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Application Deadlines For CEWS and CERS Quickly Approaching!

Posted on by Graham Scott Enns  |  Posted in Community, News

Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) Application Deadlines

The CEWS and CERS application deadlines are quickly approaching. The deadline for all CEWS and CERS applications is the later of January 31, 2021 and 180 days after the end of the claim period.

For CEWS applications, this means that applications for claim periods 1, 2, 3, 4 and 5 will be due no later than January 31, 2021.  For CEWS claim period 6, which would cover the 4-week claim period from August 2 to August 29, 2020, the deadline to apply would be February 25, 2021 (180 days after the end of the claim period).

For CERS applications, this means that applications for claim period 1 (September 27 to October 24, 2020) is due no later than April 22, 2021 (180 days after the end of the claim period).

If you believe your business qualifies for either the CEWS and/or the CERS and have not yet applied for some or all of the earlier claim periods, please contact our office to ensure your application is filed by the application deadline.

Season’s Greetings!

Posted on by Graham Scott Enns  |  Posted in Community

From all of us at Graham Scott Enns, we want to wish you and yours a safe and happy holiday!

Although 2020 has been a challenge for all of us, may this holiday season bring you connection

with the ones you love and hope for what’s to come in the new year. Now more than ever, we

hope the spirit of the holidays helps you find joy in the things that matter most.

Sending our warmest wishes for a safe and healthy Happy New Year!

 

Manger Spotlight! Tina Neverly

Posted on by Graham Scott Enns  |  Posted in Community, Graham Scott Enns

Photo of Tina Nevrly

Starting out in our Aylmer office in January 2012 and transferring to the St. Thomas branch in July 2017 to become a part of the Tax Group, Tina is on a level all her own. When asked about working with the GSE family she says,

 

             “The partners at GSE are very kind and compassionate. Everyone cares for their clients, staff, and community.

After spending many years at a national firm, I am very happy with the decision to join GSE and look forward to furthering my career here.”

 

As one of our management team, Tina provides tax services, compliance services and is part of the team that develops and supports our staff in many unique ways.  We are so lucky to have her here!

 

Manger Spotlight! Courtney Vachon

Posted on by Graham Scott Enns  |  Posted in Community, Graham Scott Enns

Photo of Courtney Vachon

Courtney has been with GSE since March 2016.  In her time with us she worked on many different types of engagements and provided support to many of our clients.

In her own words, working for GSE,

“Has been amazing. I feel proud to be part of the team at GSE and provide our clients with excellent service.”

Courtney has a fierce dedication to her clients and consistently strives for new heights while inspiring the multiple staff members she mentors.

We are so happy to have Courtney as part of the team here at GSE and we look forward to her being part of the team for many years to come!

 

COVID-19 Government Programs Update – Nov 2020

Posted on by Graham Scott Enns  |  Posted in Community, News

Many of the original Covid-19 government benefit programs have changed over the past few months to allow for easier access for many businesses.  As we continue to weather the pandemic together in our community, it is important to keep abreast of these changes and to ensure businesses can access these programs fully.

For our valued community we have put together a summary page outlining a few of the key COVID-19 Government Benefit Programs including some related forms and deadlines to help with that goal.

Should you have specific questions on any of the programs, or need assistance in completing any forms or applications, please do not hesitate to contact our office.

Government Benefit Programs November Update

Self-Identification form for the 10% Wage Subsidy

Posted on by Graham Scott Enns  |  Posted in Community, News

The 10% Temporary Wage Subsidy is a program introduced by the federal government to provide financial support to business during the COVID-19 pandemic. It allows employers to reduce the income tax portion of their payroll remittances by 10% of the gross wages paid to employees. The subsidy is limited to $1,375 per employee and $25,000 per employer. The program covers remuneration paid to employees from March 18, 2020 to June 19, 2020.

A new form has been released called Form PD27, 10% Temporary Wage Subsidy Self-Identification Form for Employers. Employers that have applied for this program or the Canada Emergency Wage Subsidy program are required to complete this form so that the CRA can reconcile their payroll remittances. There are two ways to complete this form:

  1. Complete the form on My Business Account online
  2. Complete the PDF and submit via
    1. My Business Account
    2. Mail or fax to any National Verification and Collections Centre
      1. The closest centre for most Ontario residents is:
        Shawinigan NVCC
        4695 Shawinigan-Sud Boulevard
        Shawinigan-Sud QC  G9P 5H9

For more information on completing the Form PD27, please visit https://www.canada.ca/en/revenue-agency/services/subsidy/temporary-wage-subsidy/tws-reporting.html.

