Fiscal Performance Inc.
126 King Street West, Unit 1 L8G 0A9 Stoney Creek, ON, Canada

Did you get an email from the CRA?

If your account is locked tomorrow - steps from the CRA to regain access.

Heads up: The Canada Revenue Agency will be locking out 800,000 users from their online accounts on Saturday.

Herb was a second father to me and to the entire Fiscal Performance Team. Please join us as we Celebrate his memory on Jan 30th!

Happy New Year! We wish you all a very happy, healthy, safe, and prosperous 2021. Cheers!

We remember. Not just today. But every day. #LestWeForget To the men and women who made the ultimate sacrifice so that future generations could live free, and to those who presently serve so we can enjoy our hard won peace, it is with utmost respect and gratitude we say THANK YOU. You will not be forgotten.

Snuggle in and enjoy your extra hour of sleep this weekend! Don't forget to set your clocks back one hour starting at 2 a.m. Sunday, November 1.

May your day be sweet and safe! Trick or Treat! Happy Halloween!

Our online services are now available. Thanks for your patience!

Due to routine system maintenance, CRA’s My Business Account and Represent a Client will not be available from Friday, October 16, at 11 pm to Monday, October 19, at 6 am ET. You can still apply for the CEWS using the Web Forms application during this time. http://ow.ly/Z5pS50BUrYd

Eligible employers can apply today for period 6 of the Canada Emergency Wage Subsidy (CEWS). Changes have been applied to the program (more employers can now qualify), and it has now been extended to November 21, 2020. But most importantly, how the subsidy is calculated has been updated your subsidy rate will vary depending on how much your revenue dropped. You can read more about the program here: https://www.canada.ca//services/subsidy/emergency-wage-sub... Changes to the program are outlined here: https://www.canada.ca//emergency-wa/cews-what-changes.html You can calculate your subsidy amount here: https://www.canada.ca///cews-calculate-subsidy-amount.html The qualifications and calculations might seem overwhelming were here to help. Reach out to Fiscal Performance today for assistance on applying for the CEWS today.

The Canada Emergency Commercial Rent Assistance (CECRA) July and August extension is now available. But you must submit your application today, August 31, 2020. If you have been previously approved for the months of April, May and June, you must opt in for the months of July and August by September 14, 2020. The Canada Mortgage and Housing Corporation (CMHC) will administer the program on behalf of the Government of Canada (and provincial and territorial partners). ... Learn more about the application process, opt in process, and further program details here: https://www.cmhc-schl.gc.ca///covid19-cecra-small-business Do not hesitate to reach out to Fiscal Performance with any questions you may have regarding the COVID-19 relief programs, or for any reports and information you may need in order to apply for them.

Owners...something to consider...!

The CRA online services are back up and running.

While the My Business Account online service is running, the remaining My Account and Represent a Client are still offline. The CRA will be sharing updates on Facebook and well update you once we learn more as well.

As the CRA My Business Account is back up and running, eligible employers can now apply for period 5 of the Canada Emergency Wage Subsidy (CEWS). Changes have been applied to the program (more employers can qualify), and it has now been extended to November 21, 2020. Most importantly how the subsidy is calculated has been updated. You can read more about the program here: https://www.canada.ca//services/subsidy/emergency-wage-sub Changes to the program are outlined here: h...ttps://www.canada.ca//emergency-wa/cews-what-changes.html You can calculate your subsidy amount here: https://www.canada.ca///cews-calculate-subsidy-amount.html The qualifications and calculations might seem overwhelming were here to help. Reach out to Fiscal Performance today for assistance on applying for the CEWS today.

Were working to resolve the issue, thanks for your patience. We anticipate that our online portals will be available once again in the coming days. Please stay tuned for updates. Well post here on Facebook.

Hi there! Everyone who was impacted by the cyber security attacks will be contacted by us with a letter with next steps. Heres info on what to expect when we contact you: http://ow.ly/c2G850B1Tuh

UPDATE: The My Business Account online CRA service is now up and running.

IMPORTANT NOTICE: The CRA has shut down its online services to contain a recent cyberattack. My Account, My Business Account and Represent a Client on the CRA website have been disabled temporarily. Unfortunately, this means that anyone attempting to apply for an emergency COVID-19 benefit, such as CERB, will be unable to do so until further notice. The CRA has said that about 5,500 accounts have been affected by the two attacks. They have identified the impacted accounts and have disabled access to them. Those affected will receive a letter from the CRA explaining how to confirm their identity to regain control of their account.

