Helping First Nations, Inuit and Metis with Tax Filing

The Canada Revenue Agency is trying to reach out to Canada’s First Nations, Inuit and Metis to encourage them to file their tax forms on time and could use your help to make sure these communities get all the tax benefits they are entitled to. But filing tax returns are not always easy, especially when there is income on and off the reserve.

Notice of Assessments received by many Canadians who have filed their 2019 individual tax returns indicate an incorrect payment date of April 30, 2020. However, the extended deadline of September 1 to pay any balances due does still apply.

We’re excited to announce that Part 1 of the Emergency Pandemic Relief Course went live on Thursday, April 23. Part 2 takes place on May 13 at 9:30 EST. Check out the speaker roster below. The deadline for registration is May 11, but don’t wait. Canada’s only Emergency Pandemic Response Benefits Course and Virtual CE Summit is available now, packed with the information you need to help your clients access income and business recovery support.

Knowledge Bureau is pleased to announce that Advisor’s Edge and Investment Executive will be joining us at DAC Acuity 2020 once again as the exclusive media sponsor for the conference. This year’s event takes place in Niagara Falls, October 28-30.

If you appreciate the information in this special edition of KBR, you definitely don’t want to miss taking the New Emergency Pandemic Response Benefits Course, available as part of a new national online event being held on May 13. Featured as pre-work for the Virtual CE Summit, it’s the perfect way to become certified in providing counsel on the COVID-19 emergency provisions and other financial matters related to the pandemic.  Your sound advice will impact critical tax and financial planning in the months and years to come.

On April 16, 2020 the federal government announced that the payroll threshold for businesses qualifying for the Canada Emergency Benefit Account (CEBA) has been reduced from $50,000 to $20,000 and increased at the upper end  from $1 million to $1.5 million. Additional commercial rent relief measures to help SMEs will be introduced soon. Here are the details you need to know:

Most Canadians who applied for the CERB for the first period of March 15-April 11 should have received their payments of $2,000 by now. However, the process has now changed from the initial guidelines released by the government for those who want to continue to access these benefits. Here’s what you need to know: