2021 PERSONAL INCOME TAX RETURN INFORMATION   We have compiled a number of resources for you below to review as you begin to prepare your documents for your 2021 Personal Income Tax Return.   Please contact our office if you have questions regarding the information included below.   2021 PERSONAL TAX INFORMATION CHECKLIST   The information provided in our 2021 Personal Tax Checklist will help you to assemble and organize your 2021…

Upcoming Personal Tax Reminders and Tax Tips for January 2022   This is a friendly reminder that the deadline to contribute to your Registered Retirement Savings Plan is March 1, 2022. To confirm your exact 2021 RRSP contribution limit for the year, please refer to your latest Notice of Assessment or log on to your Canada Revenue Agency account at CRA My Account Online.  Please contact our office if you have any questions.   The 2021 personal…

Extension To Government Support Programs   The Federal government recently announced new subsidy programs which replaced the outgoing CEWS and CERS, and extensions to other pandemic support programs. The following are the significant updates of the support programs: Introduction of new wage and rent subsidy programs: the Hardest-Hit Business Recovery Program (HHBRP), the Tourism and Hospitality Recovery Program (THRP), and the Local Lockdown Program (LLP). New support for employed and…

HVGP Is Moving This Holiday Season, for more information and office hours please read.   As we wrap up 2021, our team at HVGP wishes you a happy and safe holiday season. We are proud of our team and look forward to working with you in 2022. The team will be hard at work during the holiday break as we move to a new location. As of January 4th, 2022, we will be…

Year End Tax Planning Tips and Reminders 2021 As we approach the end of the year, now is a good time to start thinking about tax planning so that you make the most of opportunities available to you, as well as be prepared when deadlines are due. Although the year 2021 had shown improvements to the economy, some of the hardest hit businesses are still struggling through the pandemic. As…

Ontario Business Registry Update – December 2021 On May 15, 2021, the Canada Revenue Agency stopped accepting corporations’ annual returns on behalf of the Ministry of Government and Consumer Services (MGCS).  Since the returns are no longer being submitted through the CRA with the corporate tax return, it means all affected corporate taxpayers will need to file their annual return directly through ServiceOntario’s Ontario Business Registry. A failure to file…

Tax Tips – September 2021 Please find attached our latest quarterly newsletter. In this issue we cover COVID-19 related tax matters and subsidy programs, CRA debts, RRSP, TFSA, wills and beneficiaries, and travel allowances.  Read the details here: TAX TIPS September 2021

Extension To Government Support Programs And Changes To Inter-Generational Transfers The Canadian government recently announced extensions to their pandemic support programs. The following are the significant updates on the government’s support programs:· Canada Emergency Wage Subsidy (CEWS), and Canada Emergency Rent Subsidy (CERS), including Lockdown Support, have been extended until October 23, 2021. Increasing the CEWS and CERS subsidy rate for period ending September 25 but no changes to CRHP….

Canada Emergency Wage Subsidy (CEWS) Update – July 19, 2021   The Canadian government has passed Bill C-30 into law. This bill confirms a few of the key proposals from the federal budget that was announced in April: Canada Emergency Wage Subsidy (CEWS), and Canada Emergency Rent Subsidy (CERS), including Lockdown Support, have been extended until September 25, 2021. A revenue reduction of greater than 10% will be required to…

New Ontario COVID-19 Worker Income Benefit – May 6, 2021   On April 29, 2021, the Ontario government amended the Employment Standards Act (ESA) to require employers to provide employees with up to 3 days of paid emergency leave for certain reasons related to COVID-19. Eligible employers could recover up to $200 per day (limited to the regular wages the employee would have received). More information will be available soon…