CMB Services
Cimarron Vista Cres T1S 0K2 Okotoks, AB, Canada

The Canada Revenue Agency is opening up its snitch line to tips about fraud in COVID-19 federal aid programs amid reports of illicit applications and double dipping. https://nationalpost.com//canada-revenue-agency-opens-up-s

As announced by the Honourable Diane Lebouthillier, Minister of National Revenue, on May 15, 2020, the CRA has extended benefit payments until the end of September for those who are unable to file their 2019 tax return on time. For individuals who already receive the Canada child benefit, the GST/HST credit, or both, their estimated payments will be based on the information from their 2018 tax return. In addition, as noted in the Prime Minister’s News Release on May 12, 2020,... this also applies to temporarily extending GIS and Allowance payments if seniors’ 2019 income information has not been assessed. This will ensure that the most vulnerable population continues to receive their benefits when they need them the most. If you are unable to file your 2019 tax return in time for it to be assessed by early September 2020, the estimated benefits and/or credits will stop in October 2020. You will then be advised to repay the estimated amounts that were issued to them starting in July 2020. The CRA encourages Canadians to file your tax returns by June 1, 2020 or as soon as possible in order to receive the right amount of benefits based on their 2019 tax return, and in order to ensure continuity of benefits beyond September 2020. Information about extended filing deadlines for benefit and credit recipients is available here: https://www.canada.ca//covid-19-benefits-credits-support-p https://www.canada.ca///covid-19-filing-payment-dates.html https://www.canada.ca//taxes/child-and-family-benefits.html https://www.canada.ca///canada-child-benefit-overview.html https://www.canada.ca//goods-services-tax-harmonized-sales

Workplace guidance and supports to help businesses and non-profits affected by COVID-19 begin to reopen and resume operations safely. https://www.alberta.ca/biz-connect.aspx#guidance

IRS may require snowbirds stuck in the US to file tax returns http://www.canadian-accountant.com//irs-may-require-snowbi

Digital news subscription tax credit! https://www.canada.ca//dedu/digital-news-subscription.html

Here's how to apply for government help during the coronavirus pandemic https://nationalpost.com//heres-how-to-apply-for-governmen

CRA suspends new debt collection to prevent financial hardship https://www.advisor.ca//cra-suspends-new-debt-collection-/

Can I sell my stocks, buy them back right away, and claim a loss? (and will companies cut their dividends?) https://www.theglobeandmail.com//article-can-i-sell-my-st/

https://www.advisor.ca/tax/golombeks-year-end-tax-tips/

GREAT NEWS!!! Andrew Scheer is committed to making life more affordable for the average family.

Did you know that, in Canada, paragraph 11(d) of our Charter of Rights and Freedoms ensures that we are to be presumed innocent until proven guilty according to law in a fair and public hearing by an independent and impartial tribunal? Good news, isn’t it? But wait. This Charter right doesn’t apply in the matter of taxes, where the opposite is true: You’re guilty until proven innocent. https://www.theglobeandmail.com//article-this-couples-18-/

https://www.newswire.ca//tax-information-you-need-to-know-

Well I guess as long as there was something good that came out of it

https://www.newswire.ca//tax-tip-track-and-report-your-tip

If you are ever in doubt please phone CRA back to confirm. Don't go to RCMP to confirm, there have been a lot of changes at CRA in the past 3 years so it's hard for them to keep up. Phone 1-800-959-8281 then press #5 then press #4 to speak to a representative. They will have everything on file for you. Make sure you have your latest notice of assessment handy so they can verify your identity.

For my Creston/Nelson clients! https://thenelsondaily.com//nelson-creston-mla-%E2%80%94-m

https://nationalpost.com//how-to-determine-whats-better-rr

https://www.cbc.ca//canada/thun/tax-scam-warning-1.4991104

This makes me so mad. Please be careful with who you send money to and if you need to ask if it's legit don't be embarrassed. It's hard to know sometimes. https://calgary.ctvnews.ca/lethbridge-senior-swindled-out-o

New EI parental sharing benefits are here. As part of the 2018 federal budget, a supplemental "parental sharing benefit" was proposed, which will provide an additional five weeks of benefits when both parents agree to share parental leave, designed to provide greater flexibility to families. As well, the Working While on Claim rules now apply to sickness and maternity benefits. While on maternity leave, some women choose to return to work early, before their EI benefits end. ...This is allowed and doable, but requires an adjustment in how much they receive in their benefits. A claimant receives 55% of their weekly salary as their EI benefit. When they return to work, they must subtract 50 cents of each dollar they earn, and this amount will be subtracted from their overall EI benefit. For example: Before mat leave, Riya earned $500/week, and her EI benefit is 55% of this, so she receives $275/week while on maternity leave. She returns back to work part time, for a total of $300/week salary. She needs to subtract 50 cents of each dollar earned ($150) from her EI benefit. Now her EI benefit is $125/week, plus she keeps her weekly salary, so her total earnings will be $425. See more