Stylistic Accounting Practice
4196 93 Street T6E5P5 Edmonton, AB, Canada

One-time payment of $ 600 support for Canadians living with disabilities, you have until September 25,2020 https://eur03.safelinks.protection.outlook.com/

One-time payment of $ 600 support for Canadians living with disabilities, you have until September 25,2020 https://eur03.safelinks.protection.outlook.com/

As the last eligibility period for receiving CERB is Sept. 26. the federal Employment Minister Carla Qualtrough has promised a seamless transition to the Employment Insurance program.

As of Aug 14, 2020, two cybersecurity incidents resulting in breaches to the agency's My Account, My Business Account and Represent a Client service.

Changes in wages Subsidy is starting from period 5

https://local.google.com/place

I wanted to share with you these useful links for the local small businesses https://local.google.com/place

"what will come after the CERB"?

Because the CRA understands that both individuals and businesses' financial difficulties due to the Corvid 19 Issue. The CRA is extending the payment deadline and applying relief to interest on existing debt. The payment due date for current year individual, corporate, and trust income tax returns, including instalment payments, was extended from September 1, 2020, to September 30, 2020. the late-filing penalty also waved as long as the return is filed by September 30, 2020. www.stylisticaccounting.com

CRA says that Canadians who still have not filed their tax yet, they have up to the end of Augst 2020. However, those who are filing their taxes in time in order for the CRA to review them by early September may face benefit payment delays. https://globalnews.ca//2-million-canadians-havent-filed-t/

Financial help if you are outside Canada Get a repayable loan to facilitate your return to Canada and to cover the cost of basic essential needs such as food, shelter and transportation while you work towards your return. The amount of these loans will be determined and approved on a case-by-case basis by consular officials. https://travel.gc.ca//financial-as/covid-19-financial-help

Business Loans for Women. AWE offers loans for women-owned businesses in Alberta to start or grow Their business. https://www.awebusiness.com/financing/

Proposed changes to the federal wage subsidy would open it to more businesses.

A new wage subsidy program would offer qualifying businesses a base subsidy that would vary according to how much revenue they lost. https://www.cbc.ca//politics/wage-subsidy-morneau-changes-

Dina spent over an hour and a half with me discussing all the tax implications of starting my own business. She listened to what I had to say and steered me in the right direction. A wonderful experience and highly recommended!

Were focused on keeping you safe as we restart our economy, as well as making sure you have all the help you need to get through these tough times. Watch my up...date on our governments response live: Alors quon commence à relancer léconomie, notre priorité est dassurer votre sécurité et de veiller à ce que vous receviez laide dont vous avez besoin pour traverser cette période difficile. Regardez en direct ma mise à jour sur notre réponse : See more

Great opportunity for new immigrants, who are looking for opportunities to open their own business.https://a4hc.ca/program-services/entrepreneurship/

What does the rent payable mean? The rent payable, as in the Canada Emergency Commercial Rent Agreement, means Government offers unsecured, forgivable loans to eligible commercial property owners. To who agreed to forgive their small business tenants for part of their monthly rent for April, May & June. However, the forgiven amount should not be less than 75% of their gross rent payables....Continue reading

Whether youre worried about covering your monthly expenses or paying your employees, weve got your back. Watch live for an update on how were helping busines...s owners across the country get through this difficult time: Si vous craignez de ne pas pouvoir payer vos factures mensuelles ou vos employés, nous sommes là pour vous. Regardez en direct notre mise à jour sur laide que nous offrons aux proprios dentreprise à travers le pays pendant cette période difficile : See more

