COVID-19: Income Tax Filing and Payment Dates

The CRA has published the following table on their website, which summarizes what has changed, and what has not changed for filing and payment deadlines for various types of taxpayers. Income tax filing and payment dates: CRA and COVID-19 Individuals – Due dates Filing date for 2019 tax year June 1, 2020 extended Payment date for […]

COVID-19: Prime Minister Trudeau’s New Economic Relief Measures

On March 27, 2020, Prime Minister Trudeau announced new economic relief measures that the Government of Canada (“GOC”) is providing for small business in response to the Covid-19 pandemic. Wage Subsidy GST/HST and Customs Duties Payment Deferal Canada Emergency Business Account Small and Medium-sized Enterprise Loan and Guarantee program Previous Measures Wage Subsidy The GOC […]

COVID-19: Economic Response Plan – Legislative Update

This article is an update on Canada’s COVID-19 Economic Response Plan and Canada’s COVID-19 Economic Response Plan – Additional Resources In the early morning hours of March 25, 2020, Bill C-13 “An Act respecting certain measures in response to COVID-19” was introduced, and received Royal Assent by the afternoon. Important details, clarifications, and a few […]

COVID-19: Client Notice – Document Drop-Off

In an effort to protect our valued clients, our employees and our communities, amid the changing COVID-19 situation, effective immediately and until further notice, all DMCL offices will be closed to outside visitors and clients and our staff will not be able to visit or work from client offices. However, DMCL will remain fully operational in […]

COVID-19: B.C. Government Announcements – Updated (March 30th, 2020)

On Mar 23, 2020, the B.C. government announced their Covid-19 Action Plan (updated on March 30th, 2020).  The plan provides $5 billion in income supports, tax relief and direct funding for people, businesses and services, and includes the following measures. Relief for Individuals B.C. Emergency Benefit for Workers – Updated! B.C. Climate Action Tax Credit […]

COVID-19: CRA’s March 20th Update

On March 20th, the CRA has posted additional information on the Covid-19 relief measures listed below. Important changes to tax-filing and payment deadlines Individuals The deadline to file your income tax and benefit return will be deferred until June 1, 2020. The deadline to pay any balance due for your individual income tax and benefit […]

COVID-19: Economic Relief Measures for Business and Charities – Updated (March 30th, 2020)

Please see below for the latest information on: DEFERRAL OF GST/HST REMITTANCE – New! DEFERRAL OF CUSTOMS DUTY PAYMENTS – New! CANADA EMERGENCY BUSINESS ACCOUNT – New! LOAN GUARANTEE FOR SMALL AND MEDIUM ENTERPRISES – New! CO-LENDING PROGRAM FOR SMALL AND MEDIUM ENTERPRISES – New! DEFERRAL OF ADMINISTRATIVE INCOME TAX ACTIONS – New! Returns, elections, designations and information requests. […]

COVID-19: Economic Relief Measures for Individuals – Updated (March 30th, 2020)

Please see below for the latest information on: DEFERRAL OF ADMINISTRATIVE INCOME TAX ACTIONS – New! Returns, elections, designations and information requests. OBJECTIONS – New! Entitlement to benefits vs. other tax matters. Filing deadline. CPP/EI APPEALS TO THE MINISTER – New! SUSPENDING AUDIT ACTIVITIES – New! SUSPENDING COLLECTIONS ON NEW DEBT – New! TAXPAYER RELIEF REQUESTS […]

US Treasury Delays April 15 Tax Deadline by 90 Days

The US Internal Revenue Services (IRS) have provided commentary confirming action items the statement released on March 18th, 2020. Key-points to note: US income tax payment deadlines for individuals, trusts and estates have been automatically extended to July 15, 2020, for up to $1 million of 2019 tax due, For C Corporations, income tax payment […]