A lot of Canadians are struggling as a result of the COVID-19 outbreak. The Federal Government has responded with several economic measures to support individuals and businesses. Other organizations including financial institutions have stepped up as well to provide resources to those who are struggling. KD has compiled a list of all available support and help that you as an individual or as a business owner can access during these hard times. We have also included measures that the Alberta Government has announced to help Alberta residents and businesses who are struggling during at this time. Important note: As the situation...

As mentioned in our previous blog, the CRA has announced that the tax filing and payment deadlines have been deferred. The tax filing deadline is now June 1, 2020 and any 2019 taxes owing must be paid by September 1, 2020.Here are some more updates you need to know as the COVID-19 situation continues to change: - The Charities Directorate is extending the filing deadline to December 31, 2020 for all charities with a Form T3010, Registered Charity Information Return due between March 18, 2020 and December 31, 2020.- For trusts with a taxation year end of December 31, 2019, the...

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...