Tax Measures Under Canada’s COVID-19 Economic Response Plan

  • Senior’s Home Safety Tax Credit: Proposes a new refundable personal income tax credit for seniors who make improvements that make their homes safer and more accessible, starting in 2021. The tax credit will be 25% on up to $10,000 in eligible expenses for a senior’s principal residence in Ontario. The $10,000 limit will be shared by people who share a home.
  • Support for Learners: Provide for another one-time payment to Ontario families of $200 per child aged 12 and under.

Prince Edward Island Tax Measures

The Government of Prince Edward Island (“PEI”) announced the following measures:

Measures for businesses

  • Registered private sector businesses or non-profit organizations where employees’ hours have been reduced at least 8 hours per week during the period from March 16, 2020, to March 29, 2020, are eligible for the Emergency Relief – Worker Assistance Program[140]. The program provides up to $250 per week for each employee. Online application can be submitted until April 15, 2020. Workers who have been laid off are not eligible.
  • Property tax relief measures include:
    • Deferring provincial property tax and fee payments until December 31, 2020;
    • Extending property assessment appeal deadlines for assessment year 2020 to December 31, 2020;
    • Providing interest relief for tax year 2020, including all past due amounts;
    • Suspending tax sale processes for the remainder of 2020; and
    • Delaying mailing of provincial tax bills for 2020 until June.

Measures for individuals

  • An Emergency Income Relief Fund provides up to $500 per week for the period from March 16, 2020, to March 29, 2020, to self-employed individuals affected by COVID-19. Eligible criteria require that the self-employed individual:
    • declared business income on their most recent tax return;
    • earn business income as the primary source of income;
    • can demonstrate direct financial losses from COVID -19 isolation measures at the time of application; and
    • is not eligible for EI or other income support.

    [141]

  • Property tax relief measures include:
    • Deferring provincial property tax and fee payments until December 31, 2020;
    • Extending property assessment appeal deadlines for assessment year 2020 to December 31, 2020;
    • Providing interest relief for tax year 2020, including all past due amounts;
    • Suspending tax sale processes for the remainder of 2020; and
    • Delaying mailing of provincial tax bills for 2020 until June.
  • Essential workers[142] earning less than $3,000 per month are eligible for a one-time payment of $1,000 to be administered by their employer. This payment is intended to provide a temporary wage supplement to essential workers during the COVID-19 pandemic.

Quebec Tax Measures

The Government of Quebec announced its own relief measures in response to the COVID-19 pandemic: Bulletins 2020-3[143], 2020-4[144], and 2020-5[145], a March 18th Press Release[146], a March 19th Press Release[147], a March 27th Press Release[148], an April 9thPress Release[149], a May 29thInformation[150] Bulletin (“May 29 IB”), a June 10thPress Release[151] (“June 10 PR”) and a June 29, 2020, Information Bulletin[152] (“June 29 IB”).

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58

Share