KLCA CHARTERED PROFESSIONAL ACCOUNTANTS

INTEREST AND PENALTY RELIEF FOR LATE FILED PERSONAL 2019 TAX RETURNS

The CRA’s May 22 release says: “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...

BUSINESS WAGE SUBSIDIES
The Canada Emergency Wage Subsidy is a federal benefit designed to help businesses cover up to 75% of wages and keep their employees on payroll.

The program includes organizations from bars and restaurants to charities, small businesses and large corporations.

Employees ...

CANADA EMERGENCY RESPONSE BENEFIT
The CERB pays a monthly $2,000 payment to workers who wouldn’t otherwise be eligible for EI.

That includes wage earners, contract workers, or self-employed individuals; those who’ve had to stay home without pay to self-isolate or care for loved ones; and anyone ...

YES WE ARE WORKING ON TAX FILINGS
We are considered an essential service and continue to prepare and file tax returns. Our office is closed to the public but we have a mailbox drop-bin at the entrance. Email fileshare@klca.com with your tax receipts or any questions.

CRA EXTENSIONS FOR 2019 PERSONAL TAX SEASON

CRA has introduced measures to postpone certain tax filings and payment deadlines. While these extensions may come as a relief during this stressful time, we recommend filing as early as possible if you are expecting a tax refund or would like the enha...

COVID-19 UPDATE:
Our priority is the health & safety of our clients and staff. To help prevent the spread of the virus, we are suspending in-person meetings and visits at our office starting immediately through April 1, 2020 at the earliest. We are also taking the following proactive steps:

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SHARE YOUR TAX RECEIPTS USING DROPBOX!

Dropbox is a great app that allows you to share your tax documents with us remotely.

Simply send us an email at fileshare@klca.com requesting this method of sharing and we will send you an invite.

Or you may do the following proactively:
✓ create a fre...

2019 TAX RETURN AND BALANCE OWING DEADLINE
April 30, 2020 is the final day you can file your 2019 income tax return. If you owe money to the government, it must be paid by this date. Canada Revenue Agency will start charging compound daily interest on May 1, 2020 if there are any unpaid amounts o...

2019 RRSP CONTRIBUTION DEADLINE make your 2019 RRSP contribution on or before March 2, 2020 and you may still claim a deduction on your 2019 tax return. Check your latest 2018 Notice of
Assessment for your 2019 RRSP contribution room.