Employee Home Office Expenses: New Rules for 2020

In light of COVID-19 many employees have been required to work from home for a large portion of the 2020 calendar year.  As such, new streamlined rules apply for the 2020 taxation year that will allow individuals working from home to claim home office expenses on their personal income tax return. New Temporary Flat Rate […]

Canada Emergency Wage and Rent Subsidies Extensions

March 3, 2021 – Ottawa, Ontario – Department of Finance Canada The Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and Lockdown Support have helped protect millions of Canadian jobs and supported businesses of every size across Canada through the COVID-19 pandemic. Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, announced […]

Temporary Relief for Employee Automobile Benefits for the 2020 and 2021 Taxation Years due to COVID-19

On December 21, 2020, the Department of Finance Canada released a backgrounder and draft legislation to provide temporary relief in respect of employee automobile benefits for the 2020 and 2021 taxation years due to the impact of COVID-19. Key Takeaways: Reduced Standby Charges: Employees can use their 2019 automobile usage to determine whether they are […]

Taxation of CEBA and CECRA

This article is from the quarterly Canadian Overview, a newsletter produced by the Canadian member firms of Moore North America. These articles are meant to pursue our mission of being the best partner in your success by keeping you aware of the latest business news. CEBA – Forgivable LoanIf you are a small business owner […]

Canada Emergency Rent Subsidy (CERS) Update: Applications Now Open

Bill C-9, which incorporates the new Canada Emergency Rent Subsidy (CERS), received Royal Assent on November 19th, 2020. Read the full news release from the Canada Revenue Agency (CRA) here. The application site is now open for applications. Apply here. To calculate your Canada Emergency Rent Subsidy (CERS) amount, click here. For more information about […]

Employee Home Office Expenses

This article is from the quarterly Canadian Overview, a newsletter produced by the Canadian member firms of Moore North America. These articles are meant to pursue our mission of being the best partner in your success by keeping you aware of the latest business news. In light of COVID-19, many employees have had to work […]

Summary of the Federal Government’s COVID-19 Financial Support

Here is an up-to-date summary of the financial support offered by the federal government through Canada’s COVID-19 Economic Response Plan. SUPPORT BENEFITS New Recovery Benefits With Bill C-4 receiving Royal Assent, following the federal government’s Throne Speech commitments, more details have emerged on how new COVID-19 recovery benefits will be implemented. Subsequently,  three new temporary recovery benefits have […]

Canada Announces a New Commercial Rent Support Program, Expands Small Business Loans and Extends the Canadian Emergency Wage Subsidy

On Friday October 9th 2020, the Federal Government announced several new subsidies available to small to mid-size businesses and organizations affected by Covid-19, including a new Commercial Emergency Rent Subsidy (“CERS”) program, expanding the Canadian Emergency Benefit Account (“CEBA”) loan program and extending the Canadian Emergency Wage Subsidy (“CEWS”) program to June of 2021. Detailed […]