Belmonte Léger SEP
8535 Boul. St-Laurent H2P2M9 Montreal, QC, Canada

Employer reimbursements of commuting costs and home office expenses: . Commuting Costs Where an employee is reimbursed or receives a reasonable allowance from their employer for travel expenses associated with travelling from home to their regular place of employment during the pandemic, the CRA will not consider this to be a taxable benefit. .... Parking Costs Employer-provided parking at the employee’s regular place of employment will not be considered a taxable benefit by the CRA where the regular place of employment is closed during the COVID-19 pandemic. . Home Office Equipment It appears that the CRA is expanding its previous position (2020-0845431C6 (F)) on employer reimbursements of personal computer equipment. In the webinar, the CRA states that employer reimbursements of up to $500 of home office equipment or computer equipment will not be a taxable benefit, provided the equipment is needed for the employee to perform his/her duties of employment at home. CRA indicates home office equipment would include items such as desks or chairs. . Source & more information regarding CEWS https://bit.ly/3oC3yJ9 . Version Française https://bit.ly/3kDWPvU . #cews #officeexpenses #cpa #covid19 #parkingcosts #commutingcosts #homeoffice #october2020 See more

What is the role of the liquidator of a succession? Designated to fulfill the obligations of a deceased person or to liquidate a succession . Liquidators of a Succession (Steps to Follow After a Death) If you are designated the liquidator of a succession, you serve as the deceased's representative with Revenu Quebec while the succession is being settled.... . Your obligations As the liquidator, you must do the following to meet your tax obligations: Inform Revenu Quebec of the date of death. Register as liquidator of the succession. File the deceased's income tax return(s). Request a certificate authorizing the distribution of succession property. Distribute the succession's property. . Version Française https://bit.ly/3jAWd92 . #taxes #incometax #sucession #liquidators #taxobligations #taxinformation #taxreturn See more

News Release: October 26, 2020 From The Department of Finance Canada The Government of Canada is providing continued support to small business owners and entrepreneurs to help them adapt and position their businesses for recovery. . Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland announced that as early as October 26, 2020, the Canada Emergency Business Account (CEBA) will be available to businesses that have been operating out ...of a non-business banking account. . To be eligible, businesses must have been operating as a business as of March 1, 2020, must successfully open a business account at a Canadian financial institution that is participating in CEBA, and meet the other existing CEBA eligibility criteria. The deadline to apply for CEBA is December 31, 2020. . CEBA is part of the Government of Canada’s economic response plan to help Canadians and Canadian businesses deal with the COVID-19 pandemic. The measures under this plan are helping businesses keep their doors open, keep their employees on payroll, protect the jobs that Canadians depend on, and recover quickly when the time comes. . Version Française https://bit.ly/35CWK5s . #ceba #newsrelease #canadianbusinesses #covid19 #smallbusinesses #entrepreneurs #businessowners See more

If you carry on commercial activities in Québec and your business income and the business income of your associates exceeds $30,000, you must register for the GST/HST and QST. If your business income and the business income of your associates does not exceed $30,000, see Details Concerning Small Suppliers. https://bit.ly/2FUYCOj . Depending on the nature of your business activities, other taxes and measures may also apply to you. Source deductions... Corporation income tax Consumption taxes: - GST/HST and QST - Specific duty on new tires - Tobacco tax - Specific tax on alcoholic beverages - Tax on lodging - Fuel tax - Tax on insurance premiums - Municipal tax for 9-1-1 service . How to register your business https://bit.ly/3milQNS . Learn More https://bit.ly/3mlzXC5 . Version Française https://bit.ly/2J1vzK7 . #taxes #startup #businessincome #businessactivities #taxlaws #taxinformation #comsumptiontaxes See more

Advance payments of the tax credit for childcare expenses and the work premium tax credits. . Revenu Quebec will no longer mail you paper forms to renew your advance payments of the tax credit for childcare expenses or the work premium tax credits. . You must therefore apply online for 2021 in "My Account for individuals" or file the appropriate paper form available on Revenu Quebec's website.... . You must file your application by December 1, 2020, to receive 12 payments in 2021. . Version Française https://www.revenuquebec.ca//ac/details/167726/2020-10-22/ . #taxcredits #childcareexpenses #Quebec #taxlaws #taxnews #taxupdates #october2020 See more

If you are a salaried tradesperson, you may be entitled to claim a deduction for tools you purchased to earn employment income. . If you are an eligible apprentice mechanic, you may also claim an additional deduction for the tools purchased. . To claim these deductions, you must meet the following conditions:... Your employment contract stipulates that you are required to supply tools in the course of your employment. The cost of the tools was not reimbursed to you and does not entitle you to a reimbursement. . For more information, see point 6 in the instructions for line 207 in the guide to the income tax return (TP-1.G-V) or consult guide IN-118-V, Employment Expenses. . QST rebate If you deduct such expenses from your employment income, you may be entitled to a QST rebate. . Version Française https://bit.ly/2HtOs7t . #deductions #expenses #taxes #incometax #qst #tradesperson #taxreturn See more

Business Outlook Survey Autumn 2020 With many containment measures related to the COVID19 pandemic being lifted, results from the autumn Business Outlook Survey suggest that business sentiment has improved but remains weak across all regions. Businesses expect the pace of the recovery in their sales to slow. . Business sentiment has improved across all regions but remains negative. Sales grew at a slower rate in the past 12 months... Firms expect their sales to increase from low levels Firms intend to keep capital expenditures at the same level Credit conditions have eased Hiring plans remain modest Capacity pressures have risen due to pandemic-specific constraints With improved demand, reports of labour shortages have increased Wage growth is expected to slow Firms expect a slightly faster pace of input price growth Output prices are expected to grow at the same rate as over the past 12 months Inflation expectations rebounded somewhat . Full article with charts https://bit.ly/2HgSHnk . Version Française https://bit.ly/2FK6z8O . #bankofcanada #businessoutlook #businesssurvey #autumn2020 #canadianbusinesses #canadianfirms #financeandeconomy See more

