Law and regulation of Covid-19 tax relief in Canada
24 Mar 2020
International
1 min read Comparable
jurisdiction
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.
