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Newsletter – Financial Relief For Canadians

This newsletter has been prepared to provide an overview of the tax measures and assistance available to businesses and families in the midst of the Covid-19 pandemic.

A copy of this newsletter can be downloaded here.

It is a concise summary of the measures announced up to and included Wednesday April 9, 2020.

Discussed in the newsletter:

Filing deadline and payment due dates (see the table on Page 12)

Individuals

Staring on page 6:

  • The special one-time GST/HST credit payments,
  • Payment and filing deadlines for income taxes,
  • The Canada Emergency Response benefit (CERB) and EI,
  • Mortgage & debt support,
  • Emergency loans for Canadians abroad, and
  • Student loan relief measures.

Also see the table on page 10 and 11 for a summary of benefits.

Businesses

  • The 10% Temporary Wage Subsidy (TWS)
  • The 75% Canada Emergency Wage Subsidy (75% WS or CEWS)
  • EI Work sharing program,
  • Government backed interest free loans, and
  • Tax payments and deferrals of payments.

Also see the table on page 10 for a summary of benefits.

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Dean Paley

A graduate of Simon Fraser University, Dean started and operated an independent painting company while perusing a degree at SFU. After graduating from Simon Fraser, Dean entered the Certified General Accountants Program of Professional studies where he obtained the professional CGA designation. After a number of successful years as the head of finance for the Canadian operations in a global financial services firm, Dean moved into a marketing role and established and launched a tax, estate and financial planning support department and service to advisors and clients. During this time Dean successfully obtained the Certified Financial Planner (CFP) designation. Dean has been a member of the Canadian Forces Reserve spanning three decades serving in the Royal Westminster Regiment (B.C.), the Military Police and later as a commissioned officer in the Cadet Instructors Cadre in Hamilton Ontario. Dean Paley CGA CFP has been interviewed and quoted in major media such as the National Post, Financial Post, Toronto Star, Canadian Business, Money Sense and Investment Executive. Dean is married to his lovely wife Deborah and has four lovely children.