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 […]
By Kody Wilson, CPA, CA, CBV To say that 2020 has been rough for most business owners is an understatement. The pandemic has created a host of issues businesses have had to deal with on the fly. But one silver lining that has come out of this challenging year is the opportunity to re-assess succession […]
By Lyman Gardiner, CPA, CA, LPA, CBV While most businesses have suffered a difficult or terrible 2020, there are small pockets of the economy that have enjoyed unprecedented demand and revenue. Many of the business owners who benefited from this unexpected boom in business may now find themselves in new financial territory – what to […]
New ‘Canada Emergency Rent Subsidy’ Program On October 9th, 2020, the Federal government announced a new rent and mortgage relief program for some businesses that have suffered revenue drops by subsidizing a percentage of their expenses on a sliding scale, up to a maximum of 65 per cent of eligible expenses, until June 2021. There […]
In this video series, GGFL’s Natalie Evans and Sarah Vandenbelt of Koble Commercial Real Estate & Brokerage discuss the impact COVID-19 is having on the commercial real estate market in Ottawa. Key issues addressed for both tenants and landlords are: How COVID-19 is impacting commercial rents How COVID-19 is affecting the valuations of commercial properties Inventory […]
By Eric Jungmeisteris, CPA, CA Manager, Tax & Advisory Services Canadian corporations with subsidiaries in other countries (a “foreign affiliate”) could find themselves facing a nasty surprise tax bill from the Canada Revenue Agency (“CRA”) when they transfer funds back to Canada. Aside from being located outside of Canada, a foreign affiliate is generally a […]
Additional COVID-19 Resources COVID-19 – Helping Your Employees New Tax Filing and Tax Payment Deadline Managing Your Cash Flow During COVID-19 The Canada Emergency Wage Subsidy Updated September 10, 2020 On September 9th, the government announced that the Canada Emergency Commercial Rent Assistance program would be extended one final time. The program now covers the […]
By: Josh Engel Among the many stresses and strains the COVID-19 epidemic is having on small and medium sized businesses, the landlord-tenant relationship looms large. I have both landlords and tenants as clients so I’m hearing both sides of what is a terrible dilemma. On one level, it’s simple: The tenant’s business has either slowed […]
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 […]
Is Your Business Prepared for a Slowdown? The COVID-19 virus is having a dramatic impact on business owners as they work to ensure the health and safety of client and staff and adapt their business operations. The impact of the virus will be felt for many months and will have a significant impact on financial […]