Canadian tax news and COVID-19 updates

CRA announces they will accept certain late-filed CEWS and CERS applications

On April 21, 2022, the CRA added questions 26-01 and 26-02 on their CEWS FAQ page. The CRA has guided on the circumstances where it will accept late-filed amended or original CEWS applications.

2020 Tax Changes Individuals and Families

Amounts Received Related to COVID-19

During the year, you may have received federal, provincial, or territorial government COVID-19 payments such as the Canada Emergency Response Benefit (CERB). These amounts are generally taxable and you will receive a slip, such as a T4A or T4E.

Interest Relief on 2020 Income Taxes Owing if you Received COVID-19 Benefits

2019 Tax Changes Individuals and Families

Change of Use Rules for Multi-Unit Residential Properties

Currently when a property, or part of property, is converted from an income producing property to some other purpose a deemed disposition occurs. Historically, when the entire property was converted into another use is now available for changes in use of parts of the property.