Category: Taxation

Taxation

Avoiding fraud and identity theft in times of crisis

It’s said that a crisis brings out the best in people and, in most cases, that’s true. But there is a dark side to tough times, as fraudsters prey on people who are uncertain and looking for easy answers. Some fraudsters are using COVID-19 as a cover to launch new underhanded schemes to separate Canadians […]

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Taxation

The CRA’s Frequently Asked Questions on CEWS

On April 24, 2020, the Canada Revenue Agency (“CRA”) posted a list of frequently asked questions and answers (FAQs) regarding the Canada Emergency Wage Subsidy (“CEWS”) on their website. These FAQs address many common questions about the CEWS received by the CRA. We understand there are other questions to which the CRA is still developing […]

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Taxation

Indirect Taxes

Over the past month, the federal and provincial governments of Canada have announced various relief measures with respect to the filing and payment of indirect taxes. These measures were then subject to modifications and clarifications. Their objective is to help companies facing liquidity problems given the current crisis. We summarize these measures below. Goods and […]

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Taxation, Uncategorized

Canada Emergency Wage Subsidy part III

Canada Emergency Wage Subsidy The Canada Emergency Wage Subsidy (“CEWS”) provides up to a 75-per-cent wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020.? The parameters of the program are outlined below. Eligible Employers Eligible employers include: individuals taxable corporations partnerships consisting of eligible employers, non?profit organizations and registered […]

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Taxation

The Canada Emergency Wage Subsidy – Part II

What It Means for Canadian Employers The Prime Minister, Justin Trudeau, announced the new Canada Emergency Wage Subsidy on March 27, 2020. This would provide a 75-per-cent wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020. Eligible Employers Eligible employers would include individuals, taxable corporations, partnerships consisting of eligible […]

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Taxation

Canada Emergency Wage Subsidy

The Government is proposing to introduce a wage subsidy of 75 per cent wage for qualifying businesses, for up to 3 months, retroactive to March 15, 2020. Eligibility Requirements Employers of all sizes and across all sectors of the economy would be eligible, with the exception of public sector entities. Eligible employers would include individuals, […]

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Taxation

COMPLIANCE SUM UP TABLE

Here are the key benefit programs from the Federal and Provincial government available due to the COVID-19 crisis. Consult our article to find out more! DOWNLOAD ARTICLE

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Taxation

2020 Ontario Economic and Fiscal Update

Business Tax Measures Regional Opportunities Investment Tax Credit The proposed new Regional Opportunities Investment Tax Credit is a 10% refundable corporate income tax credit that will be available for: CCPCs making qualifying investments that become available for use after March 24, 2020 in specified regions of Ontario qualifying expenditures exceeding $50,000, up to a maximum […]

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Taxation

COVID-19 UPDATE: ADDITIONAL MEASURES FROM THE CANADA REVENUE AGENCY

Administrative Income Tax Measures In addition to the income tax filing and payment deadline extensions announced as part of the fiscal measures, unless otherwise noted, taxpayers may defer a number of other administrative tax actions required under the Income Tax Act (“ITA”) that are due after March 18, 2020, until June 1, 2020. These administrative […]

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Taxation

CANADA EMERGENCY RESPONSE BENEFIT (CERB)

The Canada Emergency Response Benefit (“CERB”) is replacing the previously announced Emergency Care Benefit and Emergency Support Benefit programs. Details This taxable benefit would provide $2,000 per month, for up to four months, to workers who lose their income as a result of the COVID-19 pandemic. The portal for accessing the CERB would be available […]

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