2020 Year End Tax Planning Tips

2020 Year End Tax Planning Tips

This year had been challenging for both businesses and individuals, the government had implemented various assistance programs in response. The Federal Government provided a Fall Economic Statement on November 30, 2020, which can be found at the following link.

 

Year-end tax planning
As we wind up the year 2020, we have prepared a summary of the items you may wish to consider you can read here.

 

Canada Emergency Response Benefit (CERB)
A reminder that the last day to apply retroactively for CERB is December 2, 2020(today). CERB was available until September 26, 2020. New programs have been introduced to replace CERB.

 

Canada Emergency Business Account (CEBA)
Application deadline for CEBA has been extended to March 31, 2021. We will provide more information about the additional CEBA loan amount as it becomes available.


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