Category: Covid-19

Covid-19

NEW T4 REPORTING REQUIREMENTS AND OTHER ANNOUNCEMENTS

New T4 reporting requirements For the 2020 tax year, the CRA will be introducing additional reporting requirements for the T4 slips. The new requirements will be used to validate payments under the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Response Benefit (CERB) and the Canada Emergency Student Benefit (CESB). In addition to reporting employment […]

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Covid-19

THE CANADIAN GOVERNMENT ANNOUNCES NEW MEASURES, BENEFITS AND EXTENSIONS THROUGH THE NEXT PHASE OF THE ECONOMY REOPENING

On August 20, 2020, the Canadian government announced new measures as the government slowly reopens the economy. On September 27, 2020, new measures will be effective as the government will be transitioning from the Canada Emergency Response Benefit (CERB) to a simplified Employment Insurance (EI) program. Extension of the Canada Emergency Response Benefit The CERB […]

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Covid-19, Taxation

CANADA EMERGENCY WAGE SUBSIDY: IMPORTANT PROPOSED CHANGES

On July 17, 2020, the federal government announced it is proposing a further extension of the Canada Emergency Wage Subsidy program (“CEWS”) until December 19, 2020. New CEWS Rules starting July 5, 2020 Effective July 5, 2020, the CEWS will consist of two parts: a base subsidy available to all eligible employers that are experiencing […]

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Covid-19

CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE PROGRAM (CECRA) – GST/HST & QST IMPLICATIONS

As part of Canada’s Covid economic response, the federal government adopted an urgency measure for commercial landlords and tenants; the Canada Emergency Commercial Rent Assistance (CECRA) program. The CECRA program provides for eligible commercial property owners to reduce the rent owed by their impacted qualifying small business tenants. Property owners must however offer a minimum […]

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Covid-19

Credit for Contributions to the Health Services Fund in Respect of Employees on Paid Leave Due to the COVID-19 Pandemic

To complement the Canada Emergency Wage Subsidy, a credit on employers contribution to the Health Services Fund will be established for employers that can benefit from the Canada Emergency Wage Subsidy and that maintain an establishment in Québec. The credit on employers contribution to the Health Services Fund will be granted for a period of […]

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Covid-19

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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Covid-19

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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Covid-19

Canada Emergency Wage Subsidy (CEWS) tool introduced

On April 21, 2020, the federal government has released the Canada Emergency Wage Subsidy calculator to support employers as they prepare to apply for the CEWS. The CEWS calculator and other information can be found on the CRA’s Canada Emergency Wage Subsidy page. [https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy.html]. The web page outlines who can apply for the subsidy, how […]

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Covid-19

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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