June 22, 2022
QuickBooks Online Tips and Tricks for Canadian Small Business OwnersCheck out this recorded webinar to learn more about tips and tricks to use QuickBooks Online for Canadian small businesses
New Compilation Engagement Standards (CSRS 4200) – What You Need to KnowNew standards on compilation engagements have been released by the Auditing and Assurance Standards Board. Here's what you need to know.
3 Apps to Simplify Bookkeeping & Payroll for Canadian Small Business’Selecting the right technology will save you time, delight your clients and employees while providing you with visibility into the overall financial health of your business.
Recent Provincial Sales Tax UpdatesBoth Provinces of British Columbia (“BC”) and Saskatchewan (“SK”) recently announced provincial sales tax (“PST”) updates that may impact certain suppliers who do not have a physical presence in the BC or SK and supply goods or services in BC and SK.
February 2, 2021
COVID-19 Relief Update – Highly Affected Sectors Credit Availability Program (HASCAP)The Government of Canada recently announced the Highly Affected Sectors Credit Availability Program which provides loans between $25,000 and 1 Million to business that have been hardest hit by the pandemic.
January 18, 2021
COVID-19 Updates – Updated March 15 2021All the latest COVID19 Updates from CEWS, CEBA, Ontario Small Business Support Grant and more
January 13, 2021
Blog 2 – Emergency Wage Subsidy (CEWS) for the periods from July 5th, 2020 to June 2021 – updated March 15 2021The federal government passed new legislation modifying the existing Canada Emergency Wage Subsidy (“CEWS”) program. These are the highlights.
January 11, 2021
Government Announces New “Canada Emergency Rent Subsidy” (CERS) – Updated March 15 2021The government of Canada announced the “Canada Emergency Rent Subsidy”, a new program designed to provide financial assistance to commercial tenants who have been impacted by the ongoing COVID – 19 pandemic
December 2, 2020
Government of Ontario Announces “Support for Learners” Payment for Eligible ParentsThe “Support for Learners” program provides a one-time payment to parents or guardians to help offset costs during the 2020 -2021 school year
Congratulations to our 2020 CFE GraduatesKraft Berger is proud to announce that five of our own were successful in passing the Chartered Professional Accountants Common Final Examination (CFE)
October 19, 2020
CECRA Extension Opt-in Periods Expire October 30th, 2020Those who qualified for CECRA based on existing program parameters will be able to apply for an additional three months
New T4 reporting requirementsFor the 2020 tax year, the Canada Revenue Agency (CRA) will be introducing additional reporting for the T4 slip, Statement of Remuneration Paid.
June 30, 2020
Blog 1 – Canadian Emergency Wage Subsidy (CEWS) for the period March 15th, 2020 to July 4th, 2020To support businesses through these tough economic times, the Government is proposing to introduce a wage subsidy of 75 per cent for qualifying businesses, for up to 3 months, retroactive to March 15, 2020
COVID–19 Update: Canada Emergency Commercial Rent Assistance (CECRA) – last updated Aug 5 2020Canada Emergency Commercial Rent Assistance is a program designed to offer unsecured, forgivable loans to landlords who agree to reduce the rent payable to them by tenants who have experienced a reduction in revenues due to COVID-19
COVID-19 Update: Canada Emergency Business Account (CEBA) – updated Mar 11 2021The Canada Emergency Business Account provides loans of up to $60,000 to businesses & not-for-profits to assist with the economic impact of COVID-19
COVID-19 Update: Canada Emergency Response Benefit – last updated July 1 2020The government has established the Canada Emergency Response Benefit to provide temporary income support to employed and self-employed Canadians
Why Cloud Accounting is different than Traditional BookkeepingMost small businesses today have not changed their accounting and bookkeeping processes in several years. Perhaps it’s time to consider options
COVID-19 Update: Regional Relief and Recovery FundThe government of Canada announced a $675 million fund to support businesses that did not qualify for other COVID-19 relief measures.
