In April, the federal government announced four major programs to assist Canadians during the COVID-19 pandemic. In the rush to get these programs out as soon as possible to Canadians, few explanations and details on the qualifications to be entitled to payments under these programs were released. Further, the CRA has stated that the major review of eligibility for claims will occur after the payments have been made by the government.
Subsequently in late April and May, the CRA provided many clarifications to the qualifications and tests that must be applied to determine whether an entity or individual was entitled to the payment. Despite the majority of applications under these programs being made and paid out before the CRA has provided its clarifications, the CRA continues to state that penalties will be levied against those claiming payments they were not entitled to receive. Aside from having to repay the benefit received, claimants can be charged with a penalty ranging from 25% to 50% of the benefit received.
In this session we will go through a review of the important qualifications and requirements under the programs, and discuss the major misconceptions and mistakes being made by claimants in applying, or not applying, for the benefits. We will also discuss how to remedy those mistakes and either repay the payments claimed or apply to receive the payments not claimed.
Duration: 1 hour
Presenter: James Rhodes, Principal Lawyer, Taxation Lawyers
June 11, 2020
10 a.m. PT | 1 p.m. ET