Marlene L. Grant Professional Corporation

Chartered Professional Accountant, Certified General Accountant

2021 Third Quarter Newsletter

Our 2021 Third Quarter newsletter can be viewed here and covers a number of important topics including:

  • CANADA EMERGENCY RENT SUBSIDY (CERS) …...……….…........ 1
    More Clarification
  •  
    CRA COLLECTIONS ….…......…….. 2
    Potential Impact on Business
  •  
    TRAVEL ALLOWANCES .................. 3
    Limited Distance Covered
  •  
    COVID-19 MEDICAL EXPENSES ...... 3
    Tax Treatment
  •  
    CANADA EMERGENCY
    RESPONSE BENEFIT (CERB) ……. 3
    Repayments
  •  
    TFSA …………………….................... 4
    Excess Contributions
  •  
    WILL AND BENEFICIARY DESIGNATIONS ………………….…... 4
    Are they current?
  •  
    CRA OR SCAMMER ………..………... 5
    Who is it?
  • This publication is a high-level summary of the most recent tax developments applicable to business owners, investors, and high net worth individuals.  Enjoy!

2021 Second Quarter Newsletter

Our 2021 Second Quarter newsletter can be viewed here and covers a number of important topics including:

  • IMMEDIATE CAPITAL ASSET WRITE-OFF..................... ..............................................Budget 2021
  • CANADA RECOVERY HIRINGCANADA RECOVERY HIRING PROGRAM (CRHP) …New Hiring Subsidy
  • EXTENDED WAGE AND RENT EXTENDED WAGE AND RENT SUBSIDIES .............Details Released
  • BENEFICIAL OWNERSHIP OF BENEFICIAL OWNERSHIP OF CORPORATIONS ….More Information to Be Disclosed
  • RENTAL PROPERTIES ……...…….. .............................................................................Major Repair Expenses
  • COVID-19 BENEFITS FOR COVID-19 BENEFITS FOR INDIVIDUALS........................Period Extensions
  • TAXPAYER RELIEF .……………..…..............................................................................Financial Hardship
  • GUARANTEED INCOME SUPPLEMENT .…………......................................................More People Are Now Eligible

2021 First Quarter Newsletter

Our 2021 First Quarter newsletter can be viewed here and covers a number of important topics including:

  • Canada Pension Plan........costs are increasing in 2021
  • Canada Emergency Wage Subsidy (CEWS).......public listing of applicants
  • Canada Emergency Rent Subsidy........more Covid-19 support
  • Employees working from home during COVID-19.........personal tax deductions
  • Canada Emergency Business Account.......Program expanded
  • Online Activity......CRA focus on video game streamers and online influencers

December 2020 Newsletter

Our December 2020 newsletter is available here and covers a number of important topics including:

  • Canada Pension Plan, when to apply?
  • Reasonable meal allowances
  • Commingling business and personal expenses....the cost could be very high
  • Unreported income...Statute barred periods
  • Unremitted GST/HST or Source deductions....Directors can be personally liable
  • U.S. Transition Tax.....IRS starting compliance work
  • RRIF/RRSP on death...roll over to a child or grandchild's RDSP

  

September 2020 Newsletter

Our September 2020 newsletter is available here and covers a number of important topics including:

  • Reimbursing employees for work from home technology expenses
  • Real Estate projects, watch out!
  • Loans for value, income splitting tool
  • and more

  

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