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ARTICLES OF INTEREST

Plan Well for Your Family Business

December 15, 2015import

If you are an owner in a family enterprise, you may not be aware that the chances of your business transitioning successfully to the next generation are not very good.  This has not changed over the years. Statistics show a…

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Changes to the Taxation of Estates

November 15, 2015import

Estate, trust and tax planners have long favoured testamentary trusts as vehicles to pass along assets to beneficiaries or heirs.   A testamentary trust is generally a trust or estate that is created the day a person dies.  Commonly, these trusts…

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The Corporate Estate Transfer

October 15, 2015import

If you are the owner of a successful company it is likely that you have retained profits or surplus cash in your corporation.  If this is the case, chances are also good that this invested surplus is exposed to a…

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Does your Business Qualify for the Small Business Capital Gains Exemption?

September 15, 2015import

As a business owner, you may be aware that when you dispose of shares in your business you could receive an exemption on all or a portion of the capital gains that ordinarily would be taxable. This is due to…

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There is Nothing so Certain as Death and Taxes

July 31, 2015import

Or so the saying goes.  This certainly is true in Canada where there is a “deemed disposition” when a taxpayer dies.  What this means is that a taxpayer is deemed to dispose of all his or her assets at fair…

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Is it Time for your Insurance Audit?

January 29, 2015import

Has it been awhile since you last looked at your insurance portfolio? Are you a little sketchy in your recollection of all the coverage you have and why you have it? Are you uncertain as to whether or not your…

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Addressing employee stress

November 8, 2014import

Mental illness is a significant threat to employers in terms of loss of productivity, absenteeism, disability and medical costs. While stress and poor mental health are not one and the same thing – in fact, the right level of stress…

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Extended COVID-19 Federal Emergency Benefits

February 22, 2021Financial Tech Tools

On Friday, February 19, 2021, Prime Minister Justin Trudeau announced an extension to:

– Canada Recovery Benefit
– Canada Recovery Caregiving Benefit
– Canada Recovery Sickness Benefit
– Employment Insurance

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Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients

February 12, 2021Financial Tech Tools

Great news for some ineligible self-employed Canadians who received the Canada Emergency Response Benefit (CERB)

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Government of Canada to allow up to $400 for home office expenses

December 29, 2020Financial Tech Tools

For the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.

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Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

December 7, 2020Financial Tech Tools

Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:

• Corporate Tax Changes, including extensions to subsidy programs.

• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.

• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.

For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.

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Applications for the new Canada Emergency Rent Subsidy starts today!

November 23, 2020Financial Tech Tools

The new Canada Emergency Rent Subsidy is open for applications today! Unlike the previous program, this subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.

CERS covers up to 65% of rent for businesses, charities and non-profits impacted by COVID-19.

An additional 25% Lockdown Support is available during a public health lockdown order.

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Applications for Canada Recovery Benefit now open!

October 13, 2020Financial Tech Tools

The Canada Recovery Benefit (CRB) is now open for applications.

If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period.

If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.

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New Canada Emergency Rent Subsidy | Wage Subsidy extended | CEBA additional $20,000 loan

October 9, 2020Financial Tech Tools

Great news for businesses! The new Canada Emergency Rent Subsidy will be available directly to business owners who need rent relief. The Wage Subsidy has been extended to June 2021. And the CEBA has been expanded to provide up to $20,000 interest-free loan.

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Applications for Canada Recovery Sickness Benefit and Caregiving Benefit starts today!

October 5, 2020Financial Tech Tools

Starting October 5, 2020, the Government of Canada will be accepting online applications for the Canada Recovery Sickness Benefit (CRSB) and the Canada Recovery Caregiving Benefit (CRCB).

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Throne Speech: Recovery Plan Highlights

September 24, 2020Financial Tech Tools

On September 23rd, in a speech delivered by Governor General Julie Payette, Prime Minister Justin Trudeau outlined the Federal government’s priorities.

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CEBA extended to October 31st. Expanded to include more businesses.

September 1, 2020Financial Tech Tools

On August 31st, Deputy Prime Minister and Minister of Finance Chrystia Freeland announced the extension of the Canada Emergency Business Account (CEBA) to October 31st, 2020. This will give small businesses 2 additional months to apply for the $40,000 loan.

In addition, the Federal Government said it was working with financial institutions to make the CEBA program available to those with qualifying payroll or non-deferrable expenses that have so far been unable to apply due to not operating from a business banking account.

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Contact Us

Jack Shaffer
BA, CLU, CH.F.C.
Corporate and Personal Estate Planning Specialist
Tel: 604-880-9589
Email: jack@jackshaffer.com

#1810 - 1075 West Georgia Street
Vancouver, BC
V6E 3C9

About

Jack is a graduate of the Family Enterprise Advisor Program given by the Sauder School of Business at UBC. He has lectured extensively to professional groups including the B.C. Institute of Chartered Accountants, as well as individual accounting and legal firms. He is co-author of, and has been instructor for, both the introductory and advanced life insurance courses for the Canadian Institute of Chartered Accountants. He often is called upon to provide expert opinion or testimony in legal disputes involving life insurance or advisor conduct.

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