Entries by Ashley Kyle

Canada Emergency Business Account

At the beginning of COVID-19 the Canadian Government introduced the Canada Emergency Business Account (CEBA). This is a helpful tool for businesses that are short on cash-flow due to the on-going pandemic.  CEBA is an interest-free loan of up to $40,000 from the Canadian Government that is administered through your bank. If you pay it […]

Climate Action Incentive

On January 1, 2020 the federal government instituted a carbon tax in Alberta. To help offset the amounts paid, they have also introduced the Climate Action Incentive for Alberta residents.    Alberta is not the only province that this incentive has been introduced in. Residents in Saskatchewan, Manitoba, and Ontario will also see it this […]

COVID-19 Update

To our valued customers,   COVID-19 is at the forefront of all our minds as the outbreak continues to spread. On-Core would like to assure you that we are closely monitoring the situation and acting based on all recommendations from the Public Health Agency of Canada. The health and well-being of staff and clients are […]

EI 2020

EI rates have been announced and will again be changing in 2020. The amount of EI you will need to pay has actually decreased slightly this year.    Below is a chart showing both the 2020 and 2019 EI information.    2020 2019 Maximum Annual Earnings $54,200 $53,100 Contribution Rate 1.58% 1.62% Maximum Annual Employee  […]

Record of Employment

One of your payroll obligations is to create a Record of Employment (ROE) for your employees when there is an interruption in earnings. It is the document used by Service Canada when someone has applied for EI (this includes maternity leave).  Some employers are not aware of their requirement to file a ROE, which can […]

TFSA

A Tax-Free Savings Account is a useful tool in your savings arsenal. However, many people do not understand that there are rules to how much you can contribute to a TFSA each year. If you over contribute the CRA can and will charge you a tax. This post will cover FAQs about TFSAs. Including, what […]

CPP 2020

CPP rates have been announced and will again be changing in 2020, this is part of the first phase of the CPP enhancement program started by the government in 2019.    Below is a chart showing both the 2020 and 2019 CPP information.    2020 2019 Maximum Annual Pensionable Earnings $60,100 $57,400 Basic Exemption $3,500 […]

Do you need to make installments?

Whether business or personal, everyone knows that the time will come when they must pay the CRA. However, what may surprise you is that the CRA sometimes demands their money in installments. You need to be prepared to make these installments, or the CRA will charge you interest and penalties. Below are the thresholds to […]