Publications 

Recent updates, blogs and tools:

Calculate your CEWS Today- New Wage Subsidy Calculator
- By MPCPA Professional Corporation, April 27, 2020

 

Businesses can start to apply for the Canada Emergency Wage Subsidy (CEWS) on April 27, 2020. Ensure your business is applicable and that you have all of the information required, such as the total number of eligible employees and gross payroll.

 

Please see this useful link, which includes a calculator to estimate the potential wage subsidy your business may be entitled to: 

https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy.html

 

If you require assistance with the application or you want to ensure you are claiming allamounts your are entitled to, please reach out to MPCPA Professional Corporation.

Wage subsidy program for employers

- By MPCPA Professional Corporation, April 25, 2020

 

The federal government will be providing eligible employers who have experienced a significant decline in revenues with a wage subsidy. For purposes of the subsidy, eligible employers include individuals, taxable corporations, and partnerships consisting of eligible employers, as well as non‑profit organizations and registered charities.

The subsidy amount for a given employee on eligible remuneration paid between March 15 and June 6, 2020 would be the greater of:

  • 75 per cent of the amount of remuneration paid, up to a maximum benefit of $847 per week; and

  • the amount of remuneration paid, up to a maximum benefit of $847 per week or 75 per cent of the employee’s pre-crisis weekly remuneration, whichever is less.

Details of the wage subsidy program, and how it will be administered, are still being developed and the most up-to-date information can be found on the Finance Canada website at:

https://www.canada.ca/en/department-finance/news/2020/04/the-canada-emergency-wage-subsidy.html

Deferral of GST/HST remittance deadlines

- By MPCPA Professional Corporation, April 25, 2020

Businesses which are required to make GST/HST payments or remittances which become owing on or after March 27, 2020 and before June 2020 can defer payment of those amounts.

The deferral will apply to GST/HST remittances for the February, March and April 2020 reporting periods for monthly filers; the January 1, 2020 through March 31, 2020 reporting period for quarterly filers; and for annual filers, the amounts collected and owing for their previous fiscal year and instalments of GST/HST in respect of the filer’s current fiscal year.

Where such remittances are made on or before June 30, 2020, no interest or penalties will be imposed by the Canada Revenue Agency, regardless of the original due date.

© 2020 by MPCPA Professional Corporation

MPCPA Professional Corporation


Tel: (905) 246 - 1267
Email: cpamadan@gmail.com
Address: 92 Arizona Drive, Brampton

Ontario, L6Y0R6

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