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Coronavirus / COVID-19 Updates

 

Ward & Uptigrove is carefully monitoring the COVID-19 situation and its implications to our staff and clients. As new relevant details become available, we will update this page and encourage you to check back frequently. 

 

For a full list of measures, visit Canada's COVID-19 Economic Response Plan and Ontario's Action Plan.

 

For information on Tax Deadlines & Payments, see our Summary of Extensions.

 


Human Resources Solutions

 

September 3 Update

 

Infectious Disease Emergency Leave (IDEL)
The Ontario government extended the temporary IDEL leave until January 2, 2021.  Under the Employment Standards Act, 2000 (ESA), this provides temporary relief from the ESA’s termination and severance provisions for employers whose operations have been shut down or otherwise curtailed by COVID-19 – O. Reg. 228/20, Infectious Disease Emergency Leave (IDEL Regulation).

August 7 Update

 

Temporary 10% Wage Subsidy provides employers 10% of wages paid from March 18, 2020 to June 19, 2020 up to $1,375 per employee and $25,000 total. Employers will access the subsidy through their remittances for source deductions. Eligible businesses must employ at least one person, be registered for payroll March 18 or before with CRA, have payroll remittance and be one of the following business types: 

  1. Canadian-controlled private corporations (CPCC) with taxable capital employed in Canada for the preceding taxation year of less than $15 million
  2. An individual (other than a trust)
  3. A partnership compromised of members who are described in 1, 2 or 5.
  4. Non-profit organizations
  5. Registered charities.

Tax Templates has provided a calculator to help employers estimate their benefit.

 

CRA announced that any business that qualifies for the Temporary Wage Subsidy, if they intend to claim or have claimed either the TWS or CEWS, must submit the new mandatory PD27, 10% Temporary Wage Subsidy Self-Identification Form for Employers for each employer payroll program (RP) account. This includes employers who also qualified for CEWS. CRA will use this form to reconcile the RP accounts as the benefits were claimed by a reduction in payroll withholding remittances.

 

The new Form PD27 should be submitted before the end of 2020 so CRA has time to update the appropriate payroll program accounts before T4s for 2020 are filed. This will also help avoid receiving a payroll discrepancy notice. 

 

To complete this form, employers will need the total number of eligible employees paid during the eligible period, along with gross remuneration and source deductions (income tax, CPP, EI). The TWS claimed for each pay period that falls within March 18 to June 19 is also to be reported. 

 

For employers who qualified for both TWS and CEWS, CRA states that if the eligible employer fails to file the form, they will be credited for the entire TWS and their CEWS claim may be reduced and recovered, if necessary. Note that the TWS claim per period should correspond to the TWS amount that was reported for each CEWS claim.

 

The completed Form PD27 can be submitted online through the CRA’s My Business Account or mailed/faxed to the CRA National Verification and Collection Centre within the employer’s jurisdiction as listed on the form.

 

If you are an eligible employer, but you have not reduced your payroll remittances, you can still calculate the TWS on remuneration paid from March 18 to June 19, 2020. The CRA will pay the amount of the subsidy to you or transfer it to your next year’s remittance.

 

July 27 Update


Canada Emergency Wage Subsidy (CEWS)  program has been extended until December 19, 2020, with redesigned program details until November 21, 2020. Beginning July 5th with period 5, the changes to the program will include both:

  1. A Base subsidy to all eligible businesses that have experienced any revenue decline.
    • The base subsidy amount will be in relation to the revenue decrease and the percentage will gradually decrease.
  2. A Top-up subsidy of up to an additional 25% for employers that have a greater than 50% revenue decline.

For July (Period 5) and August (Period 6), employers would not receive a subsidy rate lower than they would have had under the previous rules and if that is the case, the previous rules would still apply.

 

The deadline for applications has been extended to January 31, 2021. Applications can be made through CRA My Business Account or Represent a Client.

