Health Professionals

CEBA Applications Update

CEBA Applications Update

The application deadline to apply for the CEBA loan was extended to March 31, 2021. We understand that some banks will be opening applications for the additional CEBA loan of $20,000 on December 4th, 2020. CEBA details for new and existing applications are as follows: Existing CEBA clients: Another $20,000 available (in addition to the original […]

Highlights from the Fall Economic Statement

Highlights from the Fall Economic Statement

On November 30th, the federal government delivered its Fall Economic Statement. The statement included a number of updates to existing COVID-19 relief programs, as well as changes to other existing tax relief programs. Of note, there were no changes to income tax rates for individuals or corporations on any type of income earned, or other […]

Form PD27 – New COVID Subsidy Reporting Requirement for Businesses

Form PD27 – New COVID Subsidy Reporting Requirement for Businesses

By Karen McKay, CPA, CGA As COVID-19 took its devastating toll on the economy last spring, the federal government introduced the 10% Temporary Wage Subsidy (TWS). That aid program was quickly followed by the Canada Emergency Wage Subsidy (CEWS). With 2020 quickly drawing to a close, the government is now requiring all eligible businesses, eligible […]

Canada Emergency Rent Subsidy Program Details

Canada Emergency Rent Subsidy Program Details

The new Canada Emergency Rent Subsidy (CERS) program for businesses, non-profits and charities that are facing economic challenges due to COVID-19 received Royal Ascent on November 19th, 2020. It is expected applications for CERS will open as early as Monday, November 23rd, 2020. CERS replaces the Canada Emergency Commercial Rent Assistance (CECRA) program and will […]

Effective Use and Tax Planning of Your Professional Corporation – Video

Effective Use and Tax Planning of Your Professional Corporation – Video

In this webinar recording, the head of GGFL’s Health Professional Practice, Donna Ho-Faloon, discusses how medical and dental professionals can most effectively make use of their professional corporation. In the video, Donna discusses: – Savings and tax deferral – Tax efficient financing for the purchase of a practice or staring a practice – Income splitting […]

GGFL COVID-19 Commentary Week #5

GGFL COVID-19 Commentary Week #5

By: Donna Ho-Faloon Dentists and doctors are not professionals typically associated with economic vulnerability but the COVID-19 pandemic is proving to be a blight on the entire small business community of which dentists and doctors are very much a part. We understand enough about how the virus is spread to understand how precarious working life […]

COVID-19, Taxes and  Office Operations

COVID-19, Taxes and Office Operations

Updated July 15, 2020 Additional COVID-19 Resources Managing Your Cash Flow During COVID-19 New Tax Filing and Tax Payment Deadlines COVID-19 – Helping Your Employees The Canada Emergency Wage Subsidy Aid for Students and the Canadian Emergency Student Benefit GGFL Service Changes Secure Document Drop-Off Signing Your Tax Return Electronically Client Safety and Care During […]