In Other News
Planning during COVID-19
There’s no doubt that the COVID-19 pandemic has presented challenges when it comes to an individual or a business owner’s financial plan. Many people have relied on various government relief programs. It’s more important now than ever before to revisit your plan so that you can make short and long-term adjustments where necessary.
Plan ahead to pay tax on the CERB
To date, approximately 1,100,000 people in BC have applied for the Canada Emergency Response Benefit (CERB), while over 8,245,000 people have applied for it nationally. Originally intended to last sixteen weeks, the CERB has been extended as COVID-19 continues to take a severe toll on employment and all parts of the economy.
Family trusts: Recent changes and continued benefits
The last three years have seen significant changes in tax legislation. Private family businesses have felt the bulk of these changes, and many are still trying to digest the impact within their businesses.