 

We've outlined the revenue decline thresholds, corresponding subsidies and additional details on a separate CEWS details page or visit the Federal CEWS page.

 

July 24 Update

 

For businesses that are federally regulated, the Government of Canada has made amendments to the Canada Labour Standards Regulations to temporarily extend the layoff period by up to six months.  For employees laid off prior to March 31, 2020 and up until September 30, 2020, the time is extended by six months or to December 30, 2020 unless a later recall date was provided in a written notice at the time of the layoff.

 

Employment Insurance Sickness Benefits: For Canadians without paid sick leave (or similar workplace accommodation) who are sick, quarantined or forced to stay home to care for children


Corporate Measures

 

Our HR Solutions team has prepared a Post COVID-19 Frequently Asked Questions to assist businesses during the reopening process.

Ontario has provided new public health measures and safety guidelines during COVID-19 and our HR Health & Safety specialists created a helpful COVID-19 Re-Opening Worksheet.  

 

September 9 Update

 

Canada Emergency Commercial Rent Assistance Program (CECRA)  has been extended for the month of Sptember through Canada Mortgage Housing Corporation.  To be eligible for a loan, property owners will be required to reduce the rental costs of small business tenants for April to September 2020 by at least 75%. The Federal and Ontario government would provide a forgivable loan to cover 50% of the total 75% reduction in the rent paid by the tenant. The remaining 25% of the rent reduction would be rent waived by the landlord.

 

A signed rent forgiveness agreement that also includes a moratorium on evictions for three months must be in place between impacted tenants and landlords. Samples are provided on the CMHC web page. 

 

This program applies to commercial properties with small business tenants.  Commercial properties with a residential component, and residential mixed-use properties with a 30% commercial component, would also be eligible for support with respect to their commercial tenants.

 

An eligible small business tenant is one that:

Not-for-profit organizations and charitable entities would also be considered for the program.  

 

August 31 Update

 

Canada Emergency Business Account (CEBA)  deadline for application has been extended from August 31 to October 31, 2020.  CEBA allows banks and credit unions to provide interest free loans of up to $40,000 for non-deferrable operating expenses.  The loans will be guaranteed by the Government of Canada and 25% of the loan amount will be forgivable (up to $10,000) if 75% is repaid before December 31, 2022.  If there is a balance on the loan on December 31, 2022, it would be converted to a 3 year term at 5% and there would be no loan forgiveness.


Eligibility includes Canadian small businesses in operation as of March 1, 2020.  There are two application streams:

  1. Payroll Stream: For small businesses with a 2019 payroll between $20,000 and $1.5 million
    • Apply through the financial institution where they have a business bank account OR
  2. Non-Deferrable Expenses Stream: Less than $20,000 in payroll (including sole proprietors receiving income directly from their businesses, businesses that rely on contractors or family-owned corporations that pay employees through dividends rather than payroll) that have a CRA business number and have filed a 2018 or 2019 tax return.
    • Step 1: Apply through the financial institution where they have a business bank account 
    • Step 2: Provide documentation to a CEBA website of eligible non-deferrable expenses between $40,000 and $1.5 million.  Categories for these expenses include wages to independent third parties, rent or leases, property taxes, utilities,  insurance, regularly scheduled debt payments and payments to independent contractors. Expenses will be subject to verification and audit by the Government of Canada. 

The Business Credit Availability Program has been extended until June 2021. The Business Development Bank of Canada and Export Development Canada will provide $40 billion in direct lending and other types of financial support to small and medium-sized businesses.

 

August 12 Update

 

Reopening Ontario: All Ontario health unit regions are in A Framework for Reopening our Province: Phase 2: Restart - Stage 3.

All businesses should refer to their sector-specific workplace health and safety guidelines provided.

 

May 14 Update

 

The Federal government announced the Agriculture and Food Business Solutions Fund which provides $100-million through Farm Credit Canada to help companies in times of need with flexible financing solutions, such as convertible debt. Applications up to $10 million will be considered if a company can demonstrate an impact from an unexpected business disruption.

