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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 confidence that we will continue to operate and support our team and clients as effectively as we normally would.
Please do not hesitate to contact us for any guidance or questions.
Deadline for CEWS Applications for Periods 1 Through 5 Please note that January 31, 2021 is the deadline for applying for CEWS for the Periods 1 through 5 (March – July 2020). These claim periods will be closed after January 31, 2021. Deadline for CEWS Applications for Period 6 Commencing with Period 6 (August 2020),
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The COVID-19 pandemic has resulted in many employees working from home. As a result, working-from-home tax deductions on their 2020 personal income tax returns has become a hot topic. On December 15, 2020, the CRA released information on a number of employment-related issues, including home office expenses and Form T2200. Highlights of the CRA release on home office
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On December 15, 2020, the Canada Revenue Agency (CRA) released information on a number of employment-related issues in response to the effects of the COVID-19 pandemic, including employer provided taxable benefits and allowances. These positions are effective from March 15, 2020 to December 31, 2020. Commuting Costs (including parking) The CRA has always taken the
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On December 21, 2020 the Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2021 in response to the COVID-19 pandemic. Changes to the Automobile Deduction Limits in 2021 There is only one change to the automobile deduction limits and benefit rates that applied in
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Financial Support and Resources for Business in Ontario and Canada Federal and provincial government financial supports: Government Support for businesses Ontario-Canada Emergency Commercial Rent Assistance Program Canada Emergency Rent Subsidy (CERS) Canada Emergency Wage Subsidy (CEWS) program: The Canada Emergency Wage Subsidy (CEWS) covers 75% of an employee’s wages – up to $847 per week
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(Released April 21, 2020) Today, the Federal government finally provided details about the Canada Emergency Wage Subsidy. There have also been updates announced to some of the initiatives that have already taken effect. With that in mind, we wanted to provide the latest on the following economic response measures: Canada Emergency Wage Subsidy; Emergency Community
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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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