Monday, April 13, 2020 No finding the afikoman or Easter egg hunt for members of the federal Government this past weekend. On April 11, 2020, the federal Government passed the Canada Emergency Wage Subsidy (the “Subsidy”) into law. Please see our previous update here for background information. Here is what you need to know about the enacted […]
Amidst these unprecedented and uncertain times, the question that often arises is what should one do regarding their own taxes? It is during times like these that tax planning becomes so much more important and critical. In this article, we will discuss some common tax planning techniques that should be considered. For some historical context, […]
Tuesday, March 31, 2020 Commercial leases typically contain provisions that apply in times of crisis or unexpected closure of businesses. As a result of complications presented by the COVID-19 pandemic, landlords and tenants are looking to the wording of their leases to determine how to address these complications. While landlords and tenants are encouraged to […]
As the COVID-19 crisis unfolds, businesses are looking to insurers to bear the risk of unprecedented financial losses. In a previous Torkin Manes article, we canvassed some of the key factors clients are considering in deciding whether to present a claim for “Business Interruption” coverage. This type of coverage is typically triggered only when a […]
Friday, April 3, 2020 On March 30, 2020, Prime Minister Justin Trudeau announced the new Canada Emergency Wage Subsidy (the “Wage Subsidy”), which extended relief to almost all employers and increased the amount available to 75% of remuneration paid to an employee to a maximum of $847 per week. On April 1, 2020, Finance Minister […]
Monday, March 23, 2020 In light of the rapidly evolving circumstances concerning the COVID-19 outbreak, publicly traded corporations are considering alternatives to traditional in-person shareholder meetings to minimize the health risks to employees and shareholders, as well as to the general public. Potential solutions that balance a corporation’s legal obligations with its ethical obligations include: […]
Wednesday, March 25, 2020 The effects of COVID-19 have rippled throughout the world, placing immense strain on public health providers and businesses of all sizes. While developing a way to contain and control COVID-19 is of upmost importance, it is also necessary for individuals and businesses to understand their contractual rights and obligations during this […]
Wednesday, March 18, 2020 The Government of Canada is taking immediate, significant and decisive action to help all Canadians who are dealing with financial hardship as a result of the Covid-19 outbreak. On March 18, 2020, Prime Minister Trudeau announced a new set of economic measures to help stabilize the economy during these uncertain times. […]
B.C.’s COVID-19 Action Plan builds on the federal government’s COVID-19 economic plan and boosts supports for British Columbians who are worried about paying their bills and staying afloat. A new B.C. Emergency Benefit for Workers will provide a tax-free $1,000 payment to British Columbians whose ability to work has been affected by the outbreak. The […]
On March 25, 2020 the federal government passed Bill C-13, An Act Respecting Certain Measures in Response to COVID-19. The Bill includes the new Canada Emergency Response Benefit (CERB) which is in essence a combination of the previously announced Emergency Care Benefit and Emergency Support Benefit. The CERB provides for a taxable benefit of $2,000 […]
Tuesday, March 31, 2020 The novel coronavirus (COVID-19) pandemic has disrupted markets, business operations and supply chains worldwide. Its continuous spread presents an unprecedented challenge for boards of directors and senior management of publicly-traded corporations (“reporting issuers”). We highlight some areas to consider in managing business continuity and in meeting reporting issuers’ continuous disclosure obligations. […]
In a press release, which has