AMLB CPAs and Consulting

Looking forward to sharing our thoughts with entrepreneurs and business owners at this upcoming complimentary RBC advice event: Evolve your financials - power up your business with cloud computing Date : Sept 15, 2020 Time : 11:00 a.m - 11:45 a.m. Registration: https://services.rbc.com/EventRegistration/?event=2213... Hope to see you there! #advice #cloudcomputing

Canada's Finance Minister announced significant changes and details regarding the Emergency Wage Subsidy (CEWS), which are in the draft legislative stage. The changes address recommendations from stakeholders to enhance the design of the CEWS program. Although the new calculation methodology appears to be more nuanced and flexible to address a variety of scenarios, it also appears the calculation is now more complicated. Some highlights of the proposed changes:... - CEWS program extended to December 19, 2020. - Employers with even a 1% decline in revenue are now eligible for the subsidy starting July 5, 2020. The revenue decline threshold in the prior 3 periods was 30%; if an employer did not meet this threshold, it would not receive any subsidy. - The subsidy amount available for an employer is now proportional to its level of revenue decline. - For employers experiencing greater than 50% revenue declines, an additional top-up is available. Of course, all this just in time to give us some exciting weekend reading of draft legislations :) https://www.canada.ca//adapting-the-canada-emergency-wage-

Government support programs for businesses impacted by the pandemic are changing weekly (sometimes daily!). We've updated our brief summary of programs to reflect changes announced as of yesterday: https://www.amlb.ca/covid-19-updates/

We have all been humbled by the Pandemic. In many ways, it has struck a serious blow to our psyche, confidence, and way of life. Despite all the doom and gloom, we have recently noticed renewed vigor in our clients. Their optimism, creativity, and sheer perseverance are inspiring, and we are more focused than ever on fighting alongside them so they survive and come out even stronger on the other side. How are we doing this? - Knowing in-depth all the government support progra...ms and calculations - Updating cash flow and financial plans to strengthen balance sheets - Looking ahead using strategic tax planning to improve financial health - Digitizing financial and accounting operations to allow for real-time remote collaboration, anytime, anywhere We are grateful for the opportunity to continue fighting the good fight and to be there for the small business community when it matters. To this end, we are sharing a summary of key government programs that we have distributed to clients. Feel free to use and share with others. If you have questions or comments, please comment or message us directly and we will do what we can to help. https://www.linkedin.com//amlb_lets-fight-this-together-ac