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: 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 […]

New Enhanced Tax Depreciation Write-Offs

The Department of Finance announced new rules in its 2018 Fall Economic Update on November 21st 2018 to temporarily allow Canadian businesses to immediately expense for tax purposes 100% of the cost of certain newly acquired machinery and equipment and certain specified clean energy equipment if acquired after November 20th 2018 and before 2028. These […]