Shaw & Associates and a Covid-19 Crisis Update
March 31st, 2020
Posted in: Business Advisory
The offices of Shaw & Associates are still open and working on your accounting and taxes, but we are not meeting with clients at this point. If you need to drop off information, please phone us when you arrive and we will take the information from you at the door. We are also open on Saturdays for you to drop off information.
Our Fort Macleod office will not be seeing clients in person either, but we will be open for you to drop off information on Wednesdays there as well.
Government Response for Business and Individuals
There are a number of financial relief options available to employees and businesses.
Here are some links to information on the federal government response:
COVID-19 Economic Response Plan – Legislative Update as of March 25, 2020 - https://www.videotax.com/march-25-update-covid_19
The Canadian Federation of Independent Businesses (CFIB) is also an excellent source of information for benefits available - https://www.cfib-fcei.ca/en/small-business-resources-dealing-covid-19
Straight from the horse’s mouth – the Government of Canada page for resources available - https://www.canada.ca/en/department-finance/economic-response-plan.html
Alberta Government COVID-19 webpage - https://www.alberta.ca/coronavirus-info-for-albertans.aspx
Some of the highlights of what is available to Canadians to help them in this crisis:
- Employment Insurance enhanced benefits for people who can’t work due to sickness, quarantine, or their employer being closed.
- Benefits for people who can’t work due to caring for a family member who is sick or quarantined.
- Benefits for parents who can’t work because they need to look after children who are at home due to school closures.
- Benefits for self-employed people.
- Interest-free loans for businesses.
- Income tax returns and payments deferred to later in the year.
- GST payments deferred to later in the year.
- Increased Goods and Services Tax Credit (GSTC).
- Extra benefit for families receiving monthly Canada Child Benefit (CCB). Families who don’t qualify for the CCB may also receive a payment.
- Registered Retirement Income Fund (RRIF) minimum withdrawal reduced by 25%.
- Temporary wage subsidy for to help employers pay their employees.
From our owner, Shelly Shaw: “This is a tough time for everyone and we all need to do our part to stay positive and support each other. Please do your best to support small, locally-owned businesses.
Stay safe and healthy.”
Contact Shaw & Associates Chartered Accountants for accounting help you can count on. One complimentary meeting with us will put you and your business on a more profitable and positive path.