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On Wednesday, Prime Minister Justin Trudeau announced the federal government will extend the current rate of the Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS) programs through to June. Rates for the Lockdown Support program, which...

The April 30, 2021 deadline to file your 2020 personal income tax return is quickly approaching. As a result of changes in tax laws and the ever-increasing complexity in preparing personal tax returns, please gather your required tax information (as outlined in...

The April 15, 2021 deadline to file your 2020 U.S. Form 1040 – U.S. Individual Income Tax Return is quickly approaching. However, if you reside outside the U.S. on April 15, 2021, the deadline to file your 2020 U.S. From 1040 is automatically extended to June 15,...

As you are likely aware, Federal, Provincial and Municipal mandates have significantly limited our ability to meet in-person to collect your 2020 personal income tax information. While we recognize this as a lost opportunity to catch up with all of our valued clients,...

On Thursday, January 28, 2021, Minister of Small Business, Export Promotion and International Trade, Mary Ng, announced the launch of the Highly Affected Sectors Credit Availability Program, or HASCAP. The program will provide financial support to businesses that have...

In order to assist you with your 2020 and 2021 tax planning, we are pleased to provide you with the following information in connection with Registered Retirement Savings Plans (RRSP) and Tax-Free Savings Accounts (TFSA) as follows: RRSP The maximum contribution limit...

In order to facilitate the accurate preparation of your 2020 T4 information returns, we are pleased to enclose a summary of certain taxable benefits that may apply to your employees, including new information for 2020 filings. For further information, please click...

The Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) applications are due on or before the later of: January 31, 2021; and180 days after the qualifying period. This means that the CEWS claim periods 1 through 5 are due to be filed on or...

The Ontario government continues to provide a variety of supports to employers facing challenges as a result of COVID-19. The government will now be providing even more support to small businesses that are required to close or severely restrict their operations due to...

This year has been filled with unprecedented challenges due to the COVID-19 pandemic. Many Canadians unexpectedly had to work from home which resulted in millions of Canadians setting up their work space in their kitchens, bedrooms and living rooms. In response, the...

On November 30, 2020, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released Supporting Canadians and Fighting COVID-19: Fall Economic Statement 2020. The economic statement does not change personal or corporate income tax rates, but...

Lipton LLP is proud to announce that Emily Chen was successful in passing the 2020 Chartered Professional Accountants of Canada (CPA) Common Final Examination (CFE).   The CFE is the final examination that Chartered Professional Accountant (CPA) students take in...