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business people at an office

Positioning your organization for post-pandemic growth

And now comes the hard part. As the acute phase of the COVID-19 crisis slowly winds down across Canada and business begins to return to normal—albeit very slowly in provinces such as Ontario—leaders are finally able to take a deep breath, survey the financial damage and prepare for the post-pandemic recovery. Others may conduct the […]

May tax news: Estate strategies, tuition tax credits–and more

ESTATES AND THE “PIPELINE” STRATEGY When a person dies, they are deemed to dispose of most of their capital properties at fair market value. This deemed disposition may trigger capital gains or losses, depending on the tax cost of the properties relative to their current fair market value. The person who acquires the property as […]

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 […]

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 […]

Introducing KRP LLP’s newest partner, Cecily Huang

On the heels of long-time partner Marshall Egelnick’s retirement after a more than 40-year career with our firm, we’re thrilled to announce a dynamic new addition to our leadership team. Cecily Huang is now a member of the KRP LLP partnership group. Huang has been a key member of the KRP team for more than […]

woman working from her home office

CRA signals a willingness to simplify home office tax deductions for employees

  Almost overnight, the COVID-19 crisis launched many Canadian businesses into the most ambitious remote-work/home office experiment ever attempted. Widespread lockdowns forced businesses to either shutter or have their employees work from home until further notice. Many still are—and have no plan to return to the office. Indeed, many a CFO and accounting department embraced […]

office staff in the workplace

Kick-start your return-to-growth strategy with a focus on the workplace

What will the new normal be? That’s the question businesses across Canada and around the world are trying to answer as governments lift restrictions put in place to help limit the spread of COVID-19. With companies eagerly reopening retail locations, ramping up production at manufacturing facilities and re-energizing their offices, it’s critical for leaders to […]

Business cybersecurity

Cybersecurity is a top priority for mid-sized companies in the COVID-19 era

  It goes without saying that COVID-19 has forced organizations to reconsider every aspect of their operations, from service delivery to the role of technology in keeping their workplaces safe. As they continue to restart and ramp up operations, cybersecurity will rank among their top concerns. A high degree of vigilance could help fend of […]

Construction workers and Canada Emergency Wage Subsidy extended

COVID-19: Canada Emergency Wage Subsidy extended and expanded

As the federal government takes steps to slowly wind down COVID-19 relief measures such as the Canada Emergency Relief Benefit, its economic recovery strategy is becoming clearer after it was announced on Friday that the Canada Emergency Wage Subsidy  would be extended to November 21st, 2020 (or nine claim periods) and possibly to December 31st, […]

M&A deal

M&A opportunities and challenges in the COVID-19 era

COVID-19 changed our world overnight as it quickly evolved from a global health crisis to a global economic crisis. Countries around the world closed non-essential businesses and pressed pause on their economies in order to stop, or at least slow, the spread of the novel coronavirus. A global pandemic was always going to be bad […]