Update: International tax guidelines updated Section I.-A has been updated to clarify that the CRA will generally view the Canadian government’s recommendation to Canadians to return to Canada as a Travel Restriction . Section III.-D. has been added to address the situation that may arise if a non-resident employee of a non-resident employer travelled to Canada for personal reasons and, as a result of the travel restrictions, was unable to return to their country of... residence. If the non-resident employee performs their duties of employment remotely while in Canada, the non-resident employer would be subject to Canadian withholding, remitting, and reporting obligations. . Non-essential travel remains restricted until at least November 21st. . More Information https://bit.ly/3o7ujVG . Version Française https://bit.ly/37opvFw . #taxlaws #travelrestrictions #canadians #taxguidelines #nonresident #taxes #internationaltax See more

Here's everything you need to know about the CRB including how it will affect your taxes Earlier this week, the government began accepting applications for its newest program, the Canada Recovery Benefit (CRB) for self-employed workers and workers not eligible for Employment Insurance. . How is the CRB taxed? Like the CERB, the new CRB is taxable, but, unlike the CERB, the government is withholding a flat 10 per cent tax at source from each CRB payment. This means that... some of the $500 benefit amount will be withheld by the CRA before you get your payment, and will be credited against any income tax you need to pay for the year. The amount of tax you will actually owe, however, will depend on your total income for the year as the CRB will simply be added on top of your other income and taxed your marginal tax rate. . As for the clawback of the CRB, recipients will be required to repay $0.50 of the CRB back for every dollar in net income earned above $38,000 (excluding the CRB itself) up to a maximum repayment of the CRB received in the year. Amounts repaid are not included in your taxable income. This calculation will be reconciled when you file your 2020 tax return next spring and the repayment will be incorporated in your total payable (or reduce any tax refund). . Full Article https://bit.ly/3dwEEpe . #taxes #taxlaws #crb #selfemployed #cerb #incometax #taxreturn #october2020 See more

If you're a new driver who transports passengers for remuneration for a transportation system operator under agreement, such as Uber and Eva, you can use Revenu's Quebec new simplified service to register for the GST/HST and QST. It's fast and easy! . The term transportation system operator under agreement refers to: a person who oversees registered drivers and vehicles and who has entered into an agreement with Revenu Quebec to respect government requirements regar...ding the GST/HST and QST; and suppliers who have entered into an agreement with Revenu Quebec and whose services have been retained by such operators. . Note that if you are already registered for the GST/HST and QST for another commercial activity, you do not have to register again. . As a driver for a transportation system operator under agreement, you must: be registered for the GST/HST and QST before you make your first trip; report the GST/HST and QST that the operator collects for you. . In addition, operators must: collect the GST/HST and QST on services their drivers provide; remit the taxes collected for their drivers . More information https://bit.ly/33XhC7Y . Version Française https://bit.ly/3lPOOo1 . #taxlaws #taxes #quebec #uberdrivers #newsrelease #gst #qst #salestax See more

Update: CEWS & CEBA The extension of the Canada Emergency Wage Subsidy until June 2021. The subsidy would remain at the current subsidy rate of up to a maximum of 65 per cent of eligible wages until December 19, 2020. . An expanded Canada Emergency Business Account (CEBA), which would enable businesses, and not-for-profits eligible for CEBA loans to access an interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000. Half of this additional... financing would be forgivable if repaid by December 31, 2022. Additionally, the application deadline for CEBA is being extended to December 31, 2020. Further details, including the launch date and application process will be announced in the coming days. An attestation of the impact of COVID-19 on the business will be required to access the additional financing. . More Information https://www.cpacanada.ca//p/2020/march/cra-covid19-updates . Version Française https://www.cpacanada.ca//20/mars/covid-19-cpa-soutien-arc . #cews #ceba #newsrelease #canadianbusinesses #wagesubsidy See more

On behalf of our entire Belmonte Léger family we wish you a Happy Thanksgiving! We want to thank you for your continued love and support! . Thankful & Grateful today and everyday! . #happythanksgiving #october2020 #thankful #grateful #family #givethanks #gratitude

Quebec to receive federal funding to support child care The Government of Canada has been working closely with the Government of Quebec to ensure all families have access to affordable and high-quality child care. The COVID-19 pandemic has created new challenges, including temporary closures and loss of critical revenue from placement fees, which have put the sector at risk. . The Minister of Families, Children and Social Development, Ahmed Hussen, announced $137 million i...n federal support for Quebec’s child care sector to help ensure that safe and sufficient child care spaces are available to support parents’ gradual return to work. . This funding is part of a larger $625 million investment through the Safe Restart Agreement to address the key child care priorities agreed upon by Canada’s First Ministers for the safe restart of Canada’s economy over the next six to eight months. Along with the agreements under the Multilateral Early Learning and Child Care Framework, this investment means the Government of Canada will invest almost $1.2 billion to support child care in 2020-2021, a 67% increase over the next highest year in history, 2005-2006, when $700 million were announced. . Source of information https://bit.ly/2SImSpG . Version Française https://bit.ly/3lyNyoX . #childcare #quebec #newsrelease #federalsupport See more