Canada United Small Business Relief Fund The Government has reopened applications for the Canada United Small Business Relief Fund. This grant is issued on a first come first serve basis so it is important to submit your applications as soon as possible if you qualify. This grant would reimburse your costs for eligible protective supplies and renovations to comply with re-opening guidelines, purchased on or after March 15, 2020, such…

  2020 PERSONAL INCOME TAX RETURN INFORMATION   The deadline for filing your 2020 personal income tax return is April 30, 2021. If you or your spouse are self-employed, your filing deadline is June 15, 2021. All taxes payable are due by April 30, 2021. Also, a friendly reminder that the deadline to contribute to your Registered Retirement Savings Plan is March 1, 2021. To confirm your exact 2020 RRSP contribution limit for the year,…

Update of Government Programs and Announcement of the NEW HVGP Client Portal HVGP LLP is proud to be your trusted advisor, and we want to continue to ensure we are providing you with information that is valuable and relevant to you. As we move into 2021 there are several things that we want to ensure you are aware of: Update of Government Support Programs and Upcoming Deadlines As we look…

Season’s greetings to you and yours! This year we feel it is especially important for us to take a moment to send everyone sincere wishes for a healthy and happy holiday season. Our business, like yours, has had to adapt and adjust so often in 2020 it feels like there hasn’t quite been time to stop to thank everyone who supports us enough. We had our 1st “virtual” team holiday…

Year End Tax Planning Tips 2020 This year had been challenging for both businesses and individuals, the government had implemented various assistance programs in response. The Federal Government provided a Fall Economic Statement on November 30, 2020, which can be found at the following link. Year-end tax planning As we wind up the year 2020, we have prepared a 2020 Personal Tax Changes and Updates summary of the items you may wish…

Updates on Government Relief Initiatives November 20, 2020 On November 19, 2020, the government passed Bill C-9 into legislation. It enacts the new Canada Emergency Rent Subsidy (CERS) and extends the Canada Emergency Wages Subsidy (CEWS) to June 30, 2021. Both subsidies are determined based on revenue decline, to bring support to those who are suffering from the pandemic. To assist those affected by the lockdown measures, there is an…

HVGP sponsors #PinkTruckTour HVGP is a proud to once again be a Gold Captain Sponsor of The Mississauga Fire Fighters Benevolent Fund for Pink Truck Tour 4.0.  This campaign is working hard to raise funds and awareness for the Cancer programs at Trillium Health Partners. The @MFFA_Benevolent volunteers recently came by the HVGP office to visit our staff.  We thank them for this opportunity to join them in supporting @TrilliumHealth…

Summary of Ontario Budget 2020 Ontario Budget: On November 5th, 2020, Rod Phillips, Ontario’s Minister of Finance, presented the province’s budget. Please find our summary of the budget here. Other Government Support: CEBA: Further to our last newsletter regarding the increase from $40,000 to $60,000, the government had updated their position and you are now permitted to apply if you were not operating your business from an active business banking account….

Updates on Government Relief Initiatives – October 2020 On October 2, 2020 additional Government Relief Initiatives were passed to replace the outgoing CERB Program that ended on October 3, 2020. You will find the full details in this Link regarding the new: · Canada Recovery Benefit (CRB) · Canada Recovery Caregiving Benefit (CRCB) · Canada Recovery Sickness Benefit (CRSB) In addition, there are other key discussions happening around enhancement of…

Update on Extension, CEWS, CERB, TWS, Disability Payment, and New Programs – August 27, 2020 Since our last newsletter the Government has implemented changes and further support for the economy, such as the CEWS extension and three new benefit programs. Please visit our latest newsletter summarizing these important updates here:  Link to 2020-08-27 Updates on government programs A kind reminder that income tax payments and instalments for personal and corporate income…