 

May 13 Update

 

Regional Relief and Recovery Fund (RRRF), delivered by FedDev Ontario in Southern Ontario, for small and medium businesses that have applied to existing measures for which they are eligible and been declined, including 

The interest free loans for Canadian or provincially incorporated businesses with up to 499 full-time equivalent employees that have had business revenues affected by the COVID-19 Pandemic.

May 5 Update

 

A national AgriRecovery initiative of up to $125 million in funding to assist producers who have seen additional costs incurred related to COVID-19. Among other things, the program includes set-asides for cattle and hog producers due to the effect of temporary closures of food processing plants. 
 

April 17 Update

 

Community Futures Network provided an additional $287 million to support rural businesses and communities, including through access to capital.

 

March 25 Update

 

The Ontario Government announced 

March 23 Update

 

Farm Credit Canada allowed an additional $5 billion in lending capacity.

 


Personal Measures

 

August 20 Update

 

The Canada Emergency Response Benefit was extended by 4 weeks.  This taxable benefit provides $500 per week, paid in $2,000 blocks, for up to 28 weeks between March 15, 2020 to October 3, 2020, to  workers who 

When submitting your first claim, you cannot have earned more than $1,000 in income for 14 or more consecutive days within the four-week period; for subsequent claims, you cannot have earned more than $1,000 in income for the entire four-week period of your new claim.

 

Temporary measures to help Canadians were proposed and will need legislation passed once Parliament resumes.  These are intended to begin as of September 27, 2020.  These include:

 

1. Increased access to Employment Insurance EI benefits  

2. The Government would freeze the EI premium rate for employees at the 2020 level of $1.58 per $100 of insurable earnings for two years. The rate for employers, who pay 1.4 times the employee rate, will also remain unchanged at $2.21 per $100 of insurable earnings.

 

3. For workers who are not eligible for EI, a new Canada Recovery Benefit is proposed from September 27, 2020 for one year to provide $400 per week for up to 26 weeks.  This is mainly for the self-employed and those working in the gig economy who are unable to work due to the COVID-19 pandemic.

 

4. A new Canada Recovery Sickness Benefit would provide $500 per week, for up to two weeks, effective September 27, 2020 for one year, for workers who are unable to work because they are sick or must self-isolate due to COVID-19.

 

5. A new Canada Recovery Caregiving Benefit would be effective from September 27, 2020 for one year, and provide $500 per week, for up to 26 weeks per household to eligible Canadians that cease working in order to care for a family member in specific situations.

 

July 27 Update


New Disability Support Payment introduced in Bill C-20.  This one-time, tax-free, non-reportable payment of up to $600 to eligible individuals who have:

May 13 Update

 

The Canada Emergency Student Benefit (CESB) for post secondary students and new graduates who are not eligible for CERB and are looking for, but unable to find, work or unable to make more than $1,000 before taxes over the four-week period for which they are applying.  It is available from May to August 2020, providing $1,250 per month to eligible students or $2,000 per month for eligible students with dependents or disabilities.  Applications  can be made through CRA My Account.

 

April 6 Update

 

The Government of Ontario has opened applications for eligible parents to receive a one-time payment of $200 per child aged 0 to 12 or $250 per child with special needs aged 0 to 21.  If families previously registered for the Support for Parents during strike days, they do not need to register again.

 


Wealth Management

 

March 18 Update

 

Minimum RRIF Withdrawals: The required minimum withdrawals from Registered Retirement Income Funds (RRIFs) will be reduced by 25% for 2020. Similar rules would apply to individuals receiving variable benefit payments under a defined contribution Registered Pension Plan.


Firm Communications

 

April 16, 2020 - Navigating the Financial Implications of COVID-19

This recorded webinar uses a case study approach for common small business scenarios to demonstrate how the most recent measures can be applied.  The presentation can also be downloaded here.

