In this January blog we decided to gather all the updates that have been just announced surrounding the second lockdown in Ontario plus some other deadlines and reporting requirements coming up. Read up!
Construction Industry updates
An important date to keep in mind is January 12th, 2021. Residential projects started before said date you will be able to continue. Also, construction to prepare a site for an institutional, commercial, industrial, or residential development will be allowed to continue. As well as projects funded in whole, in part by or undertaken by:
A. the Crown in right of Canada or in right of Ontario,
B. an agency of the Crown in right of Canada or in right of Ontario,
C. a municipality,
D. a service manager as defined in the Housing Services Act, 2011, or
E. a registered charity and not for profit within the meaning of the Income Tax Act (Canada)
For the full list of exceptions, click here.
Canada Response Benefit
There are three types of CRB that an individual can apply to. We have broken down this list for you in a previous blog. Read it again here. If you choose to apply for CRB ensure that this period does not overlap a pay period, your business/employer is paying you for.
If you have more questions, click here.
The Canada Recovery Sickness Benefit (CSRB)
This benefit is not available to those who travelled internationally for non-essential reasons. The Government of Canada created this program to give people sick leave if they needed it and otherwise wouldn't have one from their employer. The Government intends to introduce legislation so that these changes will come into effect retroactively on January 3rd, 2021.
For more information, click here.
Business Subsidies Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) Deadlines
The deadline to apply is the CEWS or the CERS is the latter of 180 days after that period has ended or January 31st, 2021. This also applies to amendments. For periods 1 to 5 (March 15th to August 1st, 2020) the window of application/amendments is closing. If you are unsure about your calculations or want to check if your business should apply, consult with us.
Temporary Wage Subsidy Reporting (PD27)
You need to complete and submit Form PD27 to the CRA if you are eligible to take advantage of the TWS and:
you already reduced your remittances
you intend to reduce your remittances (the form will help you calculate your eligible TWS amount)
you claimed the Canada Emergency Wage Subsidy (CEWS) and, as a result, need to confirm on Form PD27 the amount of the TWS you are taking advantage of (refer to Line F of your CEWS application)
If we administered payroll for your business in 2020, we have already remitted this reporting on your behalf. And no action is required on your part.
You are encouraged to contact us regarding this special reporting if:
You were not a client of ours during 2020 and/or
You run your payroll yourself or through another service provider
If you need help keeping up with the latest updates regarding subsidies and reporting requirements for your business connect with us by filling out the Contact Us Form.