James Rhodes

Watch! CEWS - A Big Tip for Restaurants

Restaurants have been hit extremely hard during the pandemic. Like most of you, we wanted to do as much as we could to support them as well. Since our qualifications in menu and restaurant design are low, we thought we’d focus on something that we do know about: the Canada Emergency Wage Subsidy (CEWS).

There is one huge piece of the pie that we’ve noticed most restaurants are missing out on; claiming CEWS on tips that are received and redistributed to employees. In this clip, we discuss how it works and what is needed with tax lawyer James Rhodes, a knowledge contributor to Restaurants Canada.

Resources:

CRA policy and definition of controlled tips

CEWS (Canada Emergency Wage Subsidy) policy on tips

This video is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2021, All Rights Reserved.