Starting April 15th, payroll requirement for $40,000 small business loan lowered to $20,000.
New criteria for $40K Emergency loan – if have less than $20K of salaries
A business operating account at a participating financial institution
A Canada Revenue Agency business number, and to have filed a 2018 or 2019 tax return.
Eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance.
Child Tax Benefit top-up: For May 20th payment, up to $300 per child additional payment to be added to your regular child tax benefit.
To our valued clients,
As the current health crisis continues, we have made the decision to limit access to the office in order to ensure the safety of our clients, as well as our staff so that they can continue to process returns for our clients. We realize how important this is as many clients are due refunds, which can help those who are currently not working. Also, filing is required to ensure payment of the support payments as they are being processed through the Child Tax Benefits and HST credit which require returns to be filed before payments can be received. So please rest assured that we are working diligently to continue to serve you in this manner.
Please feel free to reach us through other media such as through the telephone and email. We are happy to serve you in this manner.
For submitting your taxes for completion, we have our red drop box outside our office and one at Janet’s home, and we will have a package of envelopes there for our clients to place their information in. Please feel free to insert your information in those and place them in the red drop box which we will be checking more frequently each day to gather the packages. We will email to you the form for sending your tax return to the CRA and your invoice. You can sign and take a picture, or scan and send, fax, or mail back this form to us and we will e-file your return. You can send payment through Interac to firstname.lastname@example.org or mail a cheque and then when this challenge is over, you can then come in to pick up all of your information when you are ready. We can arrange other accommodations if you have no access to these mediums.
Thank you in advance for your patience and understanding during this health challenge. We wish you and your families good health while this crisis continues.
Our new location is 1595 Hwy 7A in Port Perry.
Janet McGhee has over 15 years of experience as a Chartered Professional Accountant specializing in tax services for Ernst and Young, KPMG and also small business.
At Janet McGhee, Chartered Professional Accountant, we believe in tradition and old fashioned values. We pride ourselves on listening to our clients, and facilitating conversations so that we learn about their unique situations as this enables us to provide them with the best accounting solutions for their business or personal needs.
One area that we hope you visit is our TAX TIP blog. We have made this section for our clients to visit, as we hope that if any of these are applicable to you, or you find them interesting, then we can discuss how they affect you at our next meeting! We enjoy when our clients are participating in saving themselves money through effective tax planning.