Financial wellness can be a sensitive and uncomfortable discussion for many. Taking control of your finances can feel overwhelming and unattainable at times. Mowbrey Gil is here to help you navigate these waters with expert advice. Here are some simple steps that anyone can take to better understand and take control of their finances. Increase your knowledge of financial management Spend some time learning about debt management, budgeting, saving, investing or retirement planning. CPA Canada has resources available […]
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Every year CRA sends out letters requesting information on a specific line item on tax returns. Unlike prior years, this year CRA is giving advanced warning of what this will be. In an upcoming letter campaign, CRA will be asking for shareholder information on schedule 50 of the corporate income tax return where it is […]
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The world as we know has and continued to rapidly change because of COVID-19 and the ongoing political developments such as the elections in the United States (US), the United Kingdom’s (UK) impending exit from the European Union (BREXIT), trade wars between economic superpowers, and climate change, among other global emergencies. COVID-19 being the most […]
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CEBA – Forgivable Loan If you are a small business owner you are likely aware of the Canadian Emergency Business Account (CEBA) and may have received a loan under this program. This loan program is facilitated by Canadian lending institutions under which an interest-free loan of up to $40,000 is made to a qualifying small […]
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In light of Covid-19, many employees have had to work from home for a large portion of the 2020 calendar year. Therefore, there is the possibility for employees to claim a home office deduction in calculating their 2020 personal taxes. Ordinarily, if an employee maintains an office in their home, the employee could deduct certain […]
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COVID-19 has influenced all businesses, changing the very landscape of how we interact on a professional and personal level. In many cases, small businesses have borne the brunt of these changes. The Canadian Federation of Independent Business estimates that a total of $117 billion of new debt has been loaded onto small businesses as a […]
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Fraudsters continue to devise new ways to separate Canadians from their hard-earned cash, with more than 20,000 reports involving more than $43 million in losses in 2019. Staying vigilant is difficult when new scams are appearing every day. The Chartered Professional Accountants of Canada have detailed the most common scams to watch out for here. From social insurance numbers to email transfer requests, prepare for everything with […]
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Keeping all staff members employed is one of the biggest preoccupations for companies these days. The combination of labor shortages and COVID-19 makes it clear that we can’t afford to lose our valuable teams. Here are a few reminders of best practices you can implement to keep your colleagues on the job. FOR TEAMS WORKING […]
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On June 25, 2020, the CRA posted a tender notice asking for assistance so that CRA would be able to mine the data of Canadian residents who purchase, sell or transfer U.S. real estate. The goal for CRA is the ability to sort through bulk information including historical records, mortgage transactions, property taxes, real property […]
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Extra 8 weeks available – CERB extended from 16 weeks to 24 weeks for workers who: stopped working due to COVID-19 or are eligible for Employment Insurance regular or sickness benefits or have exhausted their Employment Insurance regular benefits or Employment Insurance fishing benefits between December 29, 2019 and October 3, 2020. For more information, visit […]
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