Canada’s Financial Support During the COVID-19 Pandemic
May 15, 2020
The Canadian federal government has announced, in addition to extensions to some filing and payment deadlines, a number of measures to financially help Canadian individuals and businesses survive the economic impact of the COVID-19 pandemic. In addition to the extended filing and payment deadlines, several programs were created to support individuals, businesses and specific sectors: Limited Wage Subsidy, The Canada Emergency Wage Subsidy, The Canada Emergency Business Account, The Canada Emergency Commercial Rent Assistance Program, The Business Credit Availability Program, The Large Employer Emergency Financing Facility, The Canada Emergency Response Benefit and The Canada Emergency Student Benefit...
March 27, 2020 Update to COVID-19 Related Tax Extensions
March 27, 2020
In response to queries regarding filing matters that seemed not to be addressed in the CRA’s previously announced tax filing and payment extensions on March 27, 2020 the CRA issued welcome clarifications. The CRA has agreed to defer to June 1, 2020 a number of additional administrative tax actions that are due after March 18, 2020. The March 27, 2020 CRA release states that, unless otherwise noted, the administrative actions to which the extension applies “include the filing of returns, forms, elections, designations and responses to information requests”. The CRA has summarized their updated positions in a schedule on their website...
March 24, 2020 Update of COVID-19 Related Tax Extensions
March 24, 2020
The CRA has updated its table of payment and filing extensions. Please note that, contrary to the date mentioned in the government’s prior release about extensions, tax payments for many entities are now confirmed to be due “by September 1, 2020” rather than “After August 31, 2020”. Of important note is the fact that there are, currently, no extensions to the following filing due dates...