Mark Your Calendar: Critical Deadlines for May and June
Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:Future Issues May Arise from Simplified CERB Application Process
It’s money that Canadians needed quickly and the government must be commended for their processing over 4 million CERB applications to date, and close to 2 million this week alone. But are Canadians setting themselves up for a significant audit process in the future? These funds are taxable, and there are additional audit risks that should be a hot topic of discussion for advisors and their clients.
Got Your Digital Subscriptions? There’s a New Tax Deduction
Here’s a social distancing tax tip: convert your in-person newspaper delivery into a digital subscription. If you do, you’ll receive a new tax credit on the 2020 tax return. Here are the details:
Tax Season 2020: Close to 11 Million Have Filed
The federal government pushed out this year’s tax filing deadlines in order to relieve some pressure on taxpayers, professionals, and CRA staff all coping with the effects of the pandemic. Has tax season slowed down as a result? It doesn’t really appear so when you compare the first month of tax filing season to the most recent statistics released by the government.
It’s Spring E-Training Time: Hop to Your $200 Easter Treat
It's a different type of post-Easter treat savings! Treat yourself to a new professional development opportunity. Available only until April 15. . . when you enrol in a Designation program. We've also waived instalment fees on our EZ-Pay plan.
Special CERB Report: How to Apply Now
Canadians can start to apply for the Canada Emergency Response Benefit (CERB) this week and there are some new details to be aware of. Here’s how it will work:
Finally: Details on the 75% Employer Wage Subsidy
The distance from Friday to Wednesday can seem like an eternity when hope hangs on the promise of a 75% wage subsidy. The details were finally announced on April 1, which we are sharing today. But the euphoric moment is somewhat muted as the fine print includes uncertainty, complexity and the reality that money will not flow for six weeks. This may be devastating for businesses trying to avoid bankruptcy at this critical time.
