New! Applications for the CEWS will be open on April 27. Be ready to apply for the CEWS. Please read the new information and consider using CRA’s calculator spreadsheet. Click here to read more about the Canada Emergency Wage Subsidy.
On April 16, Prime Minister Justin Trudeau announced changes to the CEBA, expanding the program to make it available to more Canadian businesses. The minimum threshold for 2019 payroll has been lowered to $20,000 (from $50,000) and the maximum increased to $1.5 million (from $1 million). To read updates about the Canada Emergency Business Account click here.
On April 11, 2020, Finance Minister Bill Morneau introduced in Parliament Bill C-14, the COVID-19 Emergency Response Act, No. 2, which received Royal Assent, bringing this measure into law. The improvements to the Canada Emergency Wage Subsidy, also known as CEWS or the 75% subsidy, are as follows: To measure their revenue loss,… Read More about “Canada Emergency Wage Subsidy- Update”
On April 9, 2020, the government announced that small businesses and not-for-profit organizations can apply for support from the Canada Emergency Business Account through their banks and credit unions. Details: CEBA will provide qualifying businesses and not-for-profit organizations a loan of up to $40,000 to help cover their operating costs… Read More about “Canada Emergency Business Account”
On April 8, 2020, The Government of Canada is taking immediate, significant and decisive action to support Canadians and employers facing hardship as a result of the global COVID-19 outbreak. The government proposes the following additional flexibilty: To measure revenue loss, it is proposed that all employers have the flexibility… Read More about “Canadian Emergency Wage Subsidy- Update”
Since the beginning of March, restrictions and measures related to COVID-19 have rapidly escalated. On March 18, 2020, the Government of Canada announced a series of mesaures designed to help Canadians. Since then, new possibilities have been introduced and old ones have been adjusted. Click here to read a summary… Read More about “COVID-19 Financial Relief for Canadians- summary”
We have been proactively taking measures to limit the spread of COVID-19, and are continuing to restrict access to our office to only Ritchie Shortt Tully & LLP team members until further notice. We understand you may have some questions, as our normal process has changed, during this unprecedented time…. Read More about “Ways to drop off your tax information to our office”
While schools and child care centres are closed, parents can apply for direct funding to offset the cost of buying materials to support their children’s learning, while they practice self-isolation and physical distancing. There is no income cap on this program. Eligible parents will receive a one-time per child payment of:… Read More about “Support for families”
My Business Account is a secure online portal that provides an opportunity to interact electronically with Canada Revenue Agency on various business accounts. Business accounts include GST/HST (except for GST/HST accounts administered by Revenu Québec), payroll, corporation income taxes, excise taxes, excise duties, and more. To get access, you will need:… Read More about “How to register for CRA My Business Account”
On April 1, 2020 the government released further information about The Canada Emergency Wage Subsidy that will help businesses keep and return workers to their payroll. This will provide a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020. Eligible employers include individuals,… Read More about “75% Wage Subsidy- Additional Information”