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In Tax News: Audit Crack Downs, $$ for you, CERB and More... CEWS audits have begun, and all indications, they are quite daunting. Almost every person who claims it could have done level of review, whether it is a period review, a. trust exam, or a full blown CRA audit. This means care must be taken to ensure all the numbers are right in these applications. https://www.advisor.ca//cews-audit-requests-daunting-say/ ... Are we finally seeing the light in terms of the Ontario government starting to accept emailed applications for items? It seems like probate paperwork will be able to be started via email now, and you can get back the certificate of appointment of trustee from the government, via email. This is a huge step forward by the Ontario government.https://www.advisor.ca//ontario-allows-probate-applicati/ It seems like there is a long road ahead, but the good thing is that a large amount of people have saved the money the government is handing out. This will be beneficial when taxes on some of the payments comes due in the 2021 year. Are you prepared for the tax implications the government issued money will have on you personally or your business? Unlike the CERB, the new pandemic related recovery benefits WILL be taxed at 10%, so regardless of whether you receive the same gross amount of $500.00 your net in your bank will be $450.00. The positive thing about this is that it helps to alleviate the amount of taxes that will surely be owing for people in April of next year! https://www.advisor.ca//cra-to-withhold-tax-from-new-cov/

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