The COVID-19 pandemic has fundamentally changed the way that the world operates, and it is unlikely to change significantly in the near-term. How will these changes affect how nonprofits function once the worst of the pandemic has passed? Here are four key issues to watch.
The April 19 Federal budget introduced the New Canada Recovery Hiring Program. The purpose of this program is to compensate eligible entities for extra costs incurred for increased wages or hours worked or hiring more staff.
On April 19, 2021, the Minister of Finance presented the 2021 Federal budget which included the extension of the Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS).
Like for all other business operations, the COVID-19 pandemic is changing how nonprofit organizations execute their fundraising activities. Many nonprofits have switched to virtual activities to keep donors engaged and to encourage giving.
It is important to note that the CEBA debt forgiveness amount is calculated on the highest amount drawn from your CEBA at any time up to and including a date to be determined by your financial institutions. You should discuss with your account manager at your financial institution to ensure to meet the program requirements in order to benefit from the forgiveness.
Over the last several months many of us have received government aid, whether directly through CERB payments, forgivable loans, wage subsidies, rent subsidies and other payments. Are these payments taxable, and if so, how?
Because of the COVID-19 crisis, both the federal and Quebec governments have put in place simplified procedures to be able to claim home office expenses.
Canada Revenue Agency (CRA) has recently announced additional reporting requirements for employers for fiscal year 2020 related to COVID-19 relief measures. There may be important action for you to be taken.
Since November 30, 2020, the CRA’s online platform, allowing claims to be filed under the CERS is available. Our decision tree will provide insights as to your eligibility and subsidy quantum you may get from the program.
On November 30, 2020, Canada’s Minister of Finance, Chrystia Freeland, released the “Supporting Canadians an Fighting COVID-19 : Fall Economic Statement 2020” plan. This plan includes proposed changes that have yet to receive approval by the House of Commons and Royal Sanction from the Senate. Notwithstanding the foregoing, here is what you should know about…