 
April 13, 2020 - Canada’s COVID-19 Financial Relief Plan Newsletter

A consolidated summary of support for businesses, individuals and other changes in their most current state of affairs as of April 11, 2020.

 

Ward and Uptigrove Logo

Coronavirus / COVID-19 Updates

 

Ward & Uptigrove is carefully monitoring the COVID-19 situation and its implications to our staff and clients. As new relevant details become available, we will update this page and encourage you to check back frequently. 

 

For a full list of measures, visit Canada's COVID-19 Economic Response Plan and Ontario's Action Plan.

 

For information on Tax Deadlines & Payments, see our Summary of Extensions.

 


Human Resources Solutions

 

September 3 Update

 

Infectious Disease Emergency Leave (IDEL)
The Ontario government extended the temporary IDEL leave until January 2, 2021.  Under the Employment Standards Act, 2000 (ESA), this provides temporary relief from the ESA’s termination and severance provisions for employers whose operations have been shut down or otherwise curtailed by COVID-19 – O. Reg. 228/20, Infectious Disease Emergency Leave (IDEL Regulation).

  • This temporary relief covers most private sector employers in Ontario and deems certain employees not to be considered on layoff but rather the IDEL retroactive to March 1st, 2020, and some actions not to be considered constructive dismissal. 
  • Any employees on the deemed IDEL will need to be recalled by the September 4, 2020 end date, switched to a layoff of 13 weeks (or 35 weeks if benefits continued) or terminated. 

August 7 Update

 

Temporary 10% Wage Subsidy provides employers 10% of wages paid from March 18, 2020 to June 19, 2020 up to $1,375 per employee and $25,000 total. Employers will access the subsidy through their remittances for source deductions. Eligible businesses must employ at least one person, be registered for payroll March 18 or before with CRA, have payroll remittance and be one of the following business types: 

  1. Canadian-controlled private corporations (CPCC) with taxable capital employed in Canada for the preceding taxation year of less than $15 million
  2. An individual (other than a trust)
  3. A partnership compromised of members who are described in 1, 2 or 5.
  4. Non-profit organizations
  5. Registered charities.

Tax Templates has provided a calculator to help employers estimate their benefit.

 

CRA announced that any business that qualifies for the Temporary Wage Subsidy, if they intend to claim or have claimed either the TWS or CEWS, must submit the new mandatory PD27, 10% Temporary Wage Subsidy Self-Identification Form for Employers for each employer payroll program (RP) account. This includes employers who also qualified for CEWS. CRA will use this form to reconcile the RP accounts as the benefits were claimed by a reduction in payroll withholding remittances.

 

The new Form PD27 should be submitted before the end of 2020 so CRA has time to update the appropriate payroll program accounts before T4s for 2020 are filed. This will also help avoid receiving a payroll discrepancy notice. 

 

To complete this form, employers will need the total number of eligible employees paid during the eligible period, along with gross remuneration and source deductions (income tax, CPP, EI). The TWS claimed for each pay period that falls within March 18 to June 19 is also to be reported. 

 

For employers who qualified for both TWS and CEWS, CRA states that if the eligible employer fails to file the form, they will be credited for the entire TWS and their CEWS claim may be reduced and recovered, if necessary. Note that the TWS claim per period should correspond to the TWS amount that was reported for each CEWS claim.

 

The completed Form PD27 can be submitted online through the CRA’s My Business Account or mailed/faxed to the CRA National Verification and Collection Centre within the employer’s jurisdiction as listed on the form.

 

If you are an eligible employer, but you have not reduced your payroll remittances, you can still calculate the TWS on remuneration paid from March 18 to June 19, 2020. The CRA will pay the amount of the subsidy to you or transfer it to your next year’s remittance.

