Category Archives: Taxation

Canada Emergency Response Benefit

We will provide a taxable benefit of $2,000 every 4 weeks for up to 16 weeks to eligible workers who have lost their income due to COVID-19.

The CERB is available to workers who meet all of the following conditions:

  • live in Canada and are at least 15 years old
  • stopped working because of COVID-19 or are eligible for EI regular or sickness benefits
  • have not voluntarily quit their job
  • had income of at least $5,000 in 2019 or in the 12 months prior to the date of their application.

 

On April 15, we announced changes to the eligibility rules to:

  • Allow people to earn up to $1,000 per month while collecting the CERB.
  • Extend the CERB to seasonal workers who have exhausted their EI regular benefits and are unable to undertake their regular seasonal work because of COVID-19.
  • Extend the CERB to workers who have recently exhausted their EI regular benefits and are unable to find a job because of COVID-19.

 

An online questionnaire will help us direct you to the service option that best fits your situation (i.e. eligibility for Employment Insurance benefits or not).

Do not apply for the CERB if you have already applied for EI.

You can also apply over the phone: 1‑800‑959‑2019 or 1‑800‑959‑2041

CLICK BELOW TO APPLY:

https://www.canada.ca/en/services/benefits/ei/cerb-application.html

 

Canada Emergency Wage Subsidy

CANADA EMERGENCY WAGE SUBSIDY (75%)

The government is proposing a 75% wage subsidy, up to a maximum of $847 per week for each eligible employee. The subsidy would be available for qualifying businesses who have suffered a decline of 30% in monthly revenue for a period of 3 months (March 2020 through May 2020).

The Canada Emergency Wage Subsidy (CEWS) supports employers that are hardest hit by the pandemic, and protect the jobs Canadians depend on.

The subsidy covers 75% of an employee’s wages – up to $847 per week – for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15% in March, and 30% in April and May.

The program will be in place for a 12-week period, from March 15 to June 6, 2020.

Employers eligible for the CEWS are entitled to receive a 100% refund for certain employer contributions to Employment Insurance, the Canada Pension Plan, the Quebec Pension Plan, and the Quebec Parental Insurance Plan paid in respect of employees who are on leave with pay. For employers that are eligible for both the CEWS and the 10% Temporary Wage Subsidy for a period, any benefit from the Temporary 10% Wage Subsidy for remuneration paid in a specific period will generally reduce the amount available to be claimed under the CEWS in that same period.

For businesses that don’t qualify for the 75% subsidy, there is an alternative 10% subsidy for businesses (a person – including a CCPC – or a partnership) with CRA Payroll Account (Business Number with an RP0001 extension) that existed as at March 18, 2020.

The Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA) by 10%, to a maximum of $1,375 per employee.

COVID 19 Support for Families

The Federal Government has announced emergency support for individuals and families:

  1. Increases to the Child Tax Benefit will be automatically be adjusted for families receiving the benefit.
  2. A one-time special payment for recipients of the GST credit will be sent automatically

In addition, the filing deadline for personal tax returns has been extended from April 30th to June 1st.

More details can be found online:

https://www.canada.ca/en/department-finance/economic-response-plan.html#individuals