Wage Subsidy Program is to Be Extended past June

The Eligible Employers who can apply for CEWS: The Canada Emergency Wage Subsidy (CEWS) is a wage subsidy program, available for a period of twelve weeks from March 15, 2020, to June 6, 2020, that will provide a subsidy of 75% of the eligible remuneration paid by and eligible entity (eligible employer) to each employee to a maximum of $847 per week. In order to qualify for CEWS, the eligible employer must have all of the following criteria... 1- Employers who have a payroll account number as before March 18, 2020. 2- Employes who have laid off or furloughed their employees and that was the situation for less than 14 days in the eligibility period, as long as they rehire them and their retroactive pay. 3- Employers who have experienced a decline in revenues, 15% -30% as follows: - Period 1, March 15 to April 11, 2020- 15%the revenue you earned in the corresponding month in 2019, or the average of the revenue you earned in January and February, 2020 - Period 2, April 12 to May 9, 2020 30% April 2020 over April 2019 April 2020 over average of January and February 2020 - Period 3, May 10 to June 6, 2020 30% May 2020 over May 2019 May 2020 over average of January and February 2020

1. What is the 10% Temporary Wage Subsidy for Employers? The 10% Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). If you are an eligible employer, but choose not to reduce your payroll remittances during the year, you can still calculate the 10% Temporary Wage Subsidy for Employers on remuneration paid from March 18, 2020, to J...une 19, 2020. At the end of the year, the CRA will pay the amount to you or transfer it to your next years remittance Note: Your subsidy calculation is based on the total number of eligible employees employed at any time during the three-month period. 1. How much is the subsidy? The subsidy is equal to 10% of the remuneration you pay from March 18, 2020 to June 19, 2020, up to $1,375 for each eligible employee to a maximum of $25,000 total per employer. 2. How do I calculate the subsidy? The subsidy must be calculated manually, either by you or whoever is responsible for making your payroll remittances. The CRA will not automatically calculate the allowable subsidy. 3. How will I receive the subsidy? You do not need to apply for the subsidy. You will continue deducting income tax, Canada Pension Plan (CPP) contributions, and Employment Insurance (EI) premiums from salary, wages, bonuses, or other remuneration paid to your employees, as you currently do. The subsidy is calculated when you remit these amounts to the CRA. 4. When can I start reducing payroll remittances? You can start reducing payroll remittances of federal, provincial, or territorial income tax in the first remittance period that includes remuneration paid from March 18, 2020 to June 19, 2020. 5. What if I dont reduce payroll remittances during the year? If you are an eligible employer, but choose not to reduce your payroll remittances during the year, you can still calculate the 10% Temporary Wage Subsidy for Employers on remuneration paid from March 18, 2020, to June 19, 2020. At the end of the year, the CRA will pay the amount to you or transfer it to your next years remittance 6.What if my business is closed? If you did not pay salary, wages, bonuses, or other remuneration to an eligible employee from March 18, 2020, to June 19, 2020, you cannot receive the subsidy, even if you are an eligible employer. Note: The Canada Emergency Wage Subsidy, which provides a 75% wage subsidy to eligible employers for up to 12 weeks, is a separate program. For more information on that program, see Canada Emergency Wage Subsidy. https://www.canada.ca//frequently-asked-questions-wage-sub

Many businesses that have had to close down don't qualify for the subsidy programs that came too late for those companies Too late for some businesses Some business groups say many firms don't qualify for the subsidy because of the rule on revenue loss. Others have had to close down already to avoid going deeper into debt.... "Many businesses that would have qualified for the wage subsidy had to make a decision to close their business before this program was up and running. Finally, there is the harsh reality that is if your business has been ordered to close to prevent the spread of COVID-19 and you aren't able to employ anybody, this subsidy will not save your business or your employees' jobs." The Canadian Federation of Independent Business (CFIB) said it expects about half of small businesses will apply for the wage subsidy. But many still aren't clear on how the program works and who is eligible. "Unfortunately, the subsidy has already come too late for some businesses, who are not currently in a position to rehire laid-off staff," CFIB president Dan Kelly said in a statement. "But with signs in some provinces that businesses may soon begin a phased approach to reopening, an ongoing wage subsidy may prove very useful in bringing back workers who have been laid off." Corinne Pohlmann, CFIB's senior VP of national affairs, said the wage subsidy will come too late for many businesses, since the emergency period began in mid-March and the subsidies won't arrive until May. "Most small businesses with no revenues coming in had to make some very difficult decisions early on in March. Not knowing whether the government would launch a program for which they would be eligible, and when it would be available, added to the confusion," she said. "Laying people off is not the only cost they face. Costs of rent, utilities, loans, car and equipment leases all add to the cumulative burden that has to be dealt with when trying to keep your business afloat. For some, cash flow has long ago run out and the only option is to take on new debt, if you can get it." Pohlmann said that if an employer laid people off in March, they would not be eligible as they had few or no employees during the pay periods to which the subsidy applies. "So for some, it is too late," she said. Businesses also can access a government-backed loan of up to $40,000, of which $10,000 is non-repayable. https://www.cbc.ca//polit/wage-subsidy-business-1.5546034

