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CRA webinar — Benefits and Credits for Caregivers

May is Caregiver Awareness month in BC and the Canada Revenue Agency is offering EXTRA live webinars on ‘Benefits and Credits for Caregivers’. The webinars are: Thursday, May 13, 2021 from 1:30 – 3 p.m. PDT Tuesday, May 25, 2021 from 10 – 11:30 a.m. PDT There are many Benefits and Credits for checking out the Caregivers’ webinar: As a caregiver for an individual with a ....

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Ontario, Canada Announces it Will Introduce Paid COVID-19 Leave | Littler

Do not already receive paid sick time through their employer.
Independent contractors and federally regulated employees would not qualify for paid leave under the legislation.
Doctor’s or Nurse’s Note
Employers would not be permitted to require an employee to provide a certificate from a doctor or nurse as evidence of their entitlement to paid leave.
Government Reimbursement
Eligible employers would be able to apply for a reimbursement from the government of up to $200 per paid leave day taken by an employee.
If an employee’s regular rate of pay is less than $200 per day, reimbursement to the employer would be no more than the employee’s regular rate of pay. ....

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Here's What Will Happen if You Miss Friday's Tax Deadline

Here’s What Will Happen if You Miss Friday’s Tax Deadline
Many were surprised when the Canada Revenue Agency (CRA) didn’t extend the tax deadline this year. The pandemic rages on, and tax specialists across the country warned officials that this year’s complicated tax filings (thanks to SERP payments) and public health restrictions could led to more late filings.
But let’s face it: as of now, this Friday (April 30) is the deadline for filing your taxes. If you miss that deadline, here are some of the consequences you could face.
Late-filing penalties and interest
Late filers who owe taxes will face some hefty charges for missing the April 30th deadline. For one, you’ll pay a 5% late-filing fee applied to your tax bill. On top of that, you’ll pay 1% of your owed balance for each full month you fail to file (up to 12 months). ....

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Canada's 2021 Budget Includes Announcements Relevant to Employers | Littler

To embed, copy and paste the code into your website or blog:
On April 19, 2021, Canada released its 2021 budget. Budget provisions impacting employers include those that extend certain business support programs implemented in response to COVID-19; expand access to Employment Insurance (EI) benefits; amend the Canada Labour Code to improve job protections for gig economy workers, raise the minimum wage to $15/hour, and institute job protections for employees on leave; provide funding for job training; and promote diversity in corporate governance. The following briefly outlines these changes and proposals.
Supports for Businesses
Canada Emergency Wage Subsidy (CEWS)
CEWS will be extended until September 25, 2021. The subsidy rate will be gradually decreased commencing on July 4, 2021, to ensure an orderly phase-out of the program as vaccinations are completed and the economy reopens. ....

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Changing your tax planning as you transition into retirement

Dear Money Lady:
We heard one of your radio shows and you said people who made less than $75,000 in 2020 don’t have to pay any taxes in 2021. Can you explain this and let me know if there are any other tax benefits for seniors? What should I be talking to my accountant about?
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Thanks, George
George, you are partly correct.
If a Canadian had less than $75,000 in income in 2020 and also received either EI (employment insurance) or received one or more COVID benefits they do not have to pay any taxes owing until April 30, 2022, but will still have to file on time (April 30, 2021). This would include CERB, the Canadian Emergency Response Benefit, the Emergency Student Benefit, the Recovery Benefit, the Recovery Caregiving Benefit, and the Canada Recovery Sickness Benefit or EI, Employment Insurance in 2020. ....

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