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Department of Finance temporarily adjusts automobile standby charge for the 2020 and 2021 tax years

The effect the ongoing COVID-19 pandemic has had on businesses by way of lockdowns and declines in general business activity has been immeasurable. As many businesses experience declines in activity, the trickle-down has also impacted employees who have seen a reduction in their business or personal mileage use for their employer-provided automobile. 


The BC Small and Medium Sized Business Recovery Grant Program Explained

Small and medium-sized businesses fuel British Columbia’s economy. Providing them with the support they need during and after the COVID-19 pandemic is crucial to the province’s economic future. The BC Small and Medium-Sized Business Recovery Grant program does just that by investing up to $300 million in financial support to BC businesses that employ between 2 and 149 BC residents and have experienced a decline in revenue since March 10, 2020.


New Temporary Flat Rate Method for Claiming the Home Office Expenses Deduction Introduced by the CRA

With more and more Canadians working from home due to the COVID-19 pandemic, the Canada Revenue Agency (CRA) has simplified the way employees can claim the home office expenses deduction on their personal tax return for the 2020 tax year by way of a new temporary flat rate method. Employees with larger claims for their home office can still utilize the detailed method to calculate their home office expenses deduction.



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