COVID-19 Update: Canada Emergency Student Benefit – last updated May 14 2020The Canada Emergency Student Benefit provides financial support to students who are unable to find work due to COVID-19
COVID-19 Update: U.S. Recovery RebateThe Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a one-time non-taxable cash payment to all U.S. residents
April 3, 2020
COVID-19 Update: Support for IndividualsThe government has established the Canada Emergency Response Benefit (“CERB”). This taxable benefit will provide temporary income support to workers who have stopped working and are without employment or self-employment income for reasons related to COVID-19.
April 3, 2020
COVID-19 Update: Support for Businesses – Government of OntarioTax filing and remittance deadlines will remain the same. However, beginning April 1, 2020, penalties and interest will not apply to Ontario businesses that miss any filing or remittance deadline under select provincial taxes. This will continue for a period of five months.
COVID-19 Update: Temporary Wage Subsidy for Qualified EmployersTo support businesses that are facing revenue losses and to help prevent lay-offs, the government is proposing to provide eligible small employers a Temporary Wage Subsidy for a period of three months.
COVID-19 Update: Canada Emergency Wage SubsidyTo support businesses through these tough economic times, the Government is proposing to introduce a wage subsidy of 75 per cent for qualifying businesses, for up to 12 weeks, retroactive to March 15, 2020.
April 3, 2020
COVID-19 Update: Support for BusinessesThe government has now two wage subsidy programs available: The Canada Emergency Wage Subsidy and The Temporary Wage Subsidy.
How to Easily Capture Your Tax Documents Electronically with Microsoft Office LensAs you may be aware, the CRA has recently extended the personal tax filing deadline to June 1, 2020. While this allows everyone more time to prepare and file their tax returns, we are urging everyone to send us their tax filing information as soon as possible, preferably in digital format.
March 25, 2020
COVID-19 Update: Kraft Berger Update – Revised Office ProceduresFor now, accounting firms are considered as essential services as outlined by the recent Ontario pronouncements. We continue to have almost all of our staff working from home so that our employees and clients reduce their physical interaction with others.
Changes to WIP Rules Whip up a Storm2017 has certainly seen a whirlwind of change to the Canadian tax landscape. This has inspired us at KB to start....
PRIVATE COMPANY PROPOSED LEGISLATION 2.0 – NEW YEAR’S EDITIONIt seems like the government has a ‘knack’ for introducing exceedingly complex and fundamental tax legislation....
New Canadian Standard on Review Engagements – What Should You Expect?Review engagement reports on financial statements have changed for financial statement periods ending on or after......
March 20, 2020
Kraft Berger LLP Canadian Real Estate Series Part 1: Principal Residence Exemption – What it is and why you should care?For as long as anyone can remember, Canadians have been buying and selling their personal homes without.....
The Accelerated Investment Incentive – Department of Finance Announces New Tax Incentive for Capital ExpendituresOn December 22, 2017, US President Donald Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law.......
Farewell to the One Page Auditor’s Report!In April 2017, certain new and amended Canadian Auditing Standards (CAS) were approved by the Auditing and Assurance......
Changes to the Ontario Employer Health TaxEmployer Health Tax (“EHT”) is an Ontario payroll tax on remuneration paid to employees. Eligible employers are able to......
Cyber theft – What is it and how to prevent it?In one single transaction, the City of Saskatoon was scammed out of $1.04 million of taxpayers’ money....
Zero-Emission Vehicles – Good for the Environment and Your Tax Bill?The Federal government has recently announced new incentives to make zero-emission vehicles (“ZEV”) more affordable for Canadians....
UPDATE: Incorporating Realtors – Bill 145 Trust In Real Estate Services Act PassedOur recent blog post on February, 12, 2020 regarding Bill 145, Trust in Real Estate Services Act, 2019, has now been passed.....
February 24, 2020
Will Ontario Realtors be Able to Incorporate?Bill 145, Trust in Real Estate Services Act, 2019, is currently being considered by the Standing Committee on General Government...
February 24, 2020
Income From Publicly Traded Partnerships: Subject To Tosi?When the tax on split income (TOSI) rules were expanded on December 13, 2017, the tax community knew that the rules...
February 24, 2020
Is Cloud Accounting Software Right for My Business?There is a lot of discussion about moving to the cloud and online programs in general but why should you care...
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