The federal government continues to enact measures to address the economic disruption caused by the COVID-19 crisis, this time announcing yet another extension of tax payment due dates for 2019 tax returns. Individuals, corporations and trusts will now have until September 30th, 2020, to pay outstanding current-year tax balances. The previous payment deadline was September […]
News today that the federal government is, indeed, considering changes to the new Canada Emergency Wage Subsidy to aid organizations struggling in the wake of the COVID-19 crisis, was lauded by many in the business community. As we reported previously, the $71 billion program would provide a subsidy of up to 75 per cent of […]
It’s challenging to design a multibillion-dollar piece of legislation at the best of times. Factor in the raging global coronavirus pandemic, a collapsing national economy and a business community in desperate need of support due to COVID-19 business closures, and we can all appreciate the uphill battle facing the federal government as it works to […]
The federal government today announced tax filing extensions to help individual Canadians and businesses manage through the COVID-19 crisis. Businesses, including self-employed individuals, will be allowed to defer GST/HST payments, as well as custom duties on imports, until June 30, 2020. The deferral generally applies to remittances that would be due between March and the […]
The federal government has proposed a staggering set of measures to help individual Canadians and businesses cope in the face of the COVID-19 pandemic. One of the most significant programs announced thus far is the Canada Emergency Response Benefit (CERB). The program will merge and enhance the previously announced Emergency Care Benefit and the Emergency […]
The federal government told Canadians that absolutely every option was on the table as it took steps to mitigate the economic devastation wrought by the COVID-19 outbreak. Today’s announcement of enhanced relief measures to aid small- to medium-sized businesses underscores Ottawa’s determination to keep businesses afloat in the face of an unprecedented pandemic—not to mention […]
The COVID-19 crisis and ensuing shutdown of entire economies across the globe has sent governments scrambling to respond. From providing aid to individuals to supporting devastated businesses, stimulus packages have been organized at an unprecedented pace to boost market liquidity, mitigate shocking spikes in unemployment and stave off an even more widespread recession. It’s in […]
As the federal government rolled out a sweeping package of stimulus measures this week to cushion the economic blow from the COVID-19 epidemic, business owners across Canada immediately sought information as to how they could quickly access the new relief programs. The urgency has been heightened by complete shutdowns across some sectors such as hospitality, […]
Our management team has been closely monitoring the rapidly-evolving coronavirus situation and assessing our response on a daily basis. As we noted previously, we took several steps this week to ensure the health and safety of our clients, employees and other partners—including pausing all in-person meetings and staff visits to client sites, and allowing staff […]
The federal government’s announcement Wednesday of an $82 billion stimulus package to offset the devastating economic impact of the COVID-19 outbreak provided a modicum of reassurance to Canadian businesses. Ottawa’s message was simple: we’re here for you in tough times. The package introduced $27 billion in direct support for businesses and individuals, as well as […]
Copyright KRP LLP 2020
KRP LLP is a proud member of Russell Bedford International – a global network of independent professional services firms