The CRA offers a free liaison officer service to small business owners and the self-employed to help them understand their business tax and GST / HST obligations. A free virtual tour with a liaison officer is 100% confidential. Information you choose to discuss with a Liaison Officer will not be shared with other areas of the CRA or with anyone else. These personalized sessions exist to provide support and guidance, and help relieve the stress of filing during an already chaotic year.
Canada Emergency wage subsidy (SSUC)
To alleviate the pressure on businesses affected by COVID-19, the ARC continues to administer the SSUC on behalf of the Government of Canada to avoid job losses and assist in the transition to regular business operations. If you experienced a drop in income during the COVID-19 pandemic, you may be eligible for the SSUC. The government of Canada last extended this program to 23 octoberrd, 2021.
Canada Recovery Hiring Program (CRHP)
In addition to the SSUC, the ARC also administers the RCPH. This program is designed to encourage businesses to hire and grow as the economy recovers. As a business, you may be eligible for both SSUC and CRHP. Although you can apply for different grants for each application period, you can only apply for one grant per application period. If you find that your business qualifies for both grants, apply for the grant that offers the higher amount.
Find out how Lisa Belmore, an ARC product manager, helped develop the SSUC and CRHP calculators.
Electronic filing for companies
Start January 1stst, 2022, companies filing more than five tax slips will be required to file electronically. Electronic filing is faster and more convenient for businesses of all sizes, with fewer errors involved. The CRA’s My Business Account service allows businesses to file electronically with instructions. This change benefits Canadian businesses of all sizes by simplifying the filing process. It also gets feedback and benefits for those who need it, faster.
Scientific Research and Experimental Development (SR&ED) Program
The SR&ED program is the most important Canada support program for research and development in Canada, offering more than $ 3 billion in tax incentives through more than 20,000 complaints per year. Small and medium-sized businesses file the majority of all SR&ED claims, making the program an important source of financial support for these businesses in the post-COVID-19 economic recovery. Find out how SR&ED tax incentives help businesses grow and meet their goals Scientist, Research and Experimental Development – Success Stories.
In line with the CRA’s continued transformation towards a service culture, the SR&ED program has launched a series of initiatives focused on the needs of Canadian businesses. The latest transformation of SR&ED from Guidelines on Work Eligibility for SR&ED Tax Incentives make it easier for businesses to assess whether their work qualifies for SR&ED tax incentives upfront, before filing a claim.
Dedicated to putting people first
The CRA is committed to serving Canadians and Canadian small businesses. The Agency listens to small business owners and the stakeholders who support them to determine what it needs to do to facilitate the reporting and payment of taxes and the payment of benefits. Our goal is to be trustworthy, fair and useful by put people first.
Stay connected
SOURCE Canada Revenue Agency
For further information: Contacts: Media Relations, Canada Revenue Agency, 613-948-8366, [email protected]
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