AndersonBronsch Team Chartered Professional Accountants

Canada Emergency Wage Subsidy (CEWS) The CEWS has now been extended to include December, 2020!

Estate Planning One of the growing more common estate planning points is to gift property to adult children/grandchildren/etc. before death so that the property is no longer part of the estate and therefore is not part of the Will. Gifts of property (investments, real property, etc.) create a deemed disposition whereby the transferor recognizes a deemed disposition at fair value (which may create a taxable gain) and the transferee receives the property at a cost equal to ...Continue reading

RRSP Over Contributions No Mercy Do you know your RRSP Contribution Limit? Many people contribute to their RRSP and too often are overcontributing. In that case what happens?...Continue reading

May 4, 2020 Loans to Spouse and Minor Children Effective Tool For Income Splitting to Reduce Taxes May the 4th be with you!...Continue reading

Canada Emergency Business Account (CEBA) June 20, 2020 This program is for loans to certain qualified small businesses (either incorporated or as a proprietorship) and non-profit organizations that have a business number. The CEBA is:...Continue reading

Canada Emergency Wage Subsidy (CEWS) June 22, 2020 On Saturday April 11, Parliament passed Bill C-14 which is the legislation to implement the CEWS. The legislation is complex and due to its hastiness has some unknown parts, unintended and intended consequences, and gaps yet to be addressed. Due to its complexity, it will take a while to fully analyze its implementation....Continue reading

Canada Emergency Response Benefit (CERB) June 15, 2020 The provision for support payments for workers (both self-employed, employed but are furloughed or have reduced pay, or now unemployed and not receiving EI) is called Canada Emergency Response Benefit Act (CERB). The plan will be administered and enforced by the CRA and not the EI system as the EI system is already over capacity. The basic plan is Canadian workers over the age of 15 who have earned more than $5,000 in 201...Continue reading