The Federal Government just announced details regarding the 75% wage subsidy that will help businesses keep their workers. This program is called the Canada Emergency Wage Subsidy. Please note that this is different from the temporary 10% wage subsidy previously announced by the Federal Government. Employers may be eligible for both the Canada Emergency Wage Subsidy and the 10% wage subsidy for a period. In other circumstances, some employers may not qualify for the Canada Emergency Wage Subsidy but may be able to qualify for the wage subsidy of 10% of remuneration. Please take note of the interaction of these 2...

What is the Canada Emergency Response Benefit (CERB)?The CERB is a taxable benefit that will provide $2000 for a 4-week period (equivalent to $500 a week) for up to 16 weeks for workers who lose their income because of the COVID-19 pandemic. The CERB is a combination of the previously announced Emergency Care Benefit and the Emergency Support Benefit. Who can apply?The CERB will be available to workers who:Are residing in Canada who are at least 15 years old;Have stopped working because of COVID-19 or are eligible for Employment Insurance regular or sickness benefits;Had income of at least $5,000 in 2019...

The Government has recently announced its action plan to help Canadians facing hardship as a result of the COVID-19 outbreak.  On March 18th, 2020, the Prime Minister announced economic measures that will provide $27 billion in direct support of Canadian workers and businesses. Here are some of the Income Support measures that are being implemented: - A one-time special payment by early May 2020 through the Goods and Services Tax Credit will be provided to low and modest-income families who may require additional help with their finances- An increase to the maximum annual Canada Child Benefit payment amounts, only for the 2019-20 benefit year,...

The Government has just announced that it will be providing greater flexibility for Canadian taxpayers amidst the COVID-19 outbreak. The CRA will be deferring the filing due date for the 2019 tax returns for individuals, including trusts. - The return filing due date for individuals will be deferred until June 1, 2020.  - The return filing due date for trusts having a taxation year ending on December 31, 2020 will be deferred until May 1, 2020.- Taxpayers will have until September 1, 2020 to pay any 2019 income tax amounts owed. (updated March 24, 2020). It is important to note that although the filing due...