Mollon Tyler-Mollon
3945 Johnston Road V9Y 5N4 Port Alberni, BC, Canada

Interest relief on personal income tax return balance.

The write off people..... Who pays for it?

CRA is ready to start auditing and collecting again.

One-time payment support for Canadians living with disabilities The Government of Canada has announced a one-time payment of $600 to help persons living with disabilities, in recognition of some of the extraordinary expenses they have encountered during the COVID-19 pandemic. Individuals who are determined to be eligible for the disability tax credit (DTC) or certain other disability-related benefit programs, may be entitled to receive the payment. ... Canadians living with disabilities who are eligible for the DTC but who have not yet applied, will have until September 25, 2020 to do so. For more information on how to apply for the DTC, please visit: http://www.canada.ca/disability-tax-credit. Recipients of the payment are encouraged to make sure their address and banking information is up to date in order to receive prompt payment. For callers who need help with changing their address, updating direct deposit, accessing My Account, or questions related to the DTC or their application, they can call CRAs Individual Enquiries Line at 1-800-959-8281 (English) and 1-800-959-7383 (French) between 9:00 a.m. to 5:00 p.m. (local time) Monday to Friday. If you want to know more about the One-time payment support for Canadians living with disabilities, please visit: https://www.canada.ca//one-time-payment-persons-disabiliti

Steam in the subway, earth is afire

In simple terms, we expect a surge in the so-called "T1135 audits". "Specified foreign property" includes, generally speaking, various types of tangible, intangible, and real estate property outside of Canada, among others. "Specified foreign property" does not include a property used exclusively in carrying on an active business or personal use property, among others.

As efilers we received the following email this morning from Canada Revenue Agency. This is extraordinary. It is a clear indication that 2019 paper filed returns (and likely all analog filings) are not being processed and won't be processed any time soon. If you (or someone you know) depend on benefits, OAS and supplements for example (they run from July 1 to June 30 based on the prior year tax return), already filed a 2019 paper tax return, expect delays in benefits starting... July 2020. COVID-19 Temporary Measure Already Filed Paper Returns In support of the recent COVID-19 announcements, the Canada Revenue Agency (CRA) is continuing to introduce new measures to assist Canadians in filing their income tax and benefit returns during this difficult time. In its ongoing commitment to serve Canadians better, the CRA will implement a temporary measure, starting on April 20, 2020, which will allow an electronic filer to submit an electronic return for their client, even if a paper return has already been received for that tax year, but has not yet been processed. This temporary measure excludes returns where the: CRAs web response stated that the return must be paper filed; or Electronic filing exclusions are applicable. We also ask that you file your clients income tax and benefit returns electronically by June 1, 2020, to make sure their benefits and credits are not interrupted.

The 2019 wage threshold has been reduced from $50,000 to $20,000 for this CEBA interest free loan.

Information related to the 75% Wage Subsidy

"For those who became eligible for EI on March 15 or later, those EI claims are to be automatically transferred to the CERB.... The government has received 3.8 million applications for the CERB program since Monday and has processed just over 5.6 million claims retroactive to March 15, Qualtrough said Friday."

The $50,000 wage limit needs to be eliminated.

Important update re owner manager shareholders compensated with dividends.

BC Hydro COVID-19 Relief Fund

At this point the language/direction/definition of self-employed is not clear. This is a guess >>> The CERB **may** be available for self employed owner/managers that are normally compensated with dividends. Perhaps the application process will reveal details.

Erica and I have been working together since 1998. We are grateful for being able to spend so much time together. From a business perspective we have never seen a year like this one. The ground beneath us has shifted like quicksand. And we are only in early April. The strangest days are yet to come. A few guiding principles we try to follow have helped us in the last few weeks: Adapt. Embrace change. Embrace technology. Move fast. Make decisions and execute. Stay small and ag...ile. Take massive action for massive results. Prepare for the worst and hope for the best. Closing our doors to our clients on March 13th was a crazy milestone and decision in our business adventure. We continue to work in our office trying to stay ahead of the curve but, like you, we are not sure where we are going. We have amazing support from our staff working remotely (Sarah, you are awesome), and continue to deliver the service level we expect and want to deliver to our clients. We are open for business in this new way of conducting business: digital documents and remote relationships. If you need to talk business, please give us a call, or drop us a line. We are here. See more

It is reasonable to expect similar in Canada.

Re: Wage Subsidy Cluster The requirement to write new legislation further complicates the Liberals massive wage subsidy program, which has already been criticized for its tardy rollout. Morneau on Wednesday confirmed that an online portal through which businesses can apply for the wage subsidy will not be completed for another three to six weeks, potentially adding more delays as millions of Canadian workers face layoffs. https://nationalpost.com//its-ready-fire-aim-opposition-sl

Details related to the Emergency Wage Subsidy for businesses.