Our online services are currently unavailable. Were working to restore them and will provide updates as soon as they are available. Thank you for your patience.

In the coming weeks, updates will be made to the Canada Emergency Response Benefit (CERB), including the transition of everyone on CERB to EI, and a new benefit similar to EI. We will update you as we learn more.

From our family at Fiscal Performance, to yours, we wish you all a relaxing Civic Holiday long weekend!

It has been announced that the Canada Emergency Commercial Rent Assistance (CECRA) program has been extended to cover small business rent for August. Check out their site for further details: http://ow.ly/Wyhy50ANBIX

Are you not eligible for any of the federal COVID-19 relief programs? Have you heard of the Regional Relief and Recovery Fund (RRRF)? The six Regional Development Agencies across Canada have come together to create a relief fund for those small businesses that require help to recover from the COVID-19 pandemic, but have been unable to access the existing federal government support programs. Each province will be separately administered, for full details you can visit your ...local Regional Development Agency here: http://www.ic.gc.ca/eic/site/icgc.nsf/eng/h_07682.html The program guidelines (for Southern Ontario) are available here: https://www.feddevontario.gc.ca//site/72/eng/h_02581.html FAQs are available here: http://www.feddevontario.gc.ca//si/723.nsf/eng/02585.html and here from the CFIB: https://www.cfib-fcei.ca//covid-19-frequently-asked-questi

The CRA has further extended the payment deadline for 2019 tax returns to September 30, 2020. If you make your payment by the extended date you will not be charged penalties or interest. This also includes the late-filing penalty as long as your return is filed also by September 30. But it is recommended you file your return as soon as possible as it may affect your credits and benefits (such as the Canada Child Benefit). Visit the CRAs website for further details: http://ow.ly/lFYY50AJokX

See what support programs are available for your business, then reach out to Fiscal Performance for help applying for them. Check out the Business Benefits Tool which can provide you with a list of #GoC supports for your business. Answer a few questions for a list of programs tailored to you. http://ow.ly/hEqz50AKs4q

While the deadline to pay your 2019 taxes has been extended to September 30, its important to file as soon as you can. Those receiving benefits and credits need to file before September to keep getting payments, and to avoid possible repayments. Make sure you have all the details from the CRA: http://ow.ly/lFYY50AJokX

Many business owners and/or managers struggle to keep their financials in order and up-to-date. You may be doing your own, or attempting to, and not necessarily living up to your own expectations. The team at Fiscal Performance will create a custom training package that deals with your reality and goes beyond the generic accounting courses offered by private and community colleges. Our staff will show you, or your staff, how to do it right and avoid the pitfalls that can undermine your business Talk to us today to see how we can help get you on the right track.

The provincial government has announced that more regions of Ontario can begin opening in Stage 3 on Friday, July 24, including our very own area Hamilton! This means that nearly all businesses and public spaces can gradually reopen, with strict public health and workplace safety restrictions in place. Its important we continue to physically distance with all people who are not from the same household or established social circle so we continue to move forward. Check out ...the reopening plan here: https://www.ontario.ca/page/reopening-ontario-stages Lets keep the reopening process moving in a positive direction for the good of our community, and so we dont risk losing all the progress weve made, as the fight against COVID-19 is far from over.

If you need to repay a CERB payment, you will required to repay to the department (CRA or Service Canada) that issued you the payment. Since the CERB is taxable, you can expect to receive an information slip indicating the total amounts of CERB payments you received in 2020. You will not receive an information slip for the payment(s) that have been repaid prior to December 31, 2020. For info visit: http://ow.ly/F8T850AD155

Applying for COVID-19 relief programs? Check out this video from the CRA on how to sign up for My Account. It makes the application process easier, and you can also use to check on your taxes and benefits going forward. Have a business? We can help you set up a My Business account for all your CRA interactions.

With more Canadians accessing relief programs during COVID-19, scam calls and texts have risen. The CRA never asks threatens to arrest you, or asks for payment in cryptocurrency such as Bitcoin, or gift cards such as iTunes. Heres how to identify a scam: http://ow.ly/tQ6p50wgsnp Stay safe and be aware!

