Dental Tax
300-1100 Burloak Drive L7L6B2 Burlington, ON, Canada

The Bank of Canada interest rate remains unchanged at 0.25% which means that prime rate should also remain unchanged at 2.45%.

Happy Canada Day!!

More dental practices, especially newer practices, can now qualify for the CEBA $40K loan program with this announcement today! As well as support to pay rent in April, May, June Have questions? Reach out and happy to help... https://dentaltax.ca/covid-19

Good news for associate dentists today...Government announced "essential workers" who are making less than $2,500 per month will get a top up to help with loss of hours or decreased income due to COVID-19. If you were a student last year, you will also get access to the Emergency Response Benefit $2K/month because many of you didn't meet the initial $5,000 minimum income threshold for 2019. Details to be outlined by the Government "very soon" ... If you need help managing all these programs, please do reach out and schedule a time to talk with us.

$40,000 interest free loan program called the Canada Emergency Business Account available today!!!! Practice Owners, this is for you. Here's what you have to do...

Wage subsidy program and $40,000 interest free loan update for dental practices If you need help with these programs, schedule a time to chat with us: https://dentaltax.ca/covid-19/

How associate dentists can get financial support during COVID-19

How practice owners can get FREE financial support during COVID-19

Emergency Response Benefit announced today (March 25th) to help dentists who aren't receiving an income right now. Benefit: $2,000 per month for 4 months. Applications will start on April 6th, 2020. More details to come. If you need help applying for these programs, schedule a time here:... dentaltax.ca/covid-19 We'll chat about: 1. How much cash you have in the bank and how long it will last before you go broke 2. What financial support is available to you 3. How to apply for these programs This is a virtual meeting of course via Zoom, schedule a time here: dentaltax.ca/covid-19

Today, Ontario and Quebec formally issued statements that Dental offices are considered essential workplaces that are to remain open for emergency treatment only. The same is likely to be issued across the country as well. Why is this announcement today important for practice owners?... That means that pandemic coverage insurance that many of you have through CDSPI or other carriers won't pay the daily benefit. Many Dentists are lobbying to get paid during this pandemic but for now, don't rely on it. And many cannot perform emergency treatment due to the strict safety measures introduced that weren't previously required, such as N95 masks. What kind of business contingency planning are you doing to mitigate this pandemic? https://s3.amazonaws.com//list-of-essential-workplaces-2.h

Instead of an April 30 filing deadline for the 2020 tax filing season, Canadians will have until June 1 to submit their income tax return to CRA. The deadline to pay off any outstanding balances interest-free will also be extended, this time to September 1st.

https://www.cbc.ca/news/business/bank-of-canada-1.5497098