Richard Power Professional Corporation
221E Memorial Drive A5A 1R3 Clarenville, NL, Canada

Based on the ongoing developments with COVID-19, we have made the difficult decision to close our office to the public, effective immediately. Our staff are however still working and providing services to our valued clients. We are asking all clients to send records where possible electronically. In the event this is not possible, our office lobby is still open with a drop-box where you can bring your records. There will still be someone in the office during regular hours... monitoring the drop-box constantly. Please note that we are still accepting personal tax returns through this means. Please feel free to reach out to us by e-mail or telephone for any assistance required. We will be more than willing to help in any way possible. Our priority is to provide the same level of service to our clients as they have come to expect, just remotely. We ask that you all take the necessary precautions during these unprecedented times to protect yourselves and your health. Thank you all for your continued understanding and cooperation during these times. Please note the following contact information should you need to reach us: E-mail: [email protected] Telephone: (709) 466-1000 Cell: (709) 427-4702 Fax: (709) 433-3166

Due to the COVID-19 disruptions the Federal government and the Canada Revenue Agency have taken measures to aide the general public. Taxation - Personal The deadline for filing personal taxes has been extended to June 1, 2020 for the 2019 taxation year. Any balances owing from this taxation year will not incur interest or penalties if paid prior to August 31, 2020. ... Taxation - Corporate For businesses, at this time the Canada Revenue Agency is allowing businesses to defer tax payments until after August 31, 2020 for taxes incurred between March 18 and September 2020. This pertains to tax payments and instalments due during this time. No interest or penalties will accumulate on these balances as well during this period. Currently, there are no specific details available with respect to payroll remittances and HST remittances. As information becomes available from the Canada Revenue Agency, we will communicate this with you. Relief Options - Personal Personally, if you are unable to work due to COVID-19 due to self-isolation, contraction of the virus, or caring for child due to school cancellations, you may be eligible for temporary income support. Your first point of contact should be Service Canada if you are EI eligible. For individuals who do not qualify for funding under the EI program, can apply to the CRA for the temporary income support implemented by the Federal government. This benefit is available to self-employed individuals as well. Application can be made through My Account on the CRA website. Benefits available are up to $900 bi-weekly for a period of up to 15 weeks. In addition, for individuals who are eligible for the quarterly GST payments, the Federal government is proposing a one-time special payment by early May 2020. This will double the maximum annual GST payment amounts for 2019-20 benefit year. For individuals with children and qualify for the Canada Child Benefit, for the 2019-20 benefit year, parents will be entitled to an additional $300 benefit per child. This benefit will be received as part of the May benefit payment. Relief Options Corporate For small business and not-for-profit organizations, the Federal government is providing funding to prevent employers from having to lay-off employees due to revenue losses from COVID-19. The government is willing to provide a subsidy to these employers at an amount of 10% of the employees’ wages up to a maximum of $1,375 per employee and $25,000 per employer. To avail of this benefit, employers can net this portion of the employees’ pay from the income tax portion of their payroll remittance. More Information For more information on the extensions and benefits noted above, please see the following website: https://www.canada.ca//canadas-covid-19-economic-response-

To our valued clients: Based on the developing situation with COVID-19, the health and safety of our clients and staff is of the utmost concern to us. In light of this, we have adopted the following procedures in accordance with Health Canada’s guidelines. While our office is still open and our staff are working hard to provide the best possible service to our valued clients, we urge you to please refrain from visiting our office if you exhibit cold or flu-like symptoms or i...f you have travelled abroad or have been in contact with anyone who has travelled abroad in the previous 14 days. In addition, to help prevent possible spread of the virus, we ask that clients who can send documents electronically do so. In addition, we are trying to reduce face to face meetings and visits to clients’ offices. If you wish to schedule a meeting, please give us a call or message to discuss. Where possible, we will be conducting telephone meetings as an alternative. While these are extraordinary circumstances, we are committed to providing you with the same exceptional quality service. We will also be monitoring tax deadlines with the CRA and will communicate any changes should they be announced. Do not hesitate to reach out to us if you have any questions or concerns. Please take all the necessary means to stay safe and healthy, and we look forward to serving you all in the coming months.

It was a very exciting weekend for our office! On Saturday we attended Michaela’s CPA Convocation in St. John’s, where Michaela was recognized as 1 of 36 new CPA Graduates in the province! Michaela was also awarded the CFE Silver Award of Distinction for being one the top three performers in Newfoundland on the 2019 exam. Congratulations on this enormous accomplishment in your career. We already know you’re going to do great things!

A very exciting day here at our office! Michaela found out this morning that she passed the CPA final exam! A massive accomplishment and we couldn’t be more proud of her! Congratulations going out to her from all of us here at the office. We are very excited to have a new CPA on our staff!