https://liveyourbiglife.ca/wp-content/uploads/2020/12/Highlights-of-the-2020-Federal-Fall-Economic-Statement@1000px.png 563 1000 Live Your Big Life https://liveyourbiglife.ca/wp-content/uploads/2020/07/websiteLogo2-300x81.jpg Live Your Big Life2020-12-07 15:42:082020-12-07 17:12:58Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now
Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now
Finance Minister Chrystia Freeland recently provided the government's fall economic update. It included information on the government's strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We've summarized the highlights for you: • Corporate Tax Changes, including extensions to subsidy programs. • Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new "Work from home" tax credit. • Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields. For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.
https://liveyourbiglife.ca/wp-content/uploads/2020/12/Personalemail@example.com 563 1000 Live Your Big Life https://liveyourbiglife.ca/wp-content/uploads/2020/07/websiteLogo2-300x81.jpg Live Your Big Life2020-12-02 14:07:542020-12-02 15:27:56Personal Tax Planning Tips – End of 2020 Tax Year
Personal Tax Planning Tips – End of 2020 Tax Year
To help our clients, we’ve put together a comprehensive article filled with great tips on how to get ready for 2020 tax season. Here’s a summary of our personal tax tips article: • Details about the different COVID-19 benefits programs and the tax ramifications of them • Information about family tax issues including the Canada Child Benefits and tips on how to split income. • Managing investments. Details about contributing to various savings plans such as a TFSA, RESP, or RDSP. Also tips on how and when to donate to charity and how to time the purchase or sale of investments. • Retirement planning. How to make the most of your RRSP, things to know if you’ve turned 71, and tips on RRIF conversion.