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What is an RRSP and How does it work?

What is an RRSP and How does it work?

SB Partners Admin on January 12, 2021 in Tax

Registered Retirements Savings Plans (RRSP) were introduced in 1957 by the government as an alternative vehicle Canadians could use to save for retirement. Essentially it is an account that is to be used as a long-term savings plan, with the “registered” designation implying that the CRA treats funds that are deposited or “contributed” to an … Continued



New Recovery Benefits

SB Partners Admin on October 6, 2020 in COVID19

New Recovery Benefits If you were receiving CERB, you may be eligible for one of the new recovery benefits retroactive to September 27, 2020 and available until September 25, 2021. Canada Recovery Benefit (CRB) The Canada Recovery Benefit will provide eligible workers with $500 per week (taxable, tax deducted at source) for up to 26 … Continued



The Speech from the Throne Sheds Light on the New Economy

SB Partners Admin on September 30, 2020 in COVID19

The recent Speech from the Throne delivered by the Honorable Governor-General on September 23 provided some insight into the direction the government intends to guide the Canadian economy through the remainder of the COVID-19 pandemic and beyond. The speech outlined four foundations: “Protecting Canadians from COVID-19”, “Helping Canadians through he pandemic”, “Building Back Better” improving … Continued



Federal government introduces legislation for new recovery benefits

SB Partners Admin on September 29, 2020 in Advice for Business Owners

On September 24, 2020, the federal government tabled Bill C-2, An Act relating to economic recovery in response to COVID-19, which creates three new temporary recovery benefits to support Canadians who are unable to work for reasons related to COVID-19. Specifically, the legislation includes: A Canada Recovery Benefit (CRB) of $500 per week for up … Continued



Enhanced Canada Emergency Wage Subsidy

SB Partners Admin on August 19, 2020 in COVID19

On August 17th, 2020, the Minister of National Revenue, the Honourable Diane Lebouthillier, announced that the Canada Revenue Agency has opened applications for Period 5 – the first period of the enhanced CEWS program. Highlights of the program changes for Periods 5-9 include: The extension of the CEWS, including redesigned program details, until November 21, … Continued



CERB Repayment

SB Partners Admin on July 28, 2020 in COVID19

In the wake of the COVID pandemic outbreak, the Canadian government introduced the Canadian Emergency Response Benefit (CERB). Financial assistance to employed and self-employed individuals of up to $2000 for a four-week period. That works out to be $500 a week, and the availability of the CERB was extended over several four-week periods. The CRA … Continued



SB Partners welcomes Ramki Balakrishnan to leadership of SB Advisory Services Inc.

SB Partners Admin on May 11, 2020 in SB Partners News

SB Partners is pleased to introduce Ramki Balakrishnan as President and CEO of SB Advisory Services Inc. (SB Advisory). Ramki brings 21-years of experience leading companies to the SB Advisory platform. Working with international firms within an evolving marketplace, Ramki will provide advice and guidance as organizations navigate the new economic environment. Ramki: “SB Advisory provides CEOs … Continued



Free COVID-19 Business Recovery and Planning Guide for Small and Medium-Sized Businesses

SB Partners Admin on May 7, 2020 in Advice for Business Owners

As many Canadian businesses continue to struggle through the COVID-19 pandemic, Business Health Council is taking action to help business owners navigate this crisis and adapt to the new realities in 2020 and beyond. SB Partners is proud to be a content contributor to the Business Health Council. Business Health Council (BHC) Business Health Council … Continued



Canada Emergency Commercial Rent Assistance (CECRA)

SB Partners Admin on May 5, 2020 in COVID19

On July 31, 2020 Finance Minister Bill Morneau announced that the Canada Emergency Commercial Rent Assistance (CECRA) will be extended by one month. Existing applicants need to reapply for the month of August and have until September 14, 2020 to do so. New applicants have the choice of applying for the three-month initial period, four months … Continued



Business Credit Availability Program (BCAP)

SB Partners Admin on April 20, 2020 in COVID19

Application deadline for the BCAP extended to June, 2021. A Business Credit Availability Program (BCAP) was established to provide $65 billion of additional support to small and medium-sized businesses through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC). BDC and EDC are working with private-sector lenders to coordinate on credit solutions for individual … Continued