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Health Spending Accounts for Small Business Owners and Tax …

As a small business owner in Ontario, you may not have the safety net of a health insurance plan that many large companies offer their employees. At some point, … See more

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URL: https://lrktax.ca/resource/health-spending-accounts-for-small-business-owners-and-tax-benefits/

Ultimate Personal Tax Guide for Small Business Owners

WebThe first $500,000 of business income in a Corporation generally gets taxed at 12.2% in Ontario (in 2022). This why many small business owners set up a …

Category: Health Go Health

Everything You Need to Know about the Tourism and Hospitality …

WebSupport in the Event of Future Public Health Lockdown. Businesses that are subject to a qualifying public health restriction would be eligible for support at the …

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2021 Budget: Everything Small Business Owners Need to Know

WebThe government is allowing Canadian-Controlled Private Corporation (“ CCPC “) – small businesses – to write off 100% of certain capital properties (referred to …

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2021 Budget: CEWS and CERS and the New Canada Recovery …

WebBudget 2021 proposes to extend the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Rent Subsidy (CERS) and the Lockdown Support until …

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6 Benefits Announced in the 2021 Ontario Budget to Help

Web1. Doubling the Ontario Small Business Support Grant. Ontario launched the Ontario Small Business Support Grant in January 2021, which originally provided a grant …

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Salary Vs. Dividends

WebThe maximum self-employed CPP is $6,999.60 ($3,499.80 x 2 for employer and employee portions). On top of CPP, the professional corporation will need to deduct about $7,400 …

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Everything You Need to Know About the Hardest-Hit Business …

WebCriteria. Businesses will need to meet the following two conditions to qualify: 1. An average monthly revenue reduction of at least 50% over the first 13 qualifying …

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Ontario’s Action Plan: Responding to COVID‑19 – LRK Tax LLP

WebOn March 25, 2020, Rob Phillips, Ontario’s Minister of Finance, put forth the Province’s Economic and Fiscal Update, with a focus on responding to COVID-19.

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Liberals: 2021 Election Tax & Real Estate Measures

WebThe below highlights some of the tax measures proposed by the Liberal Party of Canada for the 2021 Canadian federal election that will be held on September …

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LRK Tax Newsletter

WebPlease click here to read our December 2022 edition of the LRK Tax Newsletter. The year 2022 was a strange year in the tax world. We came out of the …

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Detailed Commentary on the Canada Emergency Rent Subsidy …

WebAccording to the 2020 Fall Economic Update, these rates are in place until Period 13, February 14, 2021 to March 13, 2021.. Revenue Reduction Percentage. The …

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People’s Party of Canada: 2021 Election Tax & Real Estate Measures

WebThe below highlights some of the tax measures proposed by the People’s Party of Canada for the 2021 Canadian federal election that will be held on September …

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Canada Emergency Wage Subsidy: Detailed Commentary on New …

WebOn Saturday, April 11, 2020, parliament held a rare weekend debate to pass Bill C-14, a bill containing legislation for the proposed Canada Emergency Wage Subsidy (“CEWS”). …

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The NDP: 2021 Election Tax and Real Estate Measures

WebThe below highlights some of the tax measures proposed by the New Democratic Party of Canada for the 2021 Canadian federal election that will be held on …

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