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News release January 12, 2022 – Ottawa, Ontario – Department of Finance Canada The Canada Emergency Business Account (CEBA) program has provided interest-free, partially forgivable loans to nearly 900,000 small businesses and not-for-profit organizations to help them navigate the pandemic and remain resilient. However, the Omicron variant has delayed the recovery

It is important for taxpayers to understand the tax consequences of their cryptocurrency transactions and to ensure that they comply with applicable tax obligations. Failure to do so can result in heavy penalties, and even penal or criminal charges in some circumstances. The Canada Revenue Agency (CRA) has put together

On December 16, 2021, Bill C-2 was enacted and Local Lockdown Program was introduced which provides support to organizations subject to a public health restriction order. On December 22, 2021, Prime Minister Justin Trudeau extended the eligibility for this program. Here are the highlights. Targeted organizations Most organizations regardless of their

A new “luxury” tax could apply as of January 1, 2022 on the retail sale of new personal cars and aircraft with a retail sale price over $100,000 and new boats with a retail sale price over $250,000. Importing such “designated property” will also be subject to this tax. HOW