• 778-803-7288
  • sayhello@bizsense.xyz

Author Archive

New BC Employer Tax Credit Coming in March 2021

On September 17, 2020, the BC Government announced the BC Increased Employment Incentive, a refundable tax credit for eligible employers who increase their payroll for eligible employees between Q3 and Q4, 2020, by either creating new jobs or increasing existing employees’ pay. Online applications will open in March, 2021, through the eTaxBC system.

Eligible employers are all employers in BC other than public institutions based on the released information.

As stats on the Goverment website, the tax credit will be calculated as 15% of the amount that the employer’s qualifying BC remuneration paid to eligible employees from Q4, 2020, exceeds the employer’s base BC remuneration paid to eligible employees from Q3, 2020. Both the qualifying and base BC remuneration calculation will be capped at a maximum of $1,129.33 per employee per week. Partial weeks will be prorated.

Eligible employees need to report for work at a permanent establishment of the employer in BC or be paid from a permanent establishment in BC and perform their duties in BC. An employee is considered to have reported for work at a permanent establishment of a BC employer if the employee is sufficiently attached to the permanent establishment, either by working at the establishment in person, or temporarily working from home due to COVID-19. Generally, an employer will have a permanent establishment in BC if the employer has a fixed place of business in BC.

If employers qualify for the Canada Emergency Wage Subsidy as well as the new BC Increased Employment Incentive, they may receive assistance from both programs.

Further information can be found in this Technical Backgrounder and will be released at this Government webpage when available.

bizsense

Successful Marketing Ads for Your Business

Lorem ipsum dolor sit amet, Tetur adipiscing elit. Atempor scelerisque olor sit mauris. Maecenas ac tincidunt ex. Nunc sit amet bibendum urna. Integer ac pretium eros. Phasellus vitae massa interdum, posuere augue vel, molestie purus. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia curae; Sed at libero ullamcorper, laoreet tortor eu, posuere erat. Etiam ultricies metus vitae consequat lacinia.

Ras dictum nisi eros, iaculis viverra libero tempor at. Vestibulum dictum euismod egestas. Etiam bibendum volutpat risus, sed posuere leo tincidunt vel. Aenean odio tortor, sollicitudin in ex dignissim, laoreet bibendum leo. Aliquam varius pellentesque ligula quis accumsan. Aliquam ultricies pharetra urna, vel mollis est facilisis in. Suspendisse ut nisl tempus, fringilla sapien sed, accumsan enim. Cras tristique magna nec tristique cursus. Sed commodo posuere diam, quis tincidunt sapien scelerisque sit amet. Proin nec porta quam. In vel lorem a nisl pretium imperdiet.

bizsense

Let’s Building Your Business from Scratch

Orem ipsum dolor sit amet, siy dffee consectetur adipiscing elit. Massa iaculis sem aliquet neque. Nullam diam metus, gravida et eleifend quis, viverra sit amet erat. Nam tempus ante sem, sit amet tempus purus pulvinar sit amet. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia curae; Nam vitae leo mauris. Quisque condimentum eget velit dictum rhoncus. Sed volutpat felis id mauris tempor ultrices. Sed interdum facilisis tellus. Etiam aliquet ante sed ex sagittis, in tristique arcu consequat.

Phasellus ultricies vestibulum tristique. Quisque a dui porttitor, tempus velit eu, viverra felis. Morbi dolor nisl, convallis a libero sit amet, feugiat malesuada nulla. Aliquam eget tortor semper, consectetur eros ac, eleifend velit. Duis at egestas massa, at sodales ipsum. Integer quis massa pulvinar, lacinia nisi non, euismod magna. Aliquam sed libero lacinia, varius magna non, mollis turpis.

