Canada United, created by RMC is a movement to support local businesses across Canada. The Canada United Small Business Relief Fund (CUSBRF) was created to help small businesses with the cost of expenses to reopen safely, or adopt e-commerce technologies to conduct more of their business online.
Over $14 Million has been contributed by the Federal Government, RBC, and Canada United partners to support economic recovery due to COVID-19.
2020 has been an anomaly in terms of filing due dates and paying your tax bill.
Owning a business can be a lot of work. You’re a wearer of many hats.
And because you’re so busy focusing on marketing, scheduling and getting the day-to day business done, sometimes you drop the ball on other areas … for most businesses this tends to be bookkeeping and tax planning.
As a business owner, you are legally obligated to maintain records that are complete and dependable, including supporting documents. You are also required to protect these records (even if they are held by a third party) and maintain a backup.
With the global pandemic this year, many changes have been made in all areas of our lives, making it difficult to keep track of what is due when.
To help simplify your obligations from a tax perspective, here is all the pertinent information you must know.
At the end of last month, it was announced that a new program would be put in place by the Ontario government to offer relief for landlords and small business owners.
The program, Ontario-Canada Emergency Commercial Rent Assistance Program (OCECRA), will provide loans to commercial property owners in exchange for reducing rent for small business tenants by at least 75% with a freeze on evictions for three months. These loans will be forgivable.
A number of non-essential service workplaces, from libraries to casinos, have been mandated to shut down in Ontario in an attempt to curb the spread of COVID-19.
Parties are a great way to celebrate the holidays and give your employees an opportunity to relax and mingle outside of the regular day-to-day activities in the office. As a business, the cost of these parties may be fully deductible on your business’s tax return.
There are, however, two important rules to remember when hosting a holiday party, or any employer-organized social event. These rules will ensure you can take advantage of these deductions.
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