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Canada

Law and regulation of Covid-19 tax relief in Canada

Table of contents
  1. Value Added Tax
  2. Corporate Income Tax
  3. Social Security Contributions or Payroll Tax
  4. Other relief measures
  5. Additional comments
Canada
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Information provided by the IBA Taxes Committee members.

Value Added Tax

  • N/A

Corporate Income Tax

  • Deferral of payments of any income tax amounts that become owing on or after March 18 and before September 2020.

Social Security Contributions or Payroll Tax

  • Temporary 10% wage subsidy, reducing the remittance of withheld income tax on employee remuneration.

Other relief measures

  • N/A

Additional comments

  • The Government proposes to make a one-time special payment by early May 2020 through the Goods and Services Tax credit (“GSTC”) to 12 million low-and modest-income families.