The Difference between Segregated Funds and Mutual Funds
Segregated Funds or Mutual Funds? What’s the difference?
Entries by L.S. Smith and Associates
Throne Speech: Recovery Plan Highlights
On September 23rd, in a speech delivered by Governor General Julie Payette, Prime Minister Justin Trudeau outlined the Federal government’s priorities.
CEBA extended to October 31st. Expanded to include more businesses.
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.
Succession Planning for Business Owners
Business owners deal with a unique set of challenges. One of these challenges includes succession planning. A succession plan is the process of the transfer of ownership, management and interest of a business. When should a business owner have a succession plan? A succession plan is required through the survival, growth and maturity stage of a business. All business owners, partners and shareholders should have a plan in place during these business stages.
CERB transitions to NEW Recovery Benefits and EI
On August 20th, the Federal Government announced the extension of the Canada Emergency Response Benefit (CERB) by one month and the transition to the Canada Recovery Benefit, Canada Recovery Sickness Benefit, Canada Recovery Caregiving Benefit and a simplified EI.
Details of the EXPANDED Canada Emergency Wage Subsidy
On August 11th, the Government of Canada updated the calculator and Canada.ca with the changes to the Canada Emergency Wage Subsidy (CEWS).
If you’re a business owner who has suffered losses as a result of COVID-19 and did NOT qualify previously for CEWS, you may now qualify.
Retirement Planning for Business Owners – Checklist
As a business owner, one of your challenges is learning how to balance between reinvesting into the business and setting money aside for personal savings. Since there are no longer employer-sponsored pension plans and the knowledge that retirement will come eventually, it’s important to have a retirement plan in place.
We’ve put together an infographic checklist that can help you get started on this.
Canada Emergency Wage Subsidy expanded to include more businesses!
On July 17th, Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that will expand the number of businesses that qualify for the program.
Canada Emergency Wage Subsidy extended into December!
On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.
Insurance Planning for Business Owners
For business owners, making sure your business is financially protected can be overwhelming. Business owners face a unique set of challenges when it comes to managing risk. Insurance can play an important role.
