Feltham & associates Accounting Blog

On April 19, 2021, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience, to the House of Commons.

As Canada navigates the narrow path between lockdowns and vaccines, this year’s federal budget delivered sweeping stimulus to help the economy along its path of recovery. This article covers topics such as pandemic-specific spending initiatives, new initiatives, revenue generation, economic implications, and fiscal considerations.

Is the CRA Extending the Tax Deadline for 2021? Will I owe taxes on my government benefits? Working from home, eligible for home office expenses? Digital news subscription expenses, am I eligible? These are some of the questions our clients have come to us with, take a look at this article for the answers plus more....

This Canadian wage subsidy program has been extended until June 2021 but the details of the program after December 19, 2020 (period 10) have not been released. The Government has proposed that this would return to 75%, but this is not yet approved. They have also not provided any recent update re furloughed employees, or a stipulation re pre-crisis pay limits.

“Complacency is a state of mind that exists only in retrospective: it has to be shattered before being ascertained.”

– Vladimir Nabokov

The CRA is extending the payment due date for the current year individual, corporate and trust income tax returns, including instalment payments, from September 1, 2020 to September 30, 2020. The CRA is also waving interest on existing tax debts related to individual, corporate and trust income tax returns from April 1, 2020 to September 30, 2020 and from April 1, 2020 to June 30, 2020 for goods and services tax/harmonized sales tax (GST/HST) returns.

Reopening during COVID-19 means allowances will have to be made for employees who wish to work off-site, experts say. Below is an article which includes good advice for employers on how to accommodate the returning of staff and some changes which may have to be made along the way.

Feltham & Associates Chartered Professional Accountants has answered some common questions that are asked about wage subsidy for employers.

This document summarizes selected government comments up to March 18, 2020.

Since the beginning of March, restrictions and measures related to COVID-19 have rapidly escalated. 

Feltham & Associates Chartered Professional Accountants has summarized for you some attitudes and actions you should consider during this challenging time.

COVID-19 – Financial Relief for Canadians

Since the beginning of March, restrictions and measures related to COVID-19 have
rapidly escalated.

We live in a digital world where everything is captured electronically in real time. 

Owner-managers should discuss Canada Revenue Agency (CRA) changes to employee vehicle allowances with their CPAs before announcing any changes to company policy.