Effective January 1, 2024, payments over 10,000$ must be remitted electronically, meaning either by online banking or by payment directly from a financial institution, and this is for both Canada Revenue Agency and Revenu-Québec. This rule only applies to businesses and not personally. Payments of over 10,000$ made by cheque
Dear Clients and Friends, The Canada Emergency Business Account (CEBA) program offered interest-free loans of up to $60,000 to small businesses and not-for-profits. CEBA loans were available from more than 220 financial institutions across the country. For eligible CEBA loan holders in good standing, repaying the balance of the loan
The Tax-Free Savings Account (TFSA) contribution limit will increase to $7,000 (from $6,500) for 2024. This new limit means that a taxpayer who has never contributed to a TFSA and has been eligible for one since its inception will have a cumulative contribution room of $95,000. Years TFSA contribution