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 […]

Canada’s COVID-19 Economic Response Plan – Additional Resources

Read the follow-up article to this for the most up-to-date information: COVID-19: Economic Response Plan – Legislative Update Key-Points for Business and Individuals: In-Depth onto the March 18th Comments Note: The preceding information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions in a newsletter such as this, a […]

Canada’s COVID-19 Economic Response Plan

Read the follow-up article to this for the most up-to-date information: COVID-19: Economic Response Plan – Legislative Update On March 18, 2020, Prime Minister Trudeau announced Canada’s COVID-19 Economic Response Plan.  The plan includes some proposed tax and non-tax measures aimed at relieving economic hardship during the COVID-19 pandemic. Note:  None of the proposed measures […]

DMCL CPA’s Response to COVID-19

To our valued clients, We would like to let you know how the COVID-19 health emergency is affecting us during our busy season, and the steps our offices are taking to ensure the health and safety of our staff and clientele. We are closely monitoring the situation along with the guidance given by governmental and […]

2020 Federal Budget Date Update

The 2020 Federal Budget was originally scheduled to be tabled March 30th but they announced this past Friday that it will be rescheduled. The House of Commons is taking a break until April 20th (in light of COVID-19) so it won’t be delivered before then.  Stay tuned for another blog post once the new date is announced.

What’s New in BC’s 2020 Budget

In its 2020 budget, the BC government has laid the groundwork for the province’s largest-ever infrastructure plan. The budget also promises new initiatives to offer British Columbians relief for tuition and childcare costs, and a new tax bracket for the province’s highest income earners. Here are the new and notable measures found in Budget 2020: […]