Gregory, Harriman & Associates LLP Blog

The Lesser Known COVID-19 Benefits (Updated December 10, 2020)

Details: Published: Thursday, 10 December 2020 08:42

If you or your business has been impacted by the COVID-19 pandemic, you will likely be aware of some of the major economic benefit programs established by the Federal government, including the Canada Emergency Response Benefit (CERB), Canada Emergency Wage Subsidy (CEWS), and Canada Emergency Business Account (CEBA).

These benefits, due to their wide availability and unprecedented extent of support provided, have been closely followed by the media and other tax reporting sources. There are several other smaller benefits and relief initiatives at both the federal and provincial levels of government that have received less attention, but nevertheless may help provide a much-needed boost to those in need of support to overcome the impacts of COVID-19. Here are a few of the lesser known benefits that taxpayers should be aware of and consider if they may be available to you.

Year-End Tax Planning Tips

Details: Published: Saturday, 05 December 2020 09:24

December 31, 2020 is fast approaching… see below for a list of tax planning considerations. Please contact us for further details or to discuss whether these may apply to your tax situation.

Overview of COVID-19 Benefits and Other Relief Measures (Updated November 5, 2020)

Details: Published: Thursday, 05 November 2020 00:00

In response to the COVID-19 emergency, and its significant impact on the well-being of Canadian individuals, businesses, and other organizations alike, both the Canadian federal government, and Alberta government have introduced measures intended to assist Canadians in getting through this difficult time. Many of the measures are financial in nature and widely available. The purpose of this article is to summarize some of the many important benefits introduced to date and provide some guidance on what you need to do to ensure that you or your business are taking full advantage of the relief available.

Temporary Wage Subsidy for Employers (TWS) – CRA Reporting Requirements – July 29,2020

Details: Published: Wednesday, 29 July 2020 21:13

The Canada Revenue Agency recently confirmed that all employers who were eligible to claim the 10% Temporary Wage Subsidy for Employers (TWS) for the period of March 18 to June 19, 2020, will be required to complete and submit information regarding the subsidy claimed for each eligible payroll account either through the payroll section of their My Business account (under menu option “10% Temporary Wage Subsidy”), or by completing form PD27 “Temporary Wage Subsidy Self-Identification Form for Employers”.

Corporate Vehicle Expenses - What You Need to Know Before Claiming the Expense

Details: Published: Friday, 17 July 2020 21:27

Many small business Owner-Managers use their personally owned vehicle in performing the every-day duties of their incorporated business. This is an approach that often makes sense where the nature of the business is such that there is no need for a separate, corporate owned vehicle. In these cases, owning a vehicle that is used for both personal and business purposes in the owner’s personal name, instead of in the corporation, helps avoid the potential shareholder benefit issues that can arise where corporate owned vehicles are used for personal purposes.

COVID-19 - Charity Return Update - March 24, 2020

Details: Published: Tuesday, 24 March 2020 21:33

As part of government actions taken in dealing with the effects of the COVID-19 pandemic, the following updates have been released in regards to the Charities Directorate.

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