bizsense

The Best Place to Invest Your Money

Rem ipsum dolor sit amet, Nem consectetur adipiscing elit. A tempor scelerisque mauris. Etiam eget interdum eros, eu pellentesque nulla. Morbi elementum dignissim ante, tempus venenatis eros molestie eu. Nulla justo orci, pellentesque quis nibh ac, tincidunt aliquam mauris. Quisque finibus eleifend dictum. Vestibulum quis posuere diam. Suspendisse sagittis non augue eu interdum. Curabitur scelerisque lacinia leo sit amet pulvinar. Integer a nisl sed eros dictum vestibulum id ac erat. Phasellus ut consectetur velit. Maecenas vehicula ante quis nisl pretium, ut vulputate metus malesuada. Maecenas efficitur nisi nec rutrum sollicitudin. Nam auctor eleifend dui a imperdiet. Maecenas accumsan purus nibh, ac congue nisl lacinia ut.

Cras dictum nisi eros, iaculis viverra libero tempor at. Vestibulum dictum euismod egestas. Etiam bibendum volutpat risus, sed posuere leo tincidunt vel. Aenean odio tortor, sollicitudin in ex dignissim, laoreet bibendum leo. Aliquam varius pellentesque ligula quis accumsan. Aliquam ultricies pharetra urna, vel mollis est facilisis in. Suspendisse ut nisl tempus, fringilla sapien sed, accumsan enim. Cras tristique magna nec tristique cursus. Sed commodo posuere diam, quis tincidunt sapien scelerisque sit amet. Proin nec porta quam. In vel lorem a nisl pretium imperdiet.

bizsense

Forgivable Loans(CEBA)

Today’s topic is CEBA (Canada Emergency Business Account) – 25% forgivable of first $40,000 plus 50% forgivable of next $20,000.

Nullam fringilla erat eget volutpat porttitor. Quisque at elit augue. Fusce ut felis at nisi convallis egestas sed id arcu. Phasellus varius bibendum lorem vitae vulputate. Morbi maximus neque nec ligula fringilla accumsan. Sed a pharetra ante. Fusce et convallis ipsum, id placerat urna. Donec vel tortor id diam ultricies viverra non a dolor. Sed dapibus magna sed velit congue placerat. Mauris feugiat quam quam. Donec vitae urna a augue hendrerit venenatis vitae nec quam. Quisque eu finibus orci, eget accumsan magna. Fusce nec massa leo.

bizsense

Canada Emergency Business Account (CEBA): How to use.

If you already applied the CEBA, I think your next question is how to use the CEBA fund.

HOW TO SPEND CEBA?

Some of the business owner belived that the CEBA only allowed to spend the CEBA funds on the very restrictive ENDE list of expenses.

This is incorrect. Yes, there are limits on how CEBA funds can be used but the allowable use is not limited to expense list.

bizsense

Canada Emergency Rent Subsidy

What is the Canada Emergency Rent Subsidy (CERS)?

This financial support helps businesses, charities, and non-profits that have suffered a revenue drop due to COVID-19, by subsidizing a percentage of their expenses, on a sliding scale, up to a maximum of 65 per cent of eligible expenses until December 19th, 2020. It replaces the Canada Emergency Commercial Rent Assistance (CECRA) program. (The deadline is Oct 30, 2020)

The CERS program includes a subsidy of 25 per cent for organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority, in addition to the 65 per cent subsidy.

Based on the limited information we have, the Government of Canada has delivered over $1.8 billion in rent support, through the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This rent assistance has helped over 130,000 small businesses, supporting 1.18 million jobs in Canada.

The new Canada Emergency Rent Subsidy (CERS) picks up where the previous program ended, delivering direct, targeted, and accessible rent support to qualifying organizations without the need to work through their landlord.  It will also provide a subsidy for eligible fixed property expenses, including rent and interest on commercial mortgages.

Who is Eligible?

Full details of eligibility and how to apply will follow when they are announced. We will update this blog once further information and details become available.

refer link: https://www.canada.ca/en/department-finance/news/2020/10/government-announces-new-targeted-support-to-help-businesses-through-pandemic.html

bizsense

Team Gathering

Dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum,

bizsense

Business Seminar

Simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum,

bizsense