The week of March 16, 2020 will be forever remembered by all Canadians. For many of us, whatever Spring Break trip planned along with everything else entertainment was cancelled that week. 2019 Incomes Taxes Due Date Extended For accountants who file taxes for a living, we were provided specific deadlines by Ottawa. All personal and information returns were extended to
With the curve flattening in BC, I am going to practice optimism and leap back to the future to discuss tax planning for BC individuals and small businesses for the 2020 year end. Operating loss utilization There will be businesses with operating losses for this fiscal year. Losses can be carried back three years whether you are proprietor or an
It is March 28, 2020 today. At the end of this week, BC government and Ottawa came up with some huge assistance for small businesses which I will cover here. I expect their response to only grow as time goes on and I will keep you abreast on new matters. First, Ottawa response and the official link is below. https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#wage_subsidies
MEW and COMPANY
Chartered Professional Accountants
Suite 418–788 Beatty St. Vancouver, BC V6B 2M1
Tel: 604 688 9198 | Fax: 604 688 9192
Suite 418–788 Beatty St.
Vancouver, BC V6B 2M1
Tel:604 688 9198
Fax: 604 688 9192
Lilly Woo, CPA, CA, CFE, CFP (ext. 1)
Richard Mew, CPA, CA, CFP (ext. 2)
For everything from consultation to a comprehensive corporate tax plan, call us, we’re here to help. Whether you’re an incorporated Canadian business or a Canadian individual, whether you need financial statements or a comprehensive tax and estate plan, we know how to work within the current Canadian tax laws to minimize your tax burden and maximize your net worth
© 2020 Mew & Company
