On Friday, February 19, 2021, Prime Minister Justin Trudeau announced an extension to:
– Canada Recovery Benefit
– Canada Recovery Caregiving Benefit
– Canada Recovery Sickness Benefit
– Employment Insurance
To help our clients, we’ve put together a comprehensive article filled with great tips on how to get ready for 2020 tax season. Here’s a summary of our personal tax tips article:
• Details about the different COVID-19 benefits programs and the tax ramifications of them
• Information about family tax issues including the Canada Child Benefits and tips on how to split income.
• Managing investments. Details about contributing to various savings plans such as a TFSA, RESP, or RDSP. Also tips on how and when to donate to charity and how to time the purchase or sale of investments.
• Retirement planning. How to make the most of your RRSP, things to know if you’ve turned 71, and tips on RRIF conversion.
On August 20th, the Federal Government announced the extension of the Canada Emergency Response Benefit (CERB) by one month and the transition to the Canada Recovery Benefit, Canada Recovery Sickness Benefit, Canada Recovery Caregiving Benefit and a simplified EI.
The intention for our “Guide to Covid-19: Government Relief Programs in Canada” is to help businesses and individuals to cut through the noise and make sure they’re getting all the help they can receive from the federal and provincial programs.
On May 1st, the BC Government will start taking applications online for the BC Emergency Benefit for Workers. Telephone applications will start on May 4th but it is strongly recommended that you apply online as they anticipate high call volumes. This benefit provides a one time payment of $1,000 to residents of BC whose ability to work has been affected due to COVID-19.
HollisWealth ® is a trade name of Investia Financial Services Inc. and Hollis Insurance. Mutual Fund products provided by HollisWealth are provided through Investia Financial Services Inc. Insurance products provided by HollisWealth are provided through Hollis Insurance. Ability Private Client Group is an independent company unrelated to HollisWealth and Investia Financial Services Inc. Investia Financial Services Inc. companies have no liability for Ability Private Client Group.
