GBA LLP Blog

75% Wage Subsidy Extended Until August

Posted by Trevor Buttle on May 15, 2020 12:44:33 PM

Today, Prime Minister Justin Trudeau said the 75 per cent federal wage subsidy program is being expanded by three months, to the end of August to assist employers as they look to reopen their businesses.

Companies that saw their revenues drop by 15 per cent in March or 30 per cent in April and May are eligible for the program — but Trudeau hinted changes could be coming to that threshold.


"As businesses start up again, this shouldn't become a barrier to growth."  He said this aspect of the program will be one explored during talks with business and labour stakeholders in the weeks ahead.

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Topics: General Tax Information, Tax, COVID

Planning Opportunities for the 75% Wage Subsidy

Posted by Trevor Buttle on May 2, 2020 1:30:14 PM

Today, I was talking with one of our clients about whether they qualify for the 75% wage subsidy. 

Sadly, they have been closed since the beginning of the COVID crisis, but now with the governments willing to slowly start opening some businesses, they are looking to bring back their employees and slowly start working again.

They did not think they qualified, as when they were closed they had no employees, and now that they are opening in May, they don't expect a full 30% drop in revenue year over year.

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Topics: Tax, COVID

75% Wage Subsidy Updates

Posted by Trevor Buttle on Apr 19, 2020 1:16:51 PM

75% Wage Subsidy (CEWS)

Updated April 19, 2020

The Canada Emergency Wage Subsidy (CEWS - the 75% Wage Subsidy) was passed into law on April 11, 2020.  This law amends the Income Tax Act to introduce an emergency wage subsidy as part of the COVID-19 response, specifically it details the 75% wage subsidy and how it can help businesses during this unprecedented time.

It is a complex law.  Bill C-14 encompasses about 11 pages, and about 5 of them are definitions of terms that have not been used in the Income Tax Act before, or they are very specific to this provision.  You should consult your tax professional if your situation is not straight forward.

Previously, it was indicated that the government wanted to provide an enhanced Wage Subsidy (75%) to help employers keep workers on the payroll.  Here are some of the details that were initially released with the recent changes.

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Topics: General, Tax, COVID

April 1st 75% Wage Subsidy Update

Posted by Trevor Buttle on Apr 1, 2020 5:15:14 PM

Earlier today Finance Minister Bill Morneau announced further details about the 75% wage subsidy.

The following is a summary of what was disclosed today and last week:

  • The wage subsidy will reimburse employers 75% of an employee's salary, to a maximum of $847 per week, per employee,
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Topics: General, Tax

The 27 Common Business Mistakes costing you Money Right Now - Part 5

Posted by Trevor Buttle on Jul 21, 2019 7:53:40 PM

FATAL MISTAKES’ You Must Absolutely, Positively Eliminate From Your Business Right NOW!

Here is part 4 of our 5 part series. If you have not read parts 1 - 4, please read those blogs first.

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Topics: General, Increasing Profits, Tax

The 27 Common Business Mistakes costing you Money Right Now - Part 4

Posted by Trevor Buttle on Jul 12, 2019 5:15:05 PM

FATAL MISTAKES’ You Must Absolutely, Positively Eliminate From Your Business Right NOW!

Here is part 4 of our 5 part series. If you have not read parts 1 - 3, please read those blogs first.

Marketing Mistake #6

Failing To Use Testimonials

Let’s be honest - selling isn’t easy. Unless a prospect is convinced, the product or service will give them the result they’re seeking, the sale won’t be made.

And what people say themselves about their business and their products or services is often taken with a ‘pinch of salt’. After all, we are all skeptics these days. So how can you almost instantly prove to the prospect you can deliver on your promises?

It’s actually much easier than you may think. All you need to do is use ‘customer testimonials’.

Again we can’t tell you how often we see businesses trying to sell and market their products or services without the use of testimonials. They make life very, very difficult if they don’t use testimonials. Testimonials have the power to get customers by the bucketful (we also call this ‘Social Proof’).

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Topics: General, Increasing Profits, Tax

The 27 Common Business Mistakes costing you Money Right Now - Part 3

Posted by Trevor Buttle on Jun 12, 2019 8:56:00 AM

FATAL MISTAKES’ You Must Absolutely, Positively Eliminate From Your Business Right NOW!

Here is part 3 of our 5 part series. If you have not read parts 1 and 2, please read those blogs first.

Marketing Mistake #2

Not Having A Unique Selling Proposition (USP)

This will knock your socks off.....

This is by far the most common Marketing Mistake people make. Let us explain…USP is the one thing that differentiates your business from your competitors in the minds of your customers and prospects.

The USP is what makes the difference between having a truly outstanding business or merely a good one, or worse still, a poor one.

Occasionally the USP already exists in your business – you just need to discover it and then articulate it in a way that makes you stand out from the crowd. However, in most cases the USP has to be created, often out of ‘thin air’. We can’t stress enough how important this is to you. How can you expect your customers to be able to choose you, over and above any of your competitors, if the customers can’t quickly see what it is you do that is so unique and beneficial to them?

Outstanding businesses have been founded on a USP alone. For example, here's a very well known USP…

"Red hot pizza delivered to your door in 30 minutes or less - guaranteed."

Tom Monahan of Domino’s Pizza created one of the most successful fast-food franchises in the world from the strength of this USP. So did Fred Smith of FedEx (“When it absolutely positively has to be there overnight – FedEx”).

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Topics: General, Increasing Profits, Tax

27 Mistakes That Are Costing SME Businesses $Millions

Posted by Trevor Buttle on Jun 6, 2019 8:15:00 AM

FATAL MISTAKES’ You Must Absolutely, Positively Eliminate From Your Business Right NOW!

Here is part 2 of our 5 part series. If you have not read part 1, please read that blog first.

Financial Mistake #7

Failing To Account For Regular Expenses

Every business should know when it is due to pay its wages, rent, tax and HST and also have a good idea of how much they are going to be. But when it comes time to pay them, they are often the expenses which many business owners simply don’t have the cash flow for, and it’s these expenses which cause many businesses to go under.

The reason is partly understandable as these tend to be big bills but it is often a symptom of an internal problem as the business fails to account for them.

A cash flow forecast is a fundamental management tool for a business.  It is the means by which future bills can be factored into current decisions and help to avoid spending money that ought to be allocated for other uses.

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Topics: General, Increasing Profits, Tax

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