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Covid-19 Tax and Economic Relief Measures

Ryan Keey, Senior Tax Writer, Thomson Reuters

Thomson Reuters outlines the government’s responses to Covid-19 from a tax perspective, through the various funding measure discussed in the articles below.

June 12, 2020

(Note – the Canada Emergency Wage Subsidy (CEWS) is Covered in a Separate Second Newsletter). June 12, 2020 (recent additions – i.e. since the previous posting – have been highlighted). Summary Table: Extended Tax Filing and Payment Deadlines and Special Administrative Measures during the COVID-19 Crisis. Below is a summary (PB: Ryan Keey) of tax relief related measures that have been announced to-date by the federal and provincial governments, followed by an extensive compendium of CRA and provincial publications and links that provide more details on the tax measures as well as other economic/business related measures ([editorial comments have been added]).

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June 3, 2020

The Canada Emergency Wage Subsidy (the CEWS) was enacted by Bill C-14: A second Act respecting certain measures in response to COVID-19, on April 11, 2020. Per Finance Backgrounder 2020-04-11: The Canada Emergency Wage Subsidy, the “[CEWS] aims to prevent further job losses, encourage employers to re-hire workers previously laid off as a result of COVID-19, and help better position Canadian companies and other employers to more easily resume normal operations following the crisis”. With the exception of“public institutions” (including municipalities and local governments, Crown corporations, wholly owned municipal corporations, public universities, colleges, schools and hospitals), employers of all sizes and across all sectors of the economy carrying on business in Canada maybe eligible for the CEWS, including individuals, public and private corporations, certain partnerships with members that include eligible entities, NPOs, trusts, registered charities and certain tax-exempts.

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May 20, 2020

(The Canada Emergency Wage Subsidy (the CEWS) was enacted by Bill C-14: A second Act respecting certain measures in response to COVID-19, on April 11, 2020. Per Finance Backgrounder 2020-04-11: The Canada Emergency Wage Subsidy, the “[CEWS] aims to prevent further job losses, encourage employers to re-hire workers previously laid off as a result of COVID-19, and help better position Canadian companies and other employers to more easily resume normal operations following the crisis”. With the exception of “public institutions” (including municipalities and local governments, Crown corporations, wholly owned municipal corporations, public universities, colleges, schools and hospitals), employers of all sizes and across all sectors of the economy carrying on business in Canada may be eligible for the CEWS, including individuals, public and private corporations, certain partnerships with members that include eligible entities, NPOs, trusts, registered charities and certain tax-exempts.

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