Archives: Newsletter

Grants of $10,000 to $30,000 are available to small and medium-sized B.C. businesses impacted by COVID-19. The program runs until August 31, 2021, or until the funds are fully allocated, whichever comes first. The grant is a two-step process that includes an application by the business, and the creation of a recovery plan. Who is Eligible:…

Canada Emergency Rent Subsidy (CERS) The 2020 Fall Economic Statement announced the Canada Emergency Rent Subsidy (CERS) which is an extension of the Canada Emergency Commercial Rent Assistance (CECRA) to assist small businesses affected by COVID-19 with rent and mortgage support. This program is available retroactively to September 27th, 2020 and will continue until June…

As part of the negotiated benefits through Doctors of BC, BC physicians have been able to claim matching RRSP contributions through the Contributory Professional Retirement Savings Plan (CPRSP). The CPRSP program calculates a basic benefit and length of service (LOS) benefit available to each physician. The basic benefit is calculated by using billings from the…

As part of the federal government’s COVID 19 Response Plan, CRA extended the payment date deadline for previous tax amounts owing and current instalment payments until September 30th, 2020. For individuals, including those that are self-employed, any amounts that are still owing for 2019 now must be paid by the 30th of September, along with…

The Federal Government recently passed Bill C-20, receiving Royal Assent on July 27th, 2020. Bill C-20 provides another 12-week extension to the Canada Emergency Wage Subsidy (CEWS), which further extends the program until November 21st, 2020 (likely extension to December 19th, 2020, but program details for that period are expected to be proposed at a…

The Federal government has announced a number of measures to financially help individuals and small business through the COVID-19 crisis. For small businesses and professionals, the three main packages are: The Canada Emergency Wage Subsidy (CEWS) The Canada Emergency Response Benefit (CERB) The Canada Emergency Business Account (CEBA CANADA EMERGENCY WAGE SUBSIDY (CEWS) The subsidy…

On March 18, 2020, the Federal government announced a number of new measures to assist employees and business owners through the numerous closures and restrictions imposed due to COVID-19. The general feedback was that the application process for many of these benefits would overwhelm the current EI system. Over 1 million Canadians have applied for EI…

On March 18, 2020, the Federal government announced a number of new measures to assist employees and business owners through the numerous closures and restrictions imposed due to COVID-19. tax-filing extension On Wednesday morning, the Federal government announced an extension to the personal filing deadline for 2019. Instead of April 30th, Canadians will have until June…

Governing colleges are strongly recommending that dentists in BC, Quebec, Nova Scotia, and Ontario to suspend all non-essential and elective services immediately. While emergency treatment may continue, anything that does not show risk of infection or represent acute pain or trauma is being discouraged. While these guidelines are limited to these specific provinces, it is…

On March 4th, the Bank of Canada cut interest rates as a response to the COVID-19 virus and resultant “negative shock” to the Canadian economy. The reduction saw the overnight lending rate drop by 50 basis points (0.50%), resulting in a rate of 1.25%. As a response, most Canadian banks have reduced their prime lending…