 

July 27 Update


Canada Emergency Wage Subsidy (CEWS)  program has been extended until December 19, 2020, with redesigned program details until November 21, 2020. Beginning July 5th with period 5, the changes to the program will include both:

  1. A Base subsidy to all eligible businesses that have experienced any revenue decline.
    • The base subsidy amount will be in relation to the revenue decrease and the percentage will gradually decrease.
  2. A Top-up subsidy of up to an additional 25% for employers that have a greater than 50% revenue decline.

For July (Period 5) and August (Period 6), employers would not receive a subsidy rate lower than they would have had under the previous rules and if that is the case, the previous rules would still apply.

 

The deadline for applications has been extended to January 31, 2021. Applications can be made through CRA My Business Account or Represent a Client.

 

We've outlined the revenue decline thresholds, corresponding subsidies and additional details on a separate CEWS details page or visit the Federal CEWS page.

 

July 24 Update

 

For businesses that are federally regulated, the Government of Canada has made amendments to the Canada Labour Standards Regulations to temporarily extend the layoff period by up to six months.  For employees laid off prior to March 31, 2020 and up until September 30, 2020, the time is extended by six months or to December 30, 2020 unless a later recall date was provided in a written notice at the time of the layoff.

 

Employment Insurance Sickness Benefits: For Canadians without paid sick leave (or similar workplace accommodation) who are sick, quarantined or forced to stay home to care for children

  • Effective March 15, 2020, waiving the one-week waiting period for those in imposed quarantine.
  • Waiving the requirement to provide a medical certificate.

Corporate Measures

 

Our HR Solutions team has prepared a Post COVID-19 Frequently Asked Questions to assist businesses during the reopening process.

Ontario has provided new public health measures and safety guidelines during COVID-19 and our HR Health & Safety specialists created a helpful COVID-19 Re-Opening Worksheet.  

 

September 9 Update

 

Canada Emergency Commercial Rent Assistance Program (CECRA)  has been extended for the month of Sptember through Canada Mortgage Housing Corporation.  To be eligible for a loan, property owners will be required to reduce the rental costs of small business tenants for April to September 2020 by at least 75%. The Federal and Ontario government would provide a forgivable loan to cover 50% of the total 75% reduction in the rent paid by the tenant. The remaining 25% of the rent reduction would be rent waived by the landlord.

 

A signed rent forgiveness agreement that also includes a moratorium on evictions for three months must be in place between impacted tenants and landlords. Samples are provided on the CMHC web page. 

 

This program applies to commercial properties with small business tenants.  Commercial properties with a residential component, and residential mixed-use properties with a 30% commercial component, would also be eligible for support with respect to their commercial tenants.

 

An eligible small business tenant is one that:

  • Pays monthly rent not exceeding $50,000 in gross rent payments,
  • Generates no more than $20 million in gross annual revenues, and
  • Is experiencing a decline of at least 70% in pre-COVID-19 revenues (determined by comparing revenues in April, May and June to the same month in 2019 or alternatively compared to average revenues for January and February 2020).
    • Tenants approved in the April, May and June application are eligible for the July, August and September extensions.
    • If a business had an average revenue decline of 70% or more in April, May and June, they are deemed eligible for the additional monthes of rent relief for July , August and September. However, not all tenants in the original application need to be included for the July, August and September extensions.

Not-for-profit organizations and charitable entities would also be considered for the program.  

 

August 31 Update

 

Canada Emergency Business Account (CEBA)  deadline for application has been extended from August 31 to October 31, 2020.  CEBA allows banks and credit unions to provide interest free loans of up to $40,000 for non-deferrable operating expenses.  The loans will be guaranteed by the Government of Canada and 25% of the loan amount will be forgivable (up to $10,000) if 75% is repaid before December 31, 2022.  If there is a balance on the loan on December 31, 2022, it would be converted to a 3 year term at 5% and there would be no loan forgiveness.


