Important CEWS Deadline Reminder
- Details
- Published: Tuesday, 05 January 2021 16:16
Phone: (403) 934-3176 Toll Free: 1-866-934-3176 Fax: (403) 934-3182 Client Portal
As the holiday season begins, we would like to take this opportunity to say THANK YOU to all of our clients. 2020 has been an interesting year and has presented us all with some serious unexpected challenges and we want to let our clients know that we are here to help you navigate these uncharted waters.
If you or your business has been impacted by the COVID-19 pandemic, you will likely be aware of some of the major economic benefit programs established by the Federal government, including the Canada Emergency Response Benefit (CERB), Canada Emergency Wage Subsidy (CEWS), and Canada Emergency Business Account (CEBA).
These benefits, due to their wide availability and unprecedented extent of support provided, have been closely followed by the media and other tax reporting sources. There are several other smaller benefits and relief initiatives at both the federal and provincial levels of government that have received less attention, but nevertheless may help provide a much-needed boost to those in need of support to overcome the impacts of COVID-19. Here are a few of the lesser known benefits that taxpayers should be aware of and consider if they may be available to you.
December 31, 2020 is fast approaching… see below for a list of tax planning considerations. Please contact us for further details or to discuss whether these may apply to your tax situation.
In response to the COVID-19 emergency, and its significant impact on the well-being of Canadian individuals, businesses, and other organizations alike, both the Canadian federal government, and Alberta government have introduced measures intended to assist Canadians in getting through this difficult time. Many of the measures are financial in nature and widely available. The purpose of this article is to summarize some of the many important benefits introduced to date and provide some guidance on what you need to do to ensure that you or your business are taking full advantage of the relief available.
The Canada Revenue Agency recently confirmed that all employers who were eligible to claim the 10% Temporary Wage Subsidy for Employers (TWS) for the period of March 18 to June 19, 2020, will be required to complete and submit information regarding the subsidy claimed for each eligible payroll account either through the payroll section of their My Business account (under menu option “10% Temporary Wage Subsidy”), or by completing form PD27 “Temporary Wage Subsidy Self-Identification Form for Employers”.