2020 Personal Income Tax: Your Frequently Asked Questions Last updated Feb 11, 2021 With all the government programs introduced in 2020, it can be difficult to understand the potential impact these programs can have on your personal tax returns. We have received many...
Announcement of the BC Recovery Benefit
Provincial Government Announces Application Process for the BC Recovery Benefit December 16, 2020 On Tuesday, December 8th the provincial government announced the finalized details of the BC Recovery Benefit. This benefit is a one-time, tax free payment of up to...
Announcement of the Canadian Emergency Rent Subsidy
Federal Government Announces CERS: A New, Targeted Support To Help Businesses Through The Pandemic November 30, 2020 The recently introduced Canada Emergency Rent Subsidy (CERS) will provide rent and mortgage support to small Canadian businesses who have seen a drop...
New Payment Options for Your Business Year-End
New Payment Options for Your Business Year-End October 27, 2020 At Provision CPAs, we strive to deliver the highest level of professional service. In order to facilitate this, we are migrating to a convenient pre-authorized invoicing and payment system through a...
CEWS 2.0: The Federal Government’s Revisions to the CEWS Program
CEWS 2.0: The Federal Government's Revisions to the CEWS Program August 20, 2020 The Federal government has recently announced changes to the Canada Emergency Wage Subsidy (CEWS). The revised program, or 'CEWS 2.0' as they are calling it, has a number of changes: Some...
Canada’s COVID-19 Programs: Business Loans Criteria Expansion & New Rent Assistance Program
Canada's COVID-19 Programs: Business Loans Criteria Expansion & New Rent Assistance Program May 21, 2020 In an effort to widen the support to include more small businesses during the COVID-19 crisis, the federal government has recently announced an expansion to...
Step-by-Step Guide to CEWS for Eligible Businesses that have Closed Down and have No Revenue
Step-by-Step Guide to CEWS for Eligible Businesses that have Closed Down with No Revenue April 17, 2020 Due to COVID-19, many businesses were forced to lay off some or all of their employees due to a significant reduction in revenues. Now that the government has...
Government COVID-19 Relief Programs FAQ
Government COVID-19 Relief Programs Frequently Asked Questions Last updated April 17, 2020 With the significant amount of information released by our Federal Government along with the periodic revisions and addendums, we have received many questions from our clients...
COVID-19: CRA & BC Updates for the week of March 30, 2020
COVID-19: CRA & BC Updates for the week of March 30, 2020 Last updated: April 1, 2020 Over the course of this week, Prime Minister Justin Trudeau will be announcing more details of the Canada Emergency Wage Subsidy program along with other updates. We will be...
COVID-19 Action Plan for Businesses: Wage Subsidy, EHT Deferrals, Business Credit Program
COVID-19 Action Plan for Businesses: Wage Subsidy, EHT Deferrals, Business Credit Program March 23, 2020 As we monitor CRA's response to the COVID-19 pandemic, we have compiled the below three new developments that are designed to help small businesses in this...