Gregory, Harriman & Associates LLP Blog

Return of Fuel Charge Proceeds to Farmers Tax Credit – Carbon Tax Rebate Available to Farm Businesses

Details: Published: Monday, 07 March 2022 16:30

In its Economic and Fiscal Update for Fall 2021, which was released on December 14, 2021 the Department of Finance introduced a proposed tax credit available to farm businesses with the intention of effectively refunding proceeds from the Federal fuel charge carbon tax program to farmers. The proposed tax credit will be available starting in 2021 to farm businesses in any of the provinces that do not meet the federal stringency requirements (referred to as “backstop jurisdictions”)—currently, Ontario, Manitoba, Saskatchewan and Alberta.

Update on Home Office Expenses for 2021 and Beyond

Details: Published: Friday, 18 February 2022 15:46

In 2020 the Department of Finance introduced several additional tax measures for individuals and businesses in order to address the fact that as a result of COVID-19, a significant portion of Canada’s workforce had begun working from home on a regular basis, and employees are starting to bear some of the additional costs associated with maintaining a workplace in their home.

For 2021, the government has confirmed that some of these measures will continue for the 2021 taxation year, and in some cases for the 2022 taxation year as well. Here is an update on what can be claimed for home office expenses:

New Years Bookkeeping Resolution: Six Easy Tips to Stay on Top of Posting

Details: Published: Tuesday, 25 January 2022 13:53

For many small business owners, staying on top of your posting and keeping your businesses books well organized can be a daunting task. This is often a side of the business that even the most involved owner managers don’t exactly look forward to. For any business owner that feels this way, the start of a new year can be the perfect opportunity to make some easy but important changes to your posting practices.

Guide to the Canada Emergency Business Account (CEBA) Loan for Businesses (Updated January 13, 2022)

Details: Published: Thursday, 13 January 2022 01:03

This program which will be implemented by eligible financial will provide interest-free loans of up to $60,000 to eligible small businesses (original $40,000 CEBA amount plus expansion amount of $20,000), which must be used to cover their non-deferrable expenses (see list of non-deferrable expenses below).

Drought Relief Measures for Livestock Producers (Updated December 22, 2021)

Details: Published: Wednesday, 22 December 2021 00:01

With severe drought conditions providing a significant challenge to livestock producers in 2021, there are some important assistance measures available that all Alberta producers should be aware of. The following are two of the most important and widely accessible benefits available, including a new program recently introduced for 2021.

2021 Christmas Letter

Details: Published: Wednesday, 15 December 2021 21:12

With the holiday season upon us, the staff and partners at GH&A would like to take this opportunity to say THANK YOU to all of our clients. As we reflect on 2021 and look forward to the new opportunities that 2022 will have to offer, we want to let our clients know that we are here to help you navigate whatever challenges lie ahead.

In this year’s edition of the Christmas Letter, we will focus on important updates to COVID-19 benefits and other COVID-19 support measures, recent developments in personal and corporate tax, and some important tools and tips available to help manage your business and accounting needs.

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