News

As we approach the end of the year, it is time to consider some tax planning opportunities that may be available to you for 2021.  The planning points outlined below are not intended to serve as specific advice; you should always consult your D&H advisor before implementing any of the suggestions contained in this newsletter. […]

The Government of British Columbia has introduced a Provincial Sales Tax (“PST”) rebate for select machinery and equipment.   The rebate is available to most incorporated businesses for PST on purchases of qualifying machinery and equipment made between September 17, 2020 and September 30, 2021.  The rebate is not available to sole proprietors or unincorporated partners of partnerships.  Incorporated partners can […]

Introduction On April 19, 2021, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience. The budget proposes to extend business and income support measures through to the fall and provides for investments to create jobs. It also aims to fight climate change and support […]

With a little less than three weeks left until the personal tax filing deadline, this is a good time to update our clients and colleagues on the status of tax filing and payment deadlines for the 2020 tax year. Unlike last year, the Canada Revenue Agency (CRA) has not announced any tax filing extensions, and […]

Programs for businesses: The Government of Canada and the Government of British Columbia have introduced many relief programs designed to soften the economic effects of the Covid-19 pandemic on Canadian businesses, which include: Canada Emergency Business Account (“CEBA”) Applications for the CEBA program are being accepted until March 31, 2021. This includes the full $60,000 […]

The Government recently introduced Bill C-9, An Act to Amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy). Bill C-9 implements the new Canada Emergency Rent Subsidy (“CERS”), which provides eligible entities affected by COVID-19 with direct support for rent and property holding costs until June 2021. Bill C-9 received […]

Current filing requirements for trusts Under the current rules, a trust (including a deemed resident trust) is generally only required to file an annual trust income tax and information return (a “T3 return”) if it has taxes payable or it made distributions (whether on account of capital or income) to any of its beneficiaries. In […]

As we approach the end of the year, it is time to consider some tax planning opportunities that may be available to you for 2020.  The planning points outlined below are not intended to serve as specific advice; you should always consult your D&H advisor before implementing any of the suggestions contained in this newsletter. […]

Form PD27 – 10% Temporary Wage Subsidy Self-identification Form for Employers The Temporary Wage Subsidy for Employers (“TWS”) program was introduced on March 25, 2020. It was a three-month subsidy provided to eligible employers to reduce the amount of federal, provincial, or territorial income tax that they otherwise must remit to the Canada Revenue Agency (“CRA”). The […]

Updated 2020 EHT Installment Due Dates The B.C. Ministry of Finance recently announced extended installment payment due dates for 2020 Employer Health Tax (“EHT”) installments. This measure is intended to provide additional relief to employers during the COVID-19 pandemic. The due dates for the first and second installments, normally due on June 15 and September […]

The purpose of this newsletter is to update our clients and colleagues on the status of tax filing and payment due date extensions, particularly those that are close to ending. Since the Covid-19 crisis began in mid-March 2020, the Canada Revenue Agency (“CRA”) has announced many tax filing and payment extensions to assist taxpayers in […]

On July 17, 2020, the Federal Government announced significant changes to the Canada Emergency Wage Subsidy (“CEWS”) program to extend the program to November 21, 2020, broaden its eligibility criteria, and modify the subsidy calculation. This newsletter provides updated information on the CEWS based on Bill C-20: An Act respecting further COVID-19 measures (“Bill C-20”) […]