Voter casting a ballot during Canada's federal election 2021

UPDATED: Tax changes are likely with the new minority government

The very brief federal election campaign that few Canadians wanted is now over. We know which party will form the next government and which ones will provide the support that the victorious Liberals need to govern. It was no surprise that neither the Liberals nor the Conservatives garnered enough seats to win a majority. Now […]

paid sick days

Ontario launches paid sick days for employees affected by COVID-19

After months of lobbying on the part of the medical community and various labour groups, the Ontario government this week proposed amendments to the province’s Employment Standards Act, 2000, to provide up to three paid sick days for employees that need to miss work for reasons relating to COVID-19. Under the Worker Income Protection Benefit, […]

parliament of Canada

Federal Budget 2021 extends COVID-19 supports, introduces new taxes

Federal budget 2021, the first federal budget in two years, was tabled yesterday amid doom and gloom predictions of increases in the capital gains rates, taxation on the sale of principal residences, and a range of other tax increases to pay for COVID-19 relief programs. The worry proved to be all for naught—at least for […]

2021 Ontario budget offers billions in relief for hard-hit businesses

Ontario Finance Minister Peter Bethlenfalvy promised to table a provincial budget that would do what it takes to carry the province through the final stages of COVID-19—and the 2021 Ontario budget lives up to the promise of continued major spending commitments. The proposed package would see Queen’s Park spend $173 billion in 2021-22, up from […]

COVID-19: CEWS, CERS, Lockdown Support rates extended

The federal government today announced that it will extend the rate structures for three COVID-19 relief benefits—the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Rent Subsidy (CERS) and the Lockdown Support—until June 5th, 2021. The rates for each of the programs were set to expire on March 13th, 2021. The maximum CEWS wage subsidy […]

Chefs working at a restaurant

Highly Affected Sectors Credit Availability Program now open

The federal government’s new Highly Affected Sectors Credit Availability Program, a COVID-19 relief measure designed to help businesses operating in hard-hit sectors such as hospitality and tourism, is now accepting applications. The program provides loans—fully guaranteed by the Business Development Bank of Canada—of between $25,000 and $1 million to qualifying businesses. Loans of as much […]

Ontario launches Small Business Support Grant to aid COVID-19-impacted organizations

The application window for the Ontario Small Business Support Grant is now open. The provincial COVID-19 relief measure is intended as yet another lifeline to aid struggling small to medium-sized businesses across Ontario that have been forced to close or reduce services due to the most recent province-wide lockdown. Qualifying businesses—including corporations, partnerships, charities, non-profits and […]

Fall Economic Statement 2020 Parliament buildings Centre Block

Fall Economic Statement predicts record deficits, extends COVID-19 relief measures for business

The federal government’s Fall Economic Statement 2020 delivered few surprises. As expected, it did not provide a clear fiscal anchor for the year ahead. Nor was there a plan to return to fiscal balance in the near future. Ottawa hasn’t delivered a formal budget since March, 2019, well before the coronavirus pandemic sent the country’s […]

2020 Ontario budget posts record deficits, offers major spending to support business

In tabling the 2020 Ontario Budget yesterday, the provincial government reminded us that the path to fiscal stability will be long and arduous as a result of the ongoing coronavirus pandemic—and that new COVID-19 lockdowns could still inflict major economic damage. In doing so, Doug Ford’s Progressive Conservatives scrapped plans to balance the budget in […]