On Thursday, October 22nd, Deputy Prime Minister and Finance Minister Chrystia Freeland announced the "final pivot in delivering the support needed to deliver a robust recovery." This "Final Pivot" means several existing pandemic support programs for individuals and businesses will expire on October 23rd, 2021:
- Canada Recovery Benefit (CRB)
- Canada Emergency Rent Subsidy (CERS)
- Canada Emergency Wage Subsidy (CEWS)
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On April 19, 2021, the Federal Government released their 2021 budget. Our article contains highlights of the various financial measures in this budget, divided into three different sections:
• Business Highlights, including an extension to COVID-19 Emergency Business Supports, new programs to support job creation, and a change in interest deductibility limits.
• Individual Highlights, including details on the tax treatment and repayment of personal COVID-19 benefits (such as CERB), eligibility changes to the Disability Tax Credit, an increase in OAS for those 75 and up, and support for job skills retraining.
• Additional Highlights, including a proposed federal minimum wage of $15, changes to the GST New Housing Rebate conditions, and new or increased taxes in areas such as luxury goods, tobacco, and Canadian housing owned by non-resident foreign owners.
Great news for some ineligible self-employed Canadians who received the Canada Emergency Response Benefit (CERB)
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CRESTSTONE Wealth2021-10-22 14:19:082021-10-22 22:12:06“Final Pivot” – COVID-19 Emergency Benefits expire October 23rd, replaced by targeted supports
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CRESTSTONE Wealth2021-04-22 10:37:312021-04-22 19:03:20Federal Budget 2021 Highlights
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CRESTSTONE Wealth2021-02-12 16:28:222021-02-13 02:06:20Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients
