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Tax Measures Under Canada’s COVID-19 Economic Response Plan

Reader Alert: On September 24th, 2020, the Speech from the Throne announced many tax and related initiatives including the extension of the Canada Emergency Wage Subsidy (the “CEWS”) program to the summer of 2021.[1] Reader Alert: On July 17, 2020, the Government of Canada released details, as well as draft legislation, in respect of a redesigned Canada Emergency Wage Subsidy...

Working from home this year? You may be eligible for a new tax deduction

TORONTO — With more Canadians working from home amid the COVID-19 pandemic, the Canada Revenue Agency (CRA) has simplified how employees can claim home office expenses[1] on their personal income tax return for 2020. The CRA announced on Tuesday that those who worked from home more than 50 per cent of the time over at least four consecutive weeks in...

Coronavirus Stimulus Checks: Here’s What IRS Wants You to Know Before 2020 Taxes

Filing taxes is one of the most important things that people need to do in the New Year. This time, however, it will be even more important because of the stimulus checks. Considering this, the IRS has come up with a press release[1] to help people file[2] their 2020 taxes, especially those who didn’t get coronavirus stimulus checks, or got...

COVID-19: Economic Relief Measures Announced to Date

Across Canada, governments are announcing measures to address the economic impact of COVID-19. We will track them here. We will update this page on a regular basis. The information below is current as of August 28, 2020. For the latest information, please visit our COVID-19 hub[1] including our Tax summary – Relief Measures under Canada’s COVID-19 Economic Response Plan[2] and our...