Marr & Company Chartered Professional Accountant
132 Main St N T4B 0R3 Airdrie, AB, Canada

TAX PREPARER NEEDED: Marr & Company is looking for an experienced personal tax preparer. This is a seasonal position beginning February 22 to April 30, 2021. The successful candidate will have several years experience in filing Canadian personal tax returns that include employment income, self-employment income, rental income, farm income and investment income along with preparing GST returns. Experience with Intuit Profile is also an asset but not necessary. This position will require you to work in the office and from home. Please send your resume to [email protected]. Thank You!

In 2019 the average Canadian Family earned $91,535. They paid almost $40,000 in tax on that income.

A few years ago the government started requiring taxpayers to record all property sales on their personal tax returns, even non taxable sales of principal residences. The federal government is now doing research through the CMHC into taxing principal residences. It appears that taxing the sale of personal residences is on the horizon.

***Alberta Grant for Small Business*** If your business had a drop in income of at least 50% in April or May due to COVID, you're eligible to apply. Your business can receive 15% of Pre-COVID monthly revenue up to a max of $5,000. Apply at Alberta.ca.

Reminder: Personal Tax is due June 1. File now to avoid penalties!

*** Canada Emergency Student Benefit*** - Provides $1,250 per month to recent graduates and post secondary students for May, June, July & August. - students who qualify for CERB should apply for CERB instead as the CERB provides $2,000/month in funding - Students can earn up to $1,000 per month while receiving the CESB - no application is available yet... https://www.canada.ca//support-for-students-and-recent-gra See more

***Canada Emergency Commercial Rent Assistance*** - in order to qualify the tenant must have had at least a 70% drop in revenues - in effect the government pays 50% of rent while the tenant pays up to 25%. The landlord only collects a maximum of 75% of rent. Landlords may not agree to participate in this as they are choosing to accept a maximum of 75% of the rent that they are entitled under the lease provisions. - If your business has had at least a 70% drop in revenues, co...ntact your landlord to see if they are willing to consider this program. https://www.cfib-fcei.ca//cfib-statement-canada-emergency-

COVID UPDATES: You can now receive up to $1,000 in income from part time work while receiving the CERB. Don't forget that income from dividends now counts towards qualifying for the CERB. The $40,000 loan is now available to businesses with $20,000 to $1.5M in payroll in 2019. This loan can't be used to pay off pre-existing debt, for investments, or to pay for shareholder draws or expenses though. It must be used for non-deferrable expenses like wages, supplies, machinery, etc.