The You First Blog

What happened this week? Wage subsidy rules amended – March revenue decrease threshold will be only 15%. 4 million Canadians on federal income support since March 15 (combination of EI and CERB applications as of April 7) Alberta government forecasting 25% unemployment rate for the province Prime Minister Trudeau “this will be the new normal… Read More

One of the provisions in the federal government’s aid package is a 25% reduction in the minimum amount (MAP) that must be withdrawn from a Registered Retirement Income Fund (RRIF) in 2020.  This is welcome relief for retirees who may have seen a decline in the value of their RRIFs since December 31, 2019, which… Read More

The Globe & Mail published a timely article yesterday about the potential deductions available for employees who have shifted to working from home due to COVID-19. Our interpretation is consistent with the article.  You should be able to deduct a prorated amount of your home office costs as an employment expense.  The costs will differ… Read More

You can read Part I of our Coronavirus coverage here You can read Part II of our Coronavirus coverage here You can read Part III of our Coronavirus coverage here You can read Part IV of our Coronavirus coverage here Click here for a summary of all cash flow solutions made available by companies or… Read More

Prime Minister Justin Trudeau spoke this morning and unveiled the Canada Emergency Response Benefit (CERB).  The CERB will amalgamate the two previously announced benefits: Emergency Support and Emergency Care Benefit.  This program is meant to provide an EI-like income for those who don’t normally qualify for EI.  Those able to apply for the CERB are… Read More