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The Government of Ontario recently tabled its 2020 Budget. Highlights are outlined below: Corporate Tax: Corporate Tax Rates No new corporate income tax rate changes were announced in this year’s budget. As a result, selected combined 2020 federal and Ontario tax...

The government introduced the Canada Emergency Wage Subsidy to protect Canadian jobs, encourage employers to quickly rehire workers previously laid off because of COVID-19, and help bridge the Canadian economy to the other side of this unprecedented crisis. The wage...

The Government of Canada has now introduced draft legislation that includes the new Canada Emergency Rent Subsidy (CERS) and the Lockdown Support Subsidy. The application process for these new subsidies is not yet available. Under these proposed provisions,...

On October 9, 2020 the Government of Canada announced that it will be extending the Canada Emergency Wage Subsidy, creating a new Canada Emergency Rent Subsidy program, and expanding the Canada Emergency Business Account.  Canada Emergency Wage Subsidy  The government...

On July 1, 2020 the government's prescribed interest rate will decrease from its current two percent to one percent. In some cases, this can provide a tax planning opportunity to split income with a spouse or common-law partner, children, grandchildren or other family...

Finance Minister Bill Morneau today announced that the Government of Canada will extend the CEWS by an additional 12 weeks to August 29, 2020. Extending the program will give workers greater confidence that they will continue to get the support they need during these...

As the COVID-19 pandemic continues, it is having a significant impact on many businesses, including operating losses as a result of closures, reduced operations and other unforeseen expenses. These businesses should consider reviewing their insurance policies,...

Beginning April 27th, applications will be open for the Canada Emergency Wage Subsidy.  For those who are eligible, most businesses may apply using My Business Account. If you represent a business, you may apply using Represent a Client. Alternatively, on April 27th...

On April 16, 2020 the Government of Canada announced changes to the Canada Emergency Business Account and introduced the Canada Emergency Commercial Rent Assistance program. Canada Emergency Business Account (CEBA) The CEBA allows banks and credit unions to lend up to...

On April 11, 2020, the Federal government's $73 billion wage subsidy legislation received Royal Assent and was passed into law. What It Means for Canadian Employers The new Canada Emergency Wage Subsidy (CEWS) provides a 75% wage subsidy to eligible employers for up...

On April 8, 2020, changes were announced to the eligibility criteria for employers to claim the Canada Emergency Wage Subsidy (the Subsidy). In summary, the proposed changes include the following: When measuring revenue loss, eligible employers can either compare...

GST/HST Update - Payment & Filing Deadlines The CRA has now released additional details on GST/HST relief for businesses. While the GST/HST remittances and payments due on or after March 27, 2020 and before June 2020 may now be deferred to the end of June 2020,...