Monthly Archives: November 2020

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Suspended Losses for Corporations, Trusts and Partnerships

By Nizam Shajani, CA, MBA November 20, 2020 While losses in your corporation, trust or partnership are undesirable from a conventional perspective, they can be valuable from a taxation standpoint. This is because depending on the type of loss incurred, it may result in lowering your tax obligation or even garnering a refund. However the…
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COVID-19 Federal Benefits and Supports – Canada Emergency Wage Subsidy Update

November 19, 2020 By Nizam Shajani, CPA, CA, MBA This subsidy is available to Canadian businesses, big or small, individuals, partnerships and corporations that are not publicly funded. This will also be available for not for profit organizations and charities. Those organizations that do not qualify for the Canada Emergency Wage Subsidy may continue to…
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Temporary Wage Subsidy for Employers – Updated from March 21st

March 21, 2020 By Nizam Shajani, CPA, CA, MBA On March 18th the federal government announced temporary wage subsidies 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). Who qualifies?…
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COVID-19 Federal Benefits and Supports – CERB (Update from April 16th)

April 16, 2020 By Nizam Shajani, CPA, CA, MBA The government has announced changes to the Canada Emergency Response Benefit (CERB). In addition to have stopped working due to COVID-19, the benefit is now extended to those who earn up to $1,000 per month, to seasonal workers who have exhausted their EI regular benefits and…
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