COVID-19 Information

We encourage you to file your income tax and benefit return electronically and as soon as possible to make sure your benefits and credits are correct.

Do you have EI enquiries regarding COVID-19?

1-833-381-2725

Tax Deadline and Payment Deadline Changes

 

Individuals - The deadline to file your income tax and benefit return will be deferred until June 1, 2020.
The deadline to pay any balance due for your individual income tax and benefit return for 2019 has been extended from April 30, 2020, to September 1, 2020. This means you will not be assessed any penalties or interest if your balance due is paid by September 1, 2020.

Self -employed and their spouse or common law partner - For self-employed individuals or those who have spouses or common-law partners that are self-employed, the deadline to pay any balance due for your individual income tax and benefit return has been extended from April 30, 2020, to September 1, 2020.

Businesses

Corporations - The deadline for corporations to pay any income tax amounts that become owing or due after March 18, 2020 and before September 1, 2020 has been extended to September 1, 2020. This means you will not be assessed any penalties or interest if your balance due is paid by September 1, 2020.

GST/HST - The deadline to file returns remains the same. Payments that would have been due starting March 27, 2020 and up to the end of June 2020 were due by June 30, 2020. If you are unable to make these required payments, you may be able to request interest relief from the Canada Revenue Agency. This link may help.

 

WCB - The Government of Alberta has announced measures to provide financial support to help employers through the challenges of the global COVID-19 pandemic.

These measures include a deferral of 2020 WCB premium payments for all private sector employers until 2021. When invoicing resumes in 2021, small and medium-sized employers (those with $10 million or less in insurable earnings) will only be required to pay 50 per cent of their 2020 premiums – the other 50 per cent will be paid by the Government of Alberta.

 

Alberta Small and Medium Enterprise Relaunch Grant - Starting June 29, 2020, the Alberta Government is offering a grant worth up to $5,000 to businesses who experienced at least a 50% drop in revenues due to COVID-19 and have re-opened or plan to re-open soon. Apply here.
 

Wage Subsidy Programs:

75% Wage Subsidy (Canada Emergency Wage Subsidy - CEWS) - determine first if you qualify. CRA has a webpage to assist with the subsidy.

  • You are a Canadian employer and you have experienced at least a 15% reduction in revenue for March (first month test) or 30% for April, May or June (subsequent month tests). It can be compared to the same month in the prior year or the average of January and February 2020. You can also choose if you will compare based on accrued or cash method. When you meet the qualification for a month, the following month you will automatically qualify.

  • The subsidy will not exceed 75% of pre-crisis remuneration based on the average weekly amounts paid January 1 to March 15 (maximum $847/week/employee)

  • The subsidy can apply to owner-managers who meet the requirement to be on the payroll January 1 to March 15

  • An additional subsidy is available for employers who have their employees on paid leave during the crisis to also be reimbursed for 100% of the employer portion of CPP and EI

  • You need to have a "My Business" account set up with the Canada Revenue Agency to apply online or we as your representative can file for you with your signature

  • Calculations are tricky and penalties for gaming the system are high so be sure to be informed and correctly make your applications

  • You will need to re-apply each month that you qualify

  • The passed legislation covers four four-week periods from March 15 to July 4

  • The government has announced the program will be extended to the end of August 2020 with modifications to the calculations still to be announced

If you qualify for the 10% Wage Subsidy, you can use this subsidy on its own or in conjunction with the CEWS (it is optional if you are eligible for CEWS):

  • All of our clients who have small businesses will qualify for the 10% subsidy 

  • Each corporation in an associated group is entitled to the subsidy

  • Starts for payroll periods including March 18 and ending on June 19

  • You can reduce your payroll remittance by a maximum of 10% of gross wages or the income taxes owing, whichever is greater (excludes CPP and EI payments)

  • If the subsidy is more than the income tax owing, you can carry forward the amount to the next period

Neither subsidy applies for contractor payments

Both subsidies will be taxable when the income tax return is filed

Canada Emergency Commercial Rent Assistance (CECRA)

  • In limited circumstances, there may be assistance for those renting commercial space

  • The details are available at this link 

Canada Emergency Business Account (CEBA)

  • Starting April 9, eligible businesses may apply for an interest-free business loan through your financial institution

  • It is interest-free until December 31, 2022 and eligible for 25% complete forgiveness if 75% of the loan is repaid fully on or before this date

  • If it is not repaid by this date, it can be extended for a 3-year term with a 5% interest rate

  • The criteria to be eligible requires that the business had between $20,000 and $1.5M of gross payroll in 2019 (amounts updated April 16, 2020)

  • If you cannot qualify based on the above criteria, see this link for additional qualifications that can be used to potentially access this funding

  • Application deadline is August 31, 2020

If you are not eligible for the CEBA, there is an alternate source of funding available​

Canada Emergency Response Benefit (CERB)

  • As an individual you may be entitled to up to $2,000 per four week period (for a maximum of 24 weeks) if you are unable to work or have significantly reduced opportunity to work due to COVID-19

  • All of the details can be found here

  • If you need to pay back some or all of your CERB benefits, check this link

Canada Emergency Student Benefit (CESB)

  • A post-secondary student not entitled to CERB and unable to find work due to COVID-19 may be eligible for $1,250 per month this summer or $2,000 if they have a dependent

  • Apply with My Account or via phone at the Canada Revenue Agency - see details here

Helpful links

 

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 Last modified: June 23, 2020

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