How the Canadian Government’s COVID-19 Response Plan has Helped Canadians

In light of one of the more threatening and deadly pandemics of all time, the Canadian government launched the COVID-19 Economic Response Plan on March 18th, 2020. As non-essential services were closed to slow the spread of COVID-19, many businesses temporarily, or permanently shut their doors and let their employees go. Since Canada’s COVID-19 Economic…


Alberta Government’s COVID-19 Economic Response

In addition to Canada’s COVID-19 Economic Response Plan, there have been some changes to Alberta’s economic response. The Alberta government will provide immediate funding and supportive measure for local businesses, employers and employees. Corporate income tax deadline extension Corporate income tax balances and installment payments will be deferred from March 19 until August 31, 2020…


Canada’s COVID-19 Economic Response Plan: For Individuals and Families

In light of the recent threat of COVID-19 to the livelihoods of  employees, families and self-employed individuals, the Prime Minister announced on March 18th, 2020 the Government of Canada’s COVID-19 Economic Response plan which will provide up to $27 billion in direct support to Canadian workers and businesses. Here are some of the main highlights…


Foreign Property, Foreign Corporations and Offshore Accounts

Do you own foreign property, a foreign corporation and/or offshore accounts? See below more information on the tax implications of owing foreign property. CRA is looking into Canadians with offshore accounts and foreign property. Ensure you are filing form T1135 – Foreign Income Verification Statement if you own any foreign property over $100,000. The maximum…