GENERAL COVID RELIEF INFORMATION
July 28, 2020
Payment Due Date Extended
The government has announced that the payment due date for current year individual, corporate and trust income tax returns has been extended from September 1, 2020 to September 30, 2020. Penalties and interest will not be charged if payments are made by the extended deadline. This includes the late-filing penalty as long as the return is filed by September 30, 2020.
May 26, 2020
Since our last update on May 4, 2020, the federal government has extended and expanded certain previously announced COVID-19 economic measures, as well as clarifying program rules and administrative issues through the Frequently Asked Questions section of CRA’s website.
One-time OAS/GIS Payment
On May 21, 2020, Service Canada updated their website to note the following regarding the one-time OAS/GIS payments for seniors:
No application is required.
The one-time payments will be made as follows:
$300 for seniors eligible for the Old Age Security pension; and
an additional $200 for seniors eligible for the Guaranteed Income Supplement.
Payments will be made to individuals who are eligible to receive the OAS or GIS in June 2020
Individuals and their spouse or common-law partner will each receive $500 if both are receiving the GIS.
These one-time payments are non-taxable. Tax slips will not be issued and the amounts do not need to be reported for income tax purposes.
April 8, 2020
Update on COVID-19 Relief Measures
Since our last update on April 2, 2020, the Government has continued to adapt its COVID-19 relief measures to provide support for more Canadians. This week’s highlights are as follows:
The Canada Emergency Response Benefit (CERB) program is now up and running.
Owner-managers and their family members may now qualify for the CERB as non-eligible dividends are now included in the $5,000 prior income eligibility requirement.
More businesses may qualify for the 75% wage subsidy as the decline in revenue test for the month of March has been reduced from 30% to 15%.
Eligible employers under the 75% wage subsidy program may now qualify for a 100% refund of certain employer-paid contributions to CPP and EI.
Banks are now accepting loan applications from small businesses and not-for-profits for interest-free loans of up to $40,000 under the Canada Emergency Business Account (CEBA) program.
Please click on the link below to read our newsletter containing a summary of the COVID-19 relief measures that have been announced as of April 8, 2020. Appendix 1 summarizes the benefits and outlines the application process for each program.
March 30, 2020
Update on COVID-19 Relief
Measures As governments at all levels continue to adapt and respond to the challenges of supporting our economy while minimizing the impact of COVID-19, the following additional relief measures were announced last week:
Department of Finance Canada Introduces Canada Emergency Response Benefit (“CERB”)
March 21, 2020
Dear Valued Clients,
We wanted to provide an update regarding the measures we are putting in place in response to the spread of the COVID-19 virus. To further promote social distancing and protect the health and well-being of our clients and staff, we have decided to close our doors effective Monday, March 23.
Though our doors will be closed, we will maintain our drop-off locations and continue to provide access to our online portal. We are also happy to respond to inquiries by phone, video conference or email.
We ask that you provide documentation through our secure portal wherever possible. To log on to our secure portal click HERE. If we’ve scheduled an audit during the weeks ahead, we will be reaching out directly to discuss alternative options. You may also make payments online. Click HERE to securely make a payment for our services.
If you are symptom-free and have not returned from international travel in the last 15 days (and providing digital documentation is not an option), we ask that you bring your documents either to our Waterloo office at 490 Dutton Drive, Suite C3 or to our Elmira office at 9-11 Arthur St South- rear unit, where we will continue to provide drop-off locations for your convenience.
For Waterloo drop-off: The drop slot is located to the left of our front door. You can slide documentation that is already in an envelope through the slot for safe deposit. Alternatively, if you arrive without having documentation in an envelope, we have set up a drop location just inside the first set of doors in front of the rock wall. You may slide all documentation securely into an envelope and leave it in the drop box provided. Our reception area and access to the MAC LLP offices will be closed, but the drop-off boxes will be monitored.
For Elmira drop-off: If you are dropping your documents off in our Elmira location, please leave all necessary documents in the bin by our door and tap on the door to alert staff that you’ve left documents. The Elmira office will also be closed to the public during this time but the drop box will be monitored.
These measures will ensure we do our part to reduce the risk of transmission while continuing to provide you with services and support.
We thank you for your understanding and cooperation and look forward to keeping in touch remotely.
Yours very truly,
Gordon Ahier, Managing Partner
March 18, 2020
Please click the following link for recent information regarding the Government of Canada’s proposed economic measures:
