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Employers — Meet upcoming COVID-19 subsidy obligations

Employers — Meet upcoming COVID-19 subsidy obligations

Employers who claimed or intend to claim COVID-19 assistance from the Canadian government may soon have to meet important deadlines

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​Employers who claimed or intend to claim COVID-19 assistance from the Canadian government may soon have to meet important deadlines. In particular, employers who are eligible for the Canada Emergency Wage Subsidy (CEWS) only have until January 31, 2021 to claim the subsidy or amend previous claims for certain periods. In addition, employers who are eligible for the 10% Temporary Wage Subsidy (TWS) should file their self-identification forms before March 1, 2021.

While eligible employers should ensure they meet any upcoming deadlines to receive government assistance that they are entitled to, they should also take care to correctly report these amounts on their tax returns as well as the new information required on their employees' 2020 T4 tax slips.

Download this edition of the TaxNewsFlash to learn more.

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