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The Government of Canada has announced an extension for the repayment and partial loan forgiveness deadlines for the Canada Emergency Business Account (CEBA). This is welcome news for businesses still navigating the financial challenges of COVID-19. The deadline for repayment to qualify for partial loan forgiveness has been extended further, giving businesses additional breathing room.
Repayment on or before the new deadline of January 18, 2024 (or March 28, 2024, if a refinancing application is submitted prior to January 18, 2024, at the financial institution that provided their CEBA loan), will result in loan forgiveness of $10,000 for a $40,000 loan and $20,000 for a $60,000 loan.
To learn more, please read the official press release on the Government of Canada website.
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]]>The post CEBA Loan Repayments appeared first on Bonfire Bookkeeping.
]]> The Government of Canada Canada Emergency Business Act (CEBA) loans will be due December 2023.
If you are a recipient of this loan, it is important that you start planning now for how you will pay it back. Meeting with your accountant can help you determine a plan to repay the loan amount so that you can keep the additional money for your business.
Repayment on or before the deadline of December 31, 2023, will result in loan forgiveness of up to a third of the value of the loans (meaning up to $20,000).
Don’t wait until the deadline approaches – make sure you have a plan in place now.
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Are you planning on hiring new employees soon? Wondering what steps you need to take to make sure you’re paying them fairly and legally?
Look no further than the National Payroll Institute’s hiring checklist to ensure that you don’t overlook any crucial steps in the hiring process.
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]]>The post CRA reaches Tentative Agreement appeared first on Bonfire Bookkeeping.
]]>The Canada Revenue Agency and the Public Service Alliance of Canada, Union of Taxation Employees (PSAC-UTE) have reached a tentative agreement, ending the strike affecting 39,000 represented employees of the Canada Revenue Agency (CRA).
Following this labour disruption, we will work to resume our operations. However, some CRA services may continue to experience delays.
Please consult the CRA website for ongoing updates.
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]]>The post CRA Labour Disruption Updates appeared first on Bonfire Bookkeeping.
]]>As a result of labour disruptions, many CRA services are expected to be delayed or unavailable, but filing deadlines have not changed.
Phone support is operating at reduced capacity, but services filed digitally will largely be processed automatically by the system without delay.
The availability of CRA contact centre services will be dependent on the type and duration of the labour action. Please consult the CRA website for ongoing updates.
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]]>The post Traction – Get a Grip on Your Business appeared first on Bonfire Bookkeeping.
]]>Traction offers a helping hand for beginning entrepreneurs and others whose businesses are stuck at a point where hard work and determination are no longer enough for them to survive and grow. Business owner and consultant Gino Wickman explains how to structure your business using his Entrepreneurial Operating System to remove typical frustrations, so it regains momentum, it runs seamlessly, and you don’t get mired in details. The system is based on practical experience, not theory. Numerous tools and templates lead business owners step by step through processes to create a structure and core focus that strengthen and reenergize their organizations.
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]]>The post Being Boss with Emily Thompson appeared first on Bonfire Bookkeeping.
]]>Being Boss® is an exploration of what it takes to be boss as a creative business owner, entrepreneur, freelancer, or side-hustler.
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]]>The post Clockwork: Design Your Business to Run Itself appeared first on Bonfire Bookkeeping.
]]>Clockwork explains how entrepreneurs can grow their enterprises without sacrificing their sanity. The trick is implementing smart systems and standard operating procedures that allow your business to run like clockwork without your constant input, freeing you up to tackle the challenges or embrace the opportunities that come your way.
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]]>The post Rocket Fuel appeared first on Bonfire Bookkeeping.
]]>Rocket Fuel shows that the best way to grow a business is by linking a “Visionary” up with an “Integrator”. While visionaries can see the future they are aiming for, integrators know how to get there. Companies can reach their goals faster and more efficiently by following in the footsteps of partnerships such as Walt and Roy Disney, who combined a visionary with an integrator to produce stellar results. The authors explain how you can tell if you are a visionary or an integrator and then how to use this knowledge to excel in your role.
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]]>The post On Purpose with Jay Shetty appeared first on Bonfire Bookkeeping.
]]>My name is Jay Shetty, and my purpose is to make wisdom go viral. I’m fortunate to have fascinating conversations with the most insightful people in the world, and on my podcast, I’m sharing those conversation with you.
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