Toni Lepore, CPA, CGA, CFP
916 18A Ave V1C 3X9 Cranbrook, BC, Canada

New CEWS 2.0 calculator available. Applications start today. https://www.canada.ca//services/subsidy/emergency-wage-sub

The Canada Revenue Agency has extended the payment due date for 2019 individual tax returns, 2019 or 2020 corporation and trust returns, as well as instalment payments from September 1, 2020 to September 30, 2020.

Canada Prime Minister's update -CERB will be extended by 8 weeks (two additional 4 week periods) -Canada/US border will remain closed for another 30 days for non-essential travel, until July 21, 2020

PM's Update, CEWS extended to end of August, other changes to be announced shortly. The CEWS program will be extended three months to the end of August 2020. The 30% required revenue decrease threshold is being reviewed to not hamper growth as the economy reopens.... The CESB student applications open today. Either the $1,250 CESB OR $2,000 CERB may potentially be applied for not both. GST/HST credit and Canada Child Benefit will continue to the end of September even if 2019 returns haven’t been filed. However, individuals are encouraged to file returns as soon as possible. Further the department of Finance stated that new regulations would extend eligibility for the CEWS to the following groups: Partnerships that are up to 50-per-cent owned by non-eligible members; Indigenous government-owned corporations that are carrying on a business, as well as partnerships where the partners are Indigenous governments and eligible employers; Registered Canadian Amateur Athletic Associations; Registered Journalism Organizations; and Non-public colleges and schools, including institutions that offer specialized services, such as arts schools, driving schools, language schools or flight schools. The Government also intends to propose legislative amendments to ensure that the CEWS continues to meet its objectives. These proposed amendments would: Provide flexibility for employers of existing employees who were not regularly employed in early 2020, such as seasonal employees. This includes a proposal that an option would be added to calculate baseline remuneration as the average weekly remuneration paid to the employee from March 1 to May 31 of 2019; Ensure that the CEWS applies appropriately to corporations formed on the amalgamation of two predecessor corporations and Better align the treatment of trusts and corporations for the purpose of determining CEWS eligibility.

Canada Emergency Student Benefit CESB Application process to begin May 15 at 6:00 AM ET. Details on the Application process have now been released. The CESB Enquiries phone line is 1-833-966-2099. The CESB is intended to provides financial support to post-secondary students, and recent post-secondary and high school graduates who are unable to find work due to COVID-19.... This benefit is for students who do not qualify for the Canada Emergency Response Benefit (CERB) or Employment Insurance (EI). From May to August 2020, the CESB provides a payment to eligible students of: $1,250 For each 4-week period OR $2,000 For each 4-week period, if you have dependents or a disability Of note: Dependant definition: a child (adopted child, stepchild, or foster child) who is under 12 years old and is completely dependent on the student, student’s spouse, or common-law partner for support, care, and upbringing a person with a disability who is completely dependent on the student, student’s spouse, or common-law partner for support, care, and upbringing Disability definition: Any impairment, including a physical, mental, intellectual, cognitive, learning, communication or sensory impairment or a functional limitation whether permanent or episodic in nature, or evident or not, that, in interaction with a barrier, hinders a person’s full and equal participation in society. Application days will be spread out like they were for CERB. They are based on birth month and whether the applicant is a recent graduate, or a post-secondary student. To apply/re-apply for the CESB, one of the following must still apply: you are unable to work due to COVID-19 you are looking for, but cannot find work due to COVID-19 you are currently working during the COVID-19 pandemic, but your income from employment and self-employment has been $1,000 or less (before taxes) during the 4-week period you are applying for