Claiming work-from-home expenses
The Canadian Chamber of Commerce and their member 'The Canadian Payroll Association' created a Q&A document that answers commonly asked questions about the simplified process for claiming working-space-in-the-home expenses on your 2020 tax return.
Some questions addressed include:
What does this mean for payroll?
What is considered a working day for the $2 per day calculation?
What about situations where the employer did not require the to work from home, but allowed it upon request?
Can an employer refuse to sign a T2200/T2200S form?
In addition, the Q&A
January 15, 2021
Apply now for Ontario Small Business Grant
Ontario Small Business Support Grant
Applications are open for the new Ontario Small Business Support Grant, which helps small businesses that are required to close or significantly restrict services under the Provincewide Shutdown effective December 26, 2020.
What you'll get
Starting at $10,000 for all eligible businesses, the grant provides businesses with funding to a maximum of $20,000 to help cover decreased revenue expected as a result of the Provincewide Shutdown.
The business must demonstrate they experienced a revenue decline of at least 20 per cent when comparing
January 15, 2021
What does the stay-at-home order mean?
The recent stay-at-home order issued by the Province of Ontario on Tuesday, January 12, effective as of Thursday, January 14, came with a lot of questions. The Premier made a statement saying that everyone who can work at home, must work at home, and everyone can only travel for essential purposes, such as going to the grocery store, pharmacy, health care appointments and services, exercising outdoors or essential work.
What does that mean?
In a report updated on Wednesday, Jan. 13, CTV news asked some of those questions.
What is considered an essential trip?
January 13, 2021
Province declares second State of Emergency
Ontario is issuing an order requiring residents to stay at home starting Thursday, January 14, except for essential activities such as accessing health care, shopping for groceries, essential work for for outdoor exercise.
The enhanced public health and workplace safety measures are in effect for all of Ontario and are anticipated to be in place until at least Thursday, February 11, 2021.
The premier announced the restrictions following new projections that show the virus is on track to overwhelm Ontario's health-care system.
"The latest modelling data shows that Ontario is in
January 12, 2021
Need help creating your business video?
CLICK HERE to read more about the video contest for locally-owned businesses with more than $25,000 in prizes to be awarded in three categories. Deadline for submissions is Feb. 4, 2021.
January 8, 2021