Financial help for the Canadians outside Canada:COVID-19: For Canadians, and Canadian permanent residents, who are outside Canada and thinking about returning home but have no available source of funds to return home due to the COVID19 crisis, Canada has announced the creation of the COVID-19 Emergency Loan Program for Canadians Abroad. The loan is meant to cover basic essential needs while they work towards their return. Each application will be assessed according to their s...pecific situation and needs. For More Details on how to apply.. https://travel.gc.ca//financial-as/covid-19-financial-help

Coming soon,...Canada Emergency Commercial Rent Assistant. This is the program that each of the small business owner is waiting for since the crisis of COVID 19 started .. We intend to introduce the Canada Emergency Commercial Rent Assistance (CECRA) program for small businesses that, will seek to provide loans and/or forgivable loans to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June.... Implementation of the program will require a partnership with provincial and territorial governments who are responsible for property owner-tenant relationships. More details will be available soon. https://www.canada.ca//depart/economic-response-plan.html

Because times have been rough and income has become unsteady from the #COVID-19 crisis, Stylistic Accounting has decided that from now on, if we provided you our services, you can defer your payment for said services until after the #quarantine is over. A reminder to all current or future customers: We are able to provide our services and do your taxes through online. Feel free to message us for more information.

Creating a CRA My Account is not hard to set up. First, before starting, make sure you have the following information in front of yourself before even start. 1-... Your social insurance number 2-Your date of birth 3-Your postal code 4-Your last two tax returns (T1 of the current year and the previous one. You will be required to enter an amount on a line number in one of your T1 Jackets, for an instant, Line 150, 101, 126...etc. I highly recommend you contact your accountant for more assistance. Second, proceed to the CRA My Account web page here. https://www.canada.ca//e-services/account-individuals.html Click on the CRA register button Enter your social insurance number, and click on Next. Validate your identity by completing all the required fields and then click Next. Create a user ID and Password Create security questions and answers on the next screen. By finishing the previous steps, you will get your account set up. Your new account can be accessed but not yet fully ready to use until you verify your identity by entering your Access code. That security code, Access Code, is the code that the CRA will mail you via Canada Post, It will take around ten business days from the date you created your account. Finally, Once you received the letter of your code, You log-in. CRA user ID and password to access your account. Services You Can Access from your CRA Account 1-Changing your Address 2-Arrange My Direct Deposit 3-Acess My Service Canada Account More assistance, Please book an appointment. Click here

The new CERB is for the workers, self-employed and contractors who are not eligible for the EI and have no income due to the COVID-19. To qualify, applicants must have had $5,000 in employment income, self-employment income, or maternity or parental leave benefits for 2019 or in the 12 months preceding the day they make the application. The application form will be available through a Government of Canada portal on April 6. it is essential to stay up to date and understand t...Continue reading

Emergency Care Benefit For up to 15 weeks, the Emergency Care Benefit will provide bi-weekly flat-payments up to $900. This income support can be used towards: All employed and self-employed workers who do not qualify for EL sickness benefits, but are either/both: o sick with COVID-19 and/or quarantined...Continue reading

"Instead of looking ahead with fear look up with faith." ~ Max Lucado

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