for Employers

Shareholder vs Self Employed during COVID19

One of the areas of uncertainty for people is when they are incorporated. Is being a shareholder defined as "self employed"? The answer is No...not usually. Now it is is possible the government will change this definition, however, I am very doubtful and skeptical of it. However, there is a bit of relief. Many business… Continue reading Shareholder vs Self Employed during COVID19

CANADA’S COVID-19 ECONOMIC RESPONSE PLAN – KEY POINTS FOR BUSINESSES AND INDIVIDUALS

Canada's COVID-19 Economic Response Plan March 18 20203/19/2020 CANADA’S COVID-19 ECONOMIC RESPONSE PLAN – KEY POINTS FOR BUSINESSES AND INDIVIDUALSSince the beginning of March, restrictions and measures related to COVID-19 have rapidly escalated. While the first stages focused on public health and safety, in very short order, businesses and personal finances began to be affected. It… Continue reading CANADA’S COVID-19 ECONOMIC RESPONSE PLAN – KEY POINTS FOR BUSINESSES AND INDIVIDUALS