Still haven't filed your 2019 taxes? Something to take note of...
"On May 15, 2020, the CRA has extended benefit payments until the end of September for those who are unable to file their 2019 tax return on time. For individuals who already receive the Canada child benefit, the GST/HST credit, or both, their estimated payments will be based on the information from their 2018 tax return."
The application portal for the Canada Emergency Commercial Rent Assistance for small businesses (CECRA) is now open.
We expect a large volume of applications. To manage this volume and allow us to serve you better, we ask property owners to register on the following days.
Once registered, the portal will be available 24/7 for applicants to input data and upload documents.
Who should register?
Property owners who are located in Atlantic Canada, BC, Alberta and Quebec, with up to 10 tenants who are eligible for the program
Property owners who are located in Manitoba, Saskatchewan, Ontario and the Territories, with up to 10 tenants who are eligible for the program
All other property owners in Manitoba, Saskatchewan, Ontario and the Territories
All other property owners in Atlantic Canada, BC, Alberta and Quebec
CMHC has engaged MCAP and First Canadian Title (FCT) to deliver CECRA for small businesses. You may be contacted by either MCAP or FCT throughout the applicant validation and funding processes. Representatives will be available to answer questions specific to your application.
CRA just clarified the late penalty. June 1st is another 'soft' deadline.
"Penalties and interest will not be charged if payments are made by the extended deadlines of September 1, 2020. This includes the late-filing penalty as long as the return is filed by September 1, 2020."