Padgett North York
5200 Yonge St, 2nd Floor M2N 5P6 Toronto, ON, Canada

You may get an automated message aimed to help businesses with new GST/HST accounts stay on track of their tax obligations. These messages never ask for persona...l info, but will be about: your GST/HST filing deadline how to make payments Get all the details: http://ow.ly/9xRj50EiYh9

Did you work from home in 2020 due to COVID-19? If your home office expenses won’t be reimbursed by your employer, you may be able to claim a deduction on your tax return. Find out if you’re eligible http://ow.ly/t45050EhKQ1 #COVID19

Tax Deadline Reminder! This is just a friendly reminder that Individual Filing and Payment Dates for the 2020 tax year is April 30th. CRA has not given any deadline extensions.... If you're Self-Employed the Filing Date is June 15th, however, the Payment Date is April 30th. Filing on time avoids delays and ensures that you receive the refunds, benefits, or credit payments that you may be entitled to, in a timely manner. Stay home, stay safe, all our services are online! #personaltaxes #taxseason #accountingservices #smallbusiness #smallbusinessowner #smallbusinesssupport #CdnTax #PersonalService #PersonalTax #TaxPlanning #TaxTips #bookkeeping #taxes #entrepreneur #advisory #startupCanada #accounting #smallbiz

The government of Canada requires tax residents of Canada to file income taxes by April 30th. #personaltaxes #taxseason #accountingservices #smallbusiness #smallbusinessowner #smallbusinesssupport #CdnTax ... #PersonalService #PersonalTax #TaxPlanning #TaxTips #bookkeeping #taxes #entrepreneur #advisory #startupCanada #accounting #smallbiz See more

The government of Canada requires tax residents of Canada to file income taxes by April 30th. #personaltaxes #taxseason #accountingservices #smallbusiness #smallbusinessowner #smallbusinesssupport #CdnTax ... #PersonalService #PersonalTax #TaxPlanning #TaxTips #bookkeeping #taxes #entrepreneur #advisory #startupCanada #accounting #smallbiz See more

Yesterday, Diane Lebouthillier, Minister of National Revenue, announced that the Government of Canada will provide targeted interest relief to Canadians who received COVID-related income support benefits. Once individuals have filed their 2020 income tax and benefit return, they will not be required to pay interest on any outstanding income tax debt for the 2020 tax year until April 30, 2022. This will give Canadians more time and flexibility to pay if they have an amount ow...ing. To qualify for targeted interest relief, individuals must have had a total taxable income of $75,000 or less in 2020 and have received income support in 2020 through one or more of the following COVID-19 measures: Canada Emergency Response Benefit (CERB); Canada Emergency Student Benefit (CESB); Canada Recovery Benefit (CRB); Canada Recovery Caregiving Benefit (CRCB); Canada Recovery Sickness Benefit (CRSB); Employment Insurance benefits; or similar provincial emergency benefits. The Canada Revenue Agency (CRA) will automatically apply the interest relief measure for individuals who meet these criteria. Additionally, any CRA-administered credits and benefits normally paid monthly or quarterly, such as the Canada Child Benefit and the goods and services tax/harmonized sales tax credit will not be applied to reduce individuals’ tax debt owing for the 2020 tax year. Canadians are strongly encouraged to file their tax returns by the filing deadline to ensure that their benefit payments continue without interruption. #taxseason #taxseason2020

Find out more about Home Office Expenses CRA’s amended rules for 2020 Check our last blog entry https://padgettnorthyork.ca//home-office-expenses-cras-am/... #covidsupport #taxseason2021 #smallbusiness #accounting #tax #homeoffice

BDC is offering a new loan guarantee program for businesses across all sectors that have been highly affected by the pandemic. The program is called the Highly Affected Sectors Credit Availability Program - or HASCAP (thank goodness for acronyms!). The loan application is to be made through the client's financial institution, starting February 1st. Not all financial institutions may be ready to receive applications as of February 1st but the rollout should be complete by Fe...b 15th. Loans are from $25K to $1M. To be eligible for HASCAP, businesses need to show a year-over-year revenue decline of at least 50% in three months, within the eight months prior to their application, among other eligibility criteria. If the business qualifies for the CEWS or CERS, it must have made a claim or make one. If it does not qualify then other information will need to be provided. The business must have been financially stable and viable prior to the current economic situation and have been in operation as at March 1, 2020. The criteria for this condition have not been released other than to say it is the government of Canada who will make the determination, not the financial institution. It also specifies that other criteria apply that the financial institution will outline. Please see the link below to the BDC website for details on the qualifications and other information. https://www.bdc.ca/en/special-support/hascap

This year, in response to the pandemic, employers can get more funding to hire youth for full-time or part-time placements through the Canada Summer Jobs program.

What a year it’s been! There were a lot of firsts for everyone this year, both good and bad. While most people are definitely feeling relieved that this year is coming to an end - we still can’t help but look back and be grateful for all that we’ve accomplished, from our new office to be able to support you during this times - it’s been a year of growth in so many ways. #HappyNewYear2021 #HappyNewYear #bye2020 #NewYearsEve2021 #newbeginnings #bestwishes