Eligibility includes Canadian small businesses in operation as of March 1, 2020.  There are two application streams:

  1. Payroll Stream: For small businesses with a 2019 payroll between $20,000 and $1.5 million
    • Apply through the financial institution where they have a business bank account OR
  2. Non-Deferrable Expenses Stream: Less than $20,000 in payroll (including sole proprietors receiving income directly from their businesses, businesses that rely on contractors or family-owned corporations that pay employees through dividends rather than payroll) that have a CRA business number and have filed a 2018 or 2019 tax return.
    • Step 1: Apply through the financial institution where they have a business bank account 
    • Step 2: Provide documentation to a CEBA website of eligible non-deferrable expenses between $40,000 and $1.5 million.  Categories for these expenses include wages to independent third parties, rent or leases, property taxes, utilities,  insurance, regularly scheduled debt payments and payments to independent contractors. Expenses will be subject to verification and audit by the Government of Canada. 

The Business Credit Availability Program has been extended until June 2021. The Business Development Bank of Canada and Export Development Canada will provide $40 billion in direct lending and other types of financial support to small and medium-sized businesses.

 

August 12 Update

 

Reopening Ontario: All Ontario health unit regions are in A Framework for Reopening our Province: Phase 2: Restart - Stage 3.

All businesses should refer to their sector-specific workplace health and safety guidelines provided.

 

May 14 Update

 

The Federal government announced the Agriculture and Food Business Solutions Fund which provides $100-million through Farm Credit Canada to help companies in times of need with flexible financing solutions, such as convertible debt. Applications up to $10 million will be considered if a company can demonstrate an impact from an unexpected business disruption.

 

May 13 Update

 

Regional Relief and Recovery Fund (RRRF), delivered by FedDev Ontario in Southern Ontario, for small and medium businesses that have applied to existing measures for which they are eligible and been declined, including 

  • Canada Emergency Business Account (CEBA)
  • Business Credit Availability Program (BCAP)
  • BDC COVID-19 Working Capital Loans; as well as
  • Relevant sector specific COVID-19 programs i.e. Farm Credit Canada lending.

The interest free loans for Canadian or provincially incorporated businesses with up to 499 full-time equivalent employees that have had business revenues affected by the COVID-19 Pandemic.

  • Option 1) up to $40,000 for fixed operating costs and 25% of the loan amount will be forgivable (up to $10,000) if 75% is repaid before December 31, 2022.  No payments are required until December 31, 2022 but payments could be made anytime between January 1, 2021 and December 31, 2022 after which the balance owing will be converted to a 3 year loan with a fixed payment schedule.
  • Option 2) up to a $500,000 loan with no payments required until December 31, 2022 and fixed payment schedule beginning in January 2023.

May 5 Update

 

A national AgriRecovery initiative of up to $125 million in funding to assist producers who have seen additional costs incurred related to COVID-19. Among other things, the program includes set-asides for cattle and hog producers due to the effect of temporary closures of food processing plants. 
 

April 17 Update

 

Community Futures Network provided an additional $287 million to support rural businesses and communities, including through access to capital.

 

March 25 Update

 

The Ontario Government announced 

  • The Employer Health Tax Exemption has been retroactively increased for 2020 to private-sector employers on the first $1 million of payroll.  The exemption is not available to employers with an annual payroll of over $5 million. 
  • Employers will be allowed to defer Workplace Safety and Insurance Board payments up until August 31, 2020. 
  • Proposed Regional Opportunities Investment Tax Credita 10% refundable corporate income tax credit for Canadian-controlled private corporations that make qualifying capital investments between $50,000 and $500,000 in eligible regions (includes Perth, Huron, Grey and Bruce).

March 23 Update

 

Farm Credit Canada allowed an additional $5 billion in lending capacity.