Canada Emergency Business Account

Posted on by Graham Scott Enns  |  Posted in Community, News

Applications are opening soon for small businesses to ensure they have what they need to cover their operational costs under the current circumstances as the province begins to reopen. Small businesses and not-for-profits can apply trough the Canada Emergency Business Account (CEBA) for an interest free loan up to $40,000 to assist with operating costs while in periods of decreased revenue as a direct result of the COVID-19 pandemic.

To qualify for CEBA the small business or not-for-profit must meet the following criteria:

  • Be a tax registered Canadian operating business in operations as of March 1, 2020
  • Total employment income paid in 2019 is between $20,000 and $1,500,000
  • The borrower has an active business account with Lender of the loan, who is also their primary financial institution

To apply, small businesses and not-for-profits should contact their financial institutions directly, and can take a look at the website below for a list of participating financial institutions in the CEBA program.

The CEBA funds can be used on:

  • Any operating expenses that cannot be deferred, this includes but it not limited to, payroll, rent, utilities, debt payments and property taxes.
  • However, they cannot use the debt for refinancing of current debt, payment of dividends or for increase in management compensation

Please see the CEBA Website for more information: https://ceba-cuec.ca/

Update to the CRA Tax Filing Deadline

Posted on by Graham Scott Enns  |  Posted in Community, News, Tax

The CRA has provided some additional guidance regarding the personal tax filing deadline.

As previously announced, individuals who previously had a personal income tax filing deadline of April 30, 2020 has had their deadline extended until June 1, 2020. Penalties and interest will not be charged if payments are made by the extended deadline of September 1, 2020.

It is important to note that if you or your spouse are self-employed, you still have until June 15, 2020 to file your taxes. In both of these situations your payment deadline has been extended to September 1, 2020.

This payment extension also applies to installments typically due June 15, 2020, and no interest or penalties will be charged for this payment if it is made before the extended deadline of September 1, 2020.

It is still recommended that individuals file their personal tax return even though there will be no interest or penalties for late filing as it could impact your credit payments including the GST credit. You will still continue to receive payments based off of your 2018 return, but to ensure that you will receive the right amounts it is important to file by the deadline. This also applies if you are entitled to a refund, filing on time will ensure that you get your refund as soon as possible.

 

For more information please see the CRA website for updated information and additional news: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2020/filing-2019-taxes-covid19-crisis.html?utm_source=mediaroom&utm_medium=eml

Emergency Community Support Fund

Posted on , Updated: by Graham Scott Enns  |  Posted in Community, News

As part of their response to the COVID-19 the United Way Elgin Middlesex is working to help charities continue to support vulnerable individuals in their community. They will be accepting applications for the Emergency Community Support Fund which has been provided by the federal government for distribution.

If you are a charity providing services to meet immediate community needs related to COVID-19 you can apply for this funding. This funding is designed to support front line social services that provide support for vulnerable Canadians including: low-income seniors, women, children and youth, persons with disabilities, members of the LGBTQ2S+ community, newcomers, Indigenous peoples, members of racialized communities.

Please visit the United Way Elgin Middlesex website for more information on if you qualify and how to apply. http://unitedwayem.ca/covid-19/ecsf/

Applications will be accepted until June 12, 2020

Regional Relief and Recovery Fund Program

Posted on by Graham Scott Enns  |  Posted in Community, News

In a response to help small and medium-sized businesses impacted by COVD-19 who have been unable to access federal relief programs, FedDev Ontario and Community Futures Ontario has announced the New Regional Relief & Recovery Fund.

To specifically help the communities in Elgin county, the Elgin Business Resource Centre will be providing qualifying businesses with loans up to $40,000.

Specified businesses include businesses such as retail shops, restaurants and other businesses of strategic importance to the community.

Other criteria include:

  • being established prior to March 1, 2020
  • impacted adversely by the COVID-19 pandemic
  • viability and not experiencing other financial difficulties prior to March 1, 2020
  • have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.

Please see the Elgin Business Resource Centre (https://www.elginbusinessresourcecentre.com/regional-relief-and-recovery-fund/) or FedDev Ontario (https://www.feddevontario.gc.ca/eic/site/723.nsf/eng/h_02581.html?OpenDocument) for more information.