Canada: Upcoming deadlines for complying with subsidy obligations (COVID-19)
Canada: Upcoming deadlines, subsidy obligations
Employers who claimed or intend to claim coronavirus (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 31 January 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) must file their self-identification forms before 1 March 2021.
While eligible employers must provide that they meet any upcoming deadlines to receive government assistance that they are entitled to, they must 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.
Read a January 2021 report prepared by the KPMG member firm in Canada
© 2022 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.