Archive for the ‘News’ Category

 

CERB T4A Issues

March 3rd, 2021

You may have recently received your T4A slip relating to the Canada Emergency Response Benefit (CERB) completing your documents to file your 2020 tax return.  However, it has been noted that individuals who repaid their CERB and other benefits on or before December 31, 2020 may have received inaccurate T4A slips related to the repayments.  In certain cases these repayments have […]

Read full article | No Comments »

Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee

February 4th, 2021

To assist hardest-hit businesses with covering operational costs, the Business Development Bank of Canada (BDC) has been mandated by the Government of Canada to provide a guarantee to the financial institutions providing low interest loans ranging from $25,000 to $1,000,000 for qualifying businesses, called the Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee.  Repayment terms are up to 10 years, with […]

Read full article | No Comments »

2020 T4 Preparation

January 6th, 2021

COVID-19 continues to challenge us every day.  While the government assistance/programs pertaining to salary of employees of affected businesses provided welcome relief, it has also created additional reporting requirements about which employers must be aware. There were two payroll related programs, the Temporary Wage Subsidy (“TWS”) and the Canada Emergency Wage Subsidy (“CEWS”).  The TWS provided a less significant advantage, […]

Read full article | No Comments »

© 2025, Connelly & Koshy Professional Corporation Chartered Accountants in Ottawa, Ontario. | Ottawa Web Design - WEBSHARK