Small Business Tax Changes in 2023
Tax season is here again, and with it are some changes that Canadian small business owners need to know. With any new update, we recommend reviewing what has been implemented in previous years to ensure you know what exactly is changing and what that means for your small business. Below are some changes and additions that could apply when filing your taxes this year. WAGE AND RENT SUBSIDIES FOR BUSINESSES Between March 15, 2020 to May 7, 2022, the Canada Revenue Agency (CRA) provided wage and rent subsidies to support wage and rent-related expenses during the COVID-19 pandemic for various businesses, charities, etc. It is important to note that as of November 4, 2022, you can no longer apply for the subsidies if you did so during tax time......
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