The BC government did NOT extend this deadline in its COVID-19 measures. What if I file after March 31, 2020? You will receive a tax notice charging you the tax at the maximum tax rate of 2% of assessed value. However, you can still complete your declaration even after you’ve received a tax notice whether, if […]
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 […]
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 […]
