October 19, 2020

CECRA Extension Opt-in Periods Expire October 30th, 2020

Those who qualified for CECRA based on existing program parameters will be able to apply for an additional three months

October 19, 2020

Government Announces New “Canada Emergency Rent Subsidy”

The 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

August 31, 2020

New T4 reporting requirements

For the 2020 tax year, the Canada Revenue Agency (CRA) will be introducing additional reporting for the T4 slip, Statement of Remuneration Paid.

July 30, 2020

Blog 2 – Canadian Emergency Wage Subsidy (CEWS) for the period July 5th 2020 to November 21st, 2020

The federal government passed new legislation modifying the existing Canada Emergency Wage Subsidy (“CEWS”) program. These are the highlights.

June 30, 2020

Blog 1 – Canadian Emergency Wage Subsidy (CEWS) for the period March 15th, 2020 to July 4th, 2020

To 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

June 30, 2020

COVID–19 Update: Canada Emergency Commercial Rent Assistance (CECRA) – last updated Aug 5 2020

Canada 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

June 28, 2020

COVID-19 Update: Canada Emergency Business Account

The Canada Emergency Business Account provides loans of up to $40,000 to businesses & not-for-profits to assist with the economic impact of COVID-19

June 27, 2020

COVID-19 Update: Canada Emergency Response Benefit – last updated July 1 2020

The government has established the Canada Emergency Response Benefit to provide temporary income support to employed and self-employed Canadians

June 19, 2020

Why Cloud Accounting is different than Traditional Bookkeeping

Most small businesses today have not changed their accounting and bookkeeping processes in several years. Perhaps it’s time to consider options

May 25, 2020

COVID-19 Update: Regional Relief and Recovery Fund

The government of Canada announced a $675 million fund to support businesses that did not qualify for other COVID-19 relief measures.

May 14, 2020

COVID-19 Update: Canada Emergency Student Benefit – last updated May 14 2020

The Canada Emergency Student Benefit provides financial support to students who are unable to find work due to COVID-19

April 20, 2020

COVID-19 Update: U.S. Recovery Rebate

The 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 Individuals

The 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 Ontario

Tax 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.

April 3, 2020

COVID-19 Update: Temporary Wage Subsidy for Qualified Employers

To 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.

April 3, 2020

COVID-19 Update: Canada Emergency Wage Subsidy

To 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 Businesses

The government has now two wage subsidy programs available: The Canada Emergency Wage Subsidy and The Temporary Wage Subsidy.

March 28, 2020

How to Easily Capture Your Tax Documents Electronically with Microsoft Office Lens

As 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 Procedures

For 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.

March 20, 2020

Changes to WIP Rules Whip up a Storm

2017 has certainly seen a whirlwind of change to the Canadian tax landscape. This has inspired us at KB to start....

March 20, 2020

PRIVATE COMPANY PROPOSED LEGISLATION 2.0 – NEW YEAR’S EDITION

It seems like the government has a ‘knack’ for introducing exceedingly complex and fundamental tax legislation....

March 20, 2020

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.....

March 20, 2020

The Accelerated Investment Incentive – Department of Finance Announces New Tax Incentive for Capital Expenditures

On December 22, 2017, US President Donald Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law.......

March 20, 2020

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......

March 20, 2020

Changes to the Ontario Employer Health Tax

Employer Health Tax (“EHT”) is an Ontario payroll tax on remuneration paid to employees. Eligible employers are able to......

March 20, 2020

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....

March 20, 2020

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....

March 20, 2020

UPDATE: Incorporating Realtors – Bill 145 Trust In Real Estate Services Act Passed

Our 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...