Nov
26

Updates for Periods 5 to 10 of the Canada Emergency Wage Subsidy (CEWS)

CEWSupdate
The rules of the CEWS have been modified for periods 5 (July 5, 2020 to August 1, 2020) to 10 (November 22, 2020 and ends on December 19, 2020) with transitional rules available for periods 5 and 6. For periods 5 to 10 (starting July 5 to December 19, 2020), the CEWS has been adjusted to allow access to all eligible employers that have experienced a decline in revenue for a claim period, with a base wage subsidy amount and an additional top-up wage subsidy amount for those employers that have been adversely affected by the pandemic. Also, for periods 5...
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Nov
09

Canada Emergency Rent Subsidy (CERS)

CERS
UPDATE:  Starting November 23, 2020, businesses can start applying for the CERS.  For more information, please go to the official CERS page, https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-rent-subsidy.html  The Federal Government has announced the details of the Canada Emergency Rent Subsidy that will apply to its first 12 weeks of implementation (until December 19, 2020). Note that this new rent subsidy is available retroactive to September 27, 2020 until June 2021. The Canada Emergency Rent Subsidy (CERS) is a new program that would provide benefits directly to qualifying renters and property owners without the participation of landlords. Eligible organizations that have suffered a revenue drop would be...
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Oct
02

CRA Resuming Business Activities

Information
The CRA announced it has resumed some business activities last September 2020. These activities include the following: • Appeals – The CRA’s dispute resolution and taxpayer relief programs are resuming operations. CRA is now contacting taxpayers who filed objections or CPP/EI appeals to the Minister or who applied for relief of penalties and interest. CRA will also start activating CPP/EI rulings this September. • Business Audits –The CRA’s business audit will focus on complex and aggressive tax planning arrangements using partnerships and trusts by sophisticated and high income earners and audits in the real estate sector to address non-compliance in Vancouver...
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Oct
02

CRA’s Update on Cyber Attack Incidents

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The CRA has released an update regarding the recent cyber attacks involving thousands of CRA accounts. Here is a summary: • CRA continues to cooperate with the RCMP in its ongoing investigations• Affected individuals will receive a letter from the CRA explaining how to confirm their identity and reactivate their account. Credit protection services will also be offered for free. • In some cases, applicants may be asked to call the CRA before receiving their next benefit payment and supporting documents may be requested. • The link between CRA’s My Account and My Service Canada Account continues to be disabled.• Updated...
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