 


Personal Measures

 

August 20 Update

 

The Canada Emergency Response Benefit was extended by 4 weeks.  This taxable benefit provides $500 per week, paid in $2,000 blocks, for up to 28 weeks between March 15, 2020 to October 3, 2020, to  workers who 

  • Have stopped working because of reasons related to COVID-19 beyond their control (i.e. they must not voluntarily quit) or are eligible for Employment Insurance regular or sickness benefits or have exhausted their Employment Insurance regular benefits between December 29, 2019 and October 3, 2020,
  • Had employment or self-employment income (includes non-eligible dividends) of at least $5,000 in 2019 or the 12 months prior to application,
  • Reside in Canada and be at least 15 years old at the time of application.

When submitting your first claim, you cannot have earned more than $1,000 in income for 14 or more consecutive days within the four-week period; for subsequent claims, you cannot have earned more than $1,000 in income for the entire four-week period of your new claim.

 

Temporary measures to help Canadians were proposed and will need legislation passed once Parliament resumes.  These are intended to begin as of September 27, 2020.  These include:

 

1. Increased access to Employment Insurance EI benefits  

  • Minimum insurable hours of work required to qualify reduced to 120
  • Minimum benefit rate of $400 per week
  • At least 26 weeks of regular benefits

2. The Government would freeze the EI premium rate for employees at the 2020 level of $1.58 per $100 of insurable earnings for two years. The rate for employers, who pay 1.4 times the employee rate, will also remain unchanged at $2.21 per $100 of insurable earnings.

 

3. For workers who are not eligible for EI, a new Canada Recovery Benefit is proposed from September 27, 2020 for one year to provide $400 per week for up to 26 weeks.  This is mainly for the self-employed and those working in the gig economy who are unable to work due to the COVID-19 pandemic.

 

4. A new Canada Recovery Sickness Benefit would provide $500 per week, for up to two weeks, effective September 27, 2020 for one year, for workers who are unable to work because they are sick or must self-isolate due to COVID-19.

 

5. A new Canada Recovery Caregiving Benefit would be effective from September 27, 2020 for one year, and provide $500 per week, for up to 26 weeks per household to eligible Canadians that cease working in order to care for a family member in specific situations.

 

July 27 Update


New Disability Support Payment introduced in Bill C-20.  This one-time, tax-free, non-reportable payment of up to $600 to eligible individuals who have:

  • A valid Disability Tax Credit certificate (eligible persons not yet in possession of such a certificate would be able to apply for one up to 60 days after July 27);
  • Canada Pension Plan disability benefits or Quebec Pension Plan disability benefits; or
  • Disability supports provided by Veterans Affairs Canada.

May 13 Update

 

The Canada Emergency Student Benefit (CESB) for post secondary students and new graduates who are not eligible for CERB and are looking for, but unable to find, work or unable to make more than $1,000 before taxes over the four-week period for which they are applying.  It is available from May to August 2020, providing $1,250 per month to eligible students or $2,000 per month for eligible students with dependents or disabilities.  Applications  can be made through CRA My Account.

 

April 6 Update

 

The Government of Ontario has opened applications for eligible parents to receive a one-time payment of $200 per child aged 0 to 12 or $250 per child with special needs aged 0 to 21.  If families previously registered for the Support for Parents during strike days, they do not need to register again.

 


Wealth Management

 

March 18 Update

 

Minimum RRIF Withdrawals: The required minimum withdrawals from Registered Retirement Income Funds (RRIFs) will be reduced by 25% for 2020. Similar rules would apply to individuals receiving variable benefit payments under a defined contribution Registered Pension Plan.


Firm Communications

 

April 16, 2020 - Navigating the Financial Implications of COVID-19

This recorded webinar uses a case study approach for common small business scenarios to demonstrate how the most recent measures can be applied.  The presentation can also be downloaded here.

 
April 13, 2020 - Canada’s COVID-19 Financial Relief Plan Newsletter

A consolidated summary of support for businesses, individuals and other changes in their most current state of affairs as of April 11, 2020.