CSK Management
Dawson Point Rd P0J1P0 New Liskeard, ON, Canada

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T1 Returns Filed Before September 1st Exempt From Late-Filing Penalties On May 22, 2020, the CRA further clarified that the late-filing penalty will not be applied for a return filed after the June 1, 2020 deadline as long as both the return is filed and payments are made by September 1, 2020. Without a late-filing penalty, taxpayers are free to file their returns late without consequence, provided that the return is filed and the balance owing is paid by September 1, 2020.... Does this mean that it’s good idea to file a T1 return late in June, July, or August? This might not necessarily be the case. The CRA is is still seeking personal returns from individuals by June 1, 2020 in order to ensure accurate federal and provincial benefits payments. However, as a temporary remedy for late-filed returns, the government will continue to pay benefits for the July, August, and September, using the information from an individual’s 2018 return if they have not yet filed their 2019 return. That said, the benefit and credit payments will not be the correct amounts, so filing on time would ensure that the correct payment amounts will be made and you do not owe money back.

New actions to further support Vaughan-Woodbridge businesses, with the Canada Emergency Business Account now encompassing annual payroll from $20,000 to $1.5 mi...llion. The expanded eligibility to small businesses for the CEBA $40,000 loan (25% forgivable) is an excellent vehicle for SME’s to cover non-deferrable operating expenses. More info: ow.ly/gq3D50zgrgN #covid #covid19 #covd19 #covid2020 #economicresponse #canada #Vaughan #woodbridge #smallbusiness #smallbusinessowner #smallbusinesses Vaughan Chamber of Commerce YorkRegion.com City of Vaughan CFIB

Through a new transfer with the provinces and territories, we will provide a temporary top-up to the salaries of the millions of low-income workers deemed essential in the fight against #COVID19. More: http://ow.ly/kYOl50zfmc7 #EconomicResponse