Six ways for you and your employer to maximize financial benefits during COVID-19
- Written by Administrator
- Hits: 1798
Now that my friend Jack is working from home, he sleeps in longer and naps during the day. “Tim, a good sleep not only allows you to live longer, but it really shortens the workday as well,” he said to me. He says he’s still getting his work done and doesn’t mind the change in his daily routine. “The only thing I don’t like,” he added, “is that I’ve got extra costs to cover now that I’m working from home [he had to buy a faster router], and I’m worried that our company may be laying people off soon.”
If you’re an employee, here’s a list of things to think about and some conversations to have with your employer to make things easier for you financially during COVID-19.
Read more from Globe and Mail
Raising tax rates to pay new debts may not work
- Written by Administrator
- Hits: 1716
One prediction certain to come true is that by the end of this year governments will be grappling with weakened public finances, a smaller economy and a more cautious public. As I reported last week, the IMF predicts Canada’s all-government gross debt will reach 110 per cent of GDP in 2020. Our fiscal deficit, which is still growing, will be second highest among advanced countries as a share of GDP, behind only the United States. Many people are now predicting taxes will increase in the coming decade.
Read more from Financial Post
What’s new in QuickBooks Online: March 2020
- Written by Administrator
- Hits: 1299
As spring begins to blossom, a fresh new set of features are popping up to help small business owners like you find new ways to freshen up your books.
Redesigned Banking tab in Business View
In a nutshell: The Banking tab has always been an incredibly useful place for users to manage incoming transactions, organize customers and clients, and streamline business performance. However, we know that it can sometimes be tough (especially for new users) to correctly add, match, and manage transactions.
The new Business View in the Banking tab is thoughtfully designed to make the process of managing transactions as easy and straightforward as possible. There are lots of small improvements, but the fundamental shift lies in clearer, more explicit callouts for required actions for the user.
Read more from Intuit
The GST/HST credit has been boosted due to COVID-19 — here's what you need to know
- Written by Administrator
- Hits: 1280
Last week, the government began sending out one-time supplementary goods and services tax/harmonized sales tax (GST/HST) payments as part of its COVID-19 pandemic relief plan. This measure will provide some extra support to lower- and middle-income Canadians, some of whom may not qualify for the $2,000 monthly Canada Emergency Response Benefit because they are students, seniors or otherwise didn’t meet the requirement to have at least $5,000 of (self-)employment income in either 2019 or in the 12 months prior to the date of application.
Read more from Financial Post
Nine changes for taxpayers that come with the COVID-19 Economic Response Plan
- Written by Administrator
- Hits: 1367
A few years ago, I was driving through the southern U.S. when I saw a sign that read: “Prison Area. Do Not Pick Up Hitchhikers.” So, I didn’t. Prisons are foreign to me. I’ve never been in one. The closest I’ve come are the annual federal budget lock-ups that happen about this time each year, and which I’ve attended for many years. Not this year, however.
Rather than holding a widely attended budget lock-up, the government instead released its COVID-19 Economic Response Plan on Wednesday. There were some changes that taxpayers should be aware of, which I’d like to share today.
Read more from Financial Post