Updates on Government Relief Initiatives – October 2020
On October 2, 2020 additional Government Relief Initiatives were passed to replace the outgoing CERB Program that ended on October 3, 2020. You will find the full details in this Link regarding the new:
- Canada Recovery Benefit (CRB)
- Canada Recovery Caregiving Benefit (CRCB)
- Canada Recovery Sickness Benefit (CRSB)
In addition, there are other key discussions happening around enhancement of the First-Time Home Buyer Incentive, development of a free, automatic tax Filing for simple personal tax returns, and the creation of a new Canadian Disability Benefit model. We will provide you with updates as details become available.
The Government has also expanded support of Businesses as of October 9, 2020 including
- Canada Emergency Wage Subsidy (CEWS)
- Canada Emergency Business Account (CEBA)
- Canada Emergency Rent Support (CERS)
Please note there are additional T4 reporting requirements for the 2020 calendar year that are required for the CRA to validate subsidy payment. The CRA has also resumed their audit, compliance and collection activities that includes reviews of CEWS claims. If you have questions please feel free to reach out to us to discuss.