TAX TICKLERS… some quick points to consider…

– CRA has opined that U.S. Economic Impact payments received by residents
of Canada are not taxable in Canada.
– 1,252,830 Canada Emergency Wage Subsidy
(CEWS) applications have been approved for a total
value of $41.12 billion (as of October 4, 2020).
– On October 9, 2020, the Government announced that
the CEWS program will be extended to June 2021.
Further, the maximum subsidy for period 8
(calculated using October’s revenues) of 65% would
be maintained for the next two periods even
though it was scheduled to decline.
– 767,336 businesses have been approved for the Canada Emergency
Business Account (CEBA) for a total disbursal of $30.62 Billion (as of
October 8, 2020).

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