Bill C-20, introduced by the Liberal government to change the Canada Emergency Wage Subsidy program was passed by the House of Commons by unanimous consent. The revised program will be extended until November 21, with the intent to further extend support until December 19, 2020, and will be accessible to a broader range of employers, including those with a revenue decline of less than 30 percent. Applications are still being accepted for the original CEWS claim periods yo...u can apply through your CRA My Business account. Contact Fiscal Performance today to learn if you qualify, and to get the information and reports youll need to apply. More information on the program is available here: https://www.canada.ca//services/subsidy/emergency-wage-sub https://www.canada.ca//adapting-the-canada-emergency-wage- https://www.canada.ca//supporting-canadian-workers-and-bus

Have you made a CERB repayment? Log into your CRA My Account to see if its been received.

Dont forget: you can now apply for period 5 of the CERB program, if youre still unable to work due to COVID-19. Apply here http://ow.ly/P5yB50AwP0Y Give Fiscal Performance a call if have any questions about the Canadian COVID-19 relief programs.

Did someone ask you to repay CERB or CEWS? Beware of fraudulent emails, texts or calls claiming to be from us. Heres how to tell the difference between a scam and legitimate communications from the CRA: http://ow.ly/SS6650AthD4 Give Fiscal Performance a call if you have any questions about communication from the CRA you have received.

A business without a plan is like a ship without a destination. At Fiscal Performance our team of highly trained professionals will help you optimize your business financials. We can help you meet your goals and aspirations by setting realistic and achievable targets that mirror your capabilities. Talk to us today to see how we can help with your strategy.

It has been announced that the Canada Emergency Wage Subsidy (CEWS) program will be extended to December 2020. Further details have not yet been provided, and the CEWS website has not been updated to reflect this extension. Its possible that the government will further reshape the eligibility rules for the program as more details have been promised we will update you once we learn more. In the meantime, applications are being accepted for the original CEWS claim periods ... you can apply through your CRA My Business account. Contact Fiscal Performance today to learn if you qualify, and to get the information and reports youll need to apply. More information on the program is available here: https://www.canada.ca//services/subsidy/emergency-wage-sub

The provincial government has announced that most regions of Ontario can begin opening in Stage 3 on Friday, July 17. Unfortunately at this time this does not include our very own area Hamilton. But this means that nearly all businesses and public spaces can gradually reopen as regions enter Stage 3, with strict public health and workplace safety restrictions in place, while some high-risk venues and activities will remain closed until they can safely resume operations. Ga...thering limits will still apply to higher risk settings and activities. Its important we continue to physically distance with all people who are not from the same household or established social circle so we continue to move forward, and not backwards, as the fight against COVID-19 is far from over. Check out the reopening plan here: https://www.ontario.ca/page/reopening-ontario-stages The Chief Medical Officer of Health and health experts will continue to closely monitor, and to advise when public health restrictions can be gradually loosened or if they need to be tightened.

Gentle Reminder...do not give out your SIN over the phone!

The Canada Emergency Commercial Rent Assistance (CECRA) has been extended through the end of July 2020. But it is important to note that: Only those tenants approved in the April, May and June application are eligible for the July extension. If a business had an average revenue decline of 70% or more in April, May and June, they are deemed eligible for the additional month of rent relief. However, not all tenants in the original application need to be included for the Ju...ly extension. The Canada Mortgage and Housing Corporation (CMHC) will administer the program on behalf of the Government of Canada (and provincial and territorial partners). Learn more about the application process and further program details here: https://www.cmhc-schl.gc.ca///covid19-cecra-small-business Do not hesitate to reach out to Fiscal Performance with any questions you may have regarding the COVID-19 relief programs, or for any reports and information you may need in order to apply for them.

Business owners absolutely carry a lot of stress Never has a truer statement been spoken. One of the number one causes of stress for business owners is their finances. Let us help take that stress of your plate with quality bookkeeping services, and high-level advice from Tracy Khamis, a certified DFA-Bookkeeping Services Specialist. Call Fiscal Performance today! And be sure to check out this post from the BDC with 3 steps to manage stress and build resilience.

Period 4 of the Canada Emergency Wage Subsidy opened today - Wednesday, July 8. You can apply online through your CRA My Business Account. Give Fiscal Performance a call with any questions regarding your application, or eligibility.