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 (CEWS).Extension to August 29, 2020:  The Federal Government announced that it will extend the CEWS) by an additional 12 weeks to August 29, 2020 instead of the previously announced end date of June 6, 2020.  (Update as of May 15, 2020)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...

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...