https://cantrustfinancial.ca/wp-content/uploads/2020/12/Up-to-400-for-home-office-expenses.png 563 1000 Simon Marples https://cantrustfinancial.ca/wp-content/uploads/2019/05/cantrust-logo-05-On-White.png Simon Marples2020-12-29 11:47:492020-12-29 21:33:10Government of Canada to allow up to $400 for home office expenses
For the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.
https://cantrustfinancial.ca/wp-content/uploads/2020/12/Highlights-of-the-2020-Federal-Fall-Economic-Statement@1000px.png 563 1000 Simon Marples https://cantrustfinancial.ca/wp-content/uploads/2019/05/cantrust-logo-05-On-White.png Simon Marples2020-12-07 15:42:082020-12-08 01:15:27Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now
Finance Minister Chrystia Freeland recently provided the government's fall economic update. It included information on the government's strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We've summarized the highlights for you: • Corporate Tax Changes, including extensions to subsidy programs. • Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new "Work from home" tax credit. • Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields. For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.