CRA Shut Down: Communicate Proactively Before Long Weekend

Did you know that Canada Revenue Agency (CRA) will be undergoing a digital migration on the September long weekend, starting Friday August 29 at 8:00 p.m. and ending Tuesday at 6:00 am September 2, with the proviso that this possibly could last til September 3? What could go wrong? Plenty.

The province of Ontario postponed its formal multi-year budget forecast to November 15 yesterday, choosing instead to use the earlier-announced budget date of March 25 to table a COVID-19 fiscal action plan. The details are comprehensive, as is our round-up of provincial measures for businesses so far. There are some generous and genuinely interesting provisions. Take a look:

The Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions they’re required to remit to the CRA. It was introduced as part of the government’s pandemic support for businesses. It is already in effect, and we’re sharing the details on how this works.

This new online tax training program is the right one for unusual times in the tax and financial services. Not only does it address the myriad of changes on the 2019 tax return, it also provides an important professional program during an unprecedented health crisis. It is an important training solution for four specific needs:

During this time of uncertainty, more Canadians need to  feel financial peace of mind, and the guidance a qualified Real Wealth Manager™ can provide with a critically important strategy, process and success-oriented skillset. That’s why if you’re looking for continuing professional education, now is a great time earn the RWM™ credentials online. Until March 31 save an additional $50, too.

COVID-19 Response at Knowledge Bureau. We are committed to personal and community safety, so our educational and instructional team is at your side from their home-based offices. It is a good time to stay in touch, by email or phone. We would love to hear from you , even just to know you are okay... so please stay in touch.

Finance Minister Morneau announced a significant relief package of $27 billion today to help Canadians who will have immediate financial consequences from the global pandemic. In these surreal and unprecedented times, these measures will help pay rent, keep groceries on the table and assist with caregiving needs as the economy adjusts to a new normal. There is relief for both workers and businesses, including those people who do not have a safety net under the Employment Insurance Program. This special report provides all of the details.