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(Released April 14, 2020) Update Eligibility Criteria for the Canada Emergency Wage Subsidy An eligible employer to receive the 75% CEWS benefit includes: • an individual; • a corporation (other than a tax-exempt corporation or public institution); • a registered charity (other than a public institution); • a person that is tax-exempt because of paragraph
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(Released April 6, 2020) As we head into the second week of April, businesses, charities/NPOs and individuals will have access to several of the Federal government’s COVID-19 response initiatives. With that in mind, we wanted to provide an update on eligibility criteria, benefits, and logistics of the following measures: 10% Temporary Wage Subsidy; and Canada
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(Released April 3, 2020) Advice for Your Business During the COVID-19 Pandemic based on Federal and Provincial Economic Response Measures We continue to monitor the Federal and Ontario government announcements on an hourly basis. As both governments work through the COVID-19 pandemic, we understand the need for communication to help alleviate any anxiety you may
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(Released April 2, 2020) As mentioned in our initial March 30, 2020 newsletter, Hogg, Shain & Scheck will provide updates between weekly newsletter releases on days of major announcements or for matters of particular interest to clients. With that in mind, this update covers: new details and guidance for the Canada Emergency Wage Subsidy filing
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COVID-19 TAX UPDATE Tax Filing and Payment Extensions and Other Filing Relief Measures in Response to the COVID-19 Pandemic (Released March 31, 2020) The Canadian government has announced several measures to help taxpayers during these challenging times by providing extensions for filing and payment of taxes for business, Charities/NPO, individuals, partnerships, and trusts. To help
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COVID-19 TAX UPDATE Federal and Ontario Governments Economic Response Measures to COVID-19 (Released March 30, 2020) The Canadian and Ontario governments have pledged over $124 billion to fight the COVID-19 pandemic through announcements made up to March 30, 2020. Many of the programs and initiatives are geared towards keeping the economy moving by assisting businesses,
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What is the Canada Emergency Response Benefit (CERB)? On March 25, 2020, the government proposed legislation to establish the Canada Emergency Response Benefit (CERB). This taxable benefit would provide $2,000 a month for up to four months for workers who lose their income as a result of the COVID-19 pandemic. The CERB would be a
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On March 27, 2020, the Prime Minister announced additional economic measures in response to the COVID-9 pandemic. Canadian Governments COVID-19 Economic Response Measures Include: 1. Wage Subsidies An increase in wage subsidies to 75% for qualifying businesses, for up to 3 months, retroactive to March 15, 2020. The government is hoping employers can keep
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On March 25, 2020, the Ontario government announced a $17 billion plan to protect businesses, households, and public services from the financial fallout of the novel coronavirus. These measures include the following: Ontario’s economic response measures include the following: Five-month relief for Ontario businesses who are unable to file or remit select Provincial taxes Employer
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On March 18, 2020, the Government of Canada announced a temporary wage subsidy for a period of three months. This temporary measure will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). An eligible employer is: A Canadian-controlled private corporation (CCPC); A non-profit organization;
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The Charities Directorate is extending the filing deadline to Dec 31, 2020, for all charities with a Form T3010, Registered Charity Information Return due between March 18, 2020 and December 31, 2020 Read more on the Canadian Revenue Agency Website
We continue to closely monitor the evolving COVID-19 situation, ensuring the health and safety of our team and clients, who remain our top priorities. As a result of these unprecedented times, effective Monday, March 16, 2020 we made the decision to close our offices. Our teams will work remotely and are still available. We have full
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