Canada Emergency Rent Subsidy (CERS) Update: Applications Now Open

Bill C-9, which incorporates the new Canada Emergency Rent Subsidy (CERS), received Royal Assent on November 19th, 2020. Read the full news release from the Canada Revenue Agency (CRA) here. The application site is now open for applications. Apply here. To calculate your Canada Emergency Rent Subsidy (CERS) amount, click here. For more information about […]

Employee Home Office Expenses

This article is from the quarterly Canadian Overview, a newsletter produced by the Canadian member firms of Moore North America. These articles are meant to pursue our mission of being the best partner in your success by keeping you aware of the latest business news. In light of COVID-19, many employees have had to work […]

The Real Cost of Buying Luxury Cars in B.C.

Having built a successful career or business, many high-income earners like to reward themselves by purchasing a luxury car.  However, the true-cost of buying a luxury car in British Columbia can be 2 to 3 times the sticker price of the car once you consider the impact of personal income tax on your earnings, and […]

Summary of the Federal Government’s COVID-19 Financial Support

Here is an up-to-date summary of the financial support offered by the federal government through Canada’s COVID-19 Economic Response Plan. SUPPORT BENEFITS New Recovery Benefits With Bill C-4 receiving Royal Assent, following the federal government’s Throne Speech commitments, more details have emerged on how new COVID-19 recovery benefits will be implemented. Subsequently,  three new temporary recovery benefits have […]

New Canada Emergency Rent Subsidy (CERS)

On November 2nd 2020 , the Federal Government announced detailed rules related to the new Canada Emergency Rent Subsidy (“CERS”) program that subsidizes businesses that have experienced a drop in revenues.  The subsidy  is based on (i) qualifying rent expenses if a renter or (ii) qualifying holding period costs (including interest on mortgage financing) if […]