Our partners at NBF Economics have launched a detailed, daily monitor of various indicators regarding the COVID-19 (Corona Virus). We encourage our clients to review these resources and stay informed. The NBF Economics monitor is date driven, country by country.
Important Tax Measures for Canadians
On March 18, 2020, the Government of Canada announced a variety of tax measures to help Canadians facing hardship as a result of the COVID-19 virus. The major tax changes affecting individuals and small businesses will include:
- Tax payment and filing deadlines extensions
- Temporary income support for workers and parents
- Special one-time payment of the GST Tax credit
- Increased Canada Child Benefit payments
- Student loans six-month interest-free moratorium
- RRIF minimums annual withdrawal is waived
We encourage our clients to contact us with any questions or concerns they may have.