Black Swan #3 – Is this pandemic tax deductible?

BetaKit podcast

It was a tough week.

Last Thursday, Canadian tech woke up to the cold reality that the 75 percent federal wage subsidy wasn’t for them. There are multiple concerted efforts to change that, but it seems as though the Prime Minister’s hope that the ecosystem would forego layoffs and possibly re-hire employees was shortlived.

“You can cross your fingers and hope that the government will help. But if they don’t, then what? I think you have to be prepared for ‘if they don’t, then what’?”

Despite that fact, there are still several mechanisms available to companies, as well as those recently laid off. The CPAs at LiveCA, familiar working with Canadian tech companies, join to walk through each option. They also provide some advice on how to move forward in the instance that none of the new support systems apply to your company, and discuss the difficulty of functioning in an advisory capacity when the ground rules change almost daily.

It was a tough week.

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Hosted by Douglas Soltys & Rob Kenedi. Edited by Kattie Laur. Produced with support from TWG.

Douglas Soltys

Douglas Soltys

Douglas Soltys is the Editor-in-Chief of BetaKit and founder of BetaKit Incorporated. He has worked for a few failed companies and written about many more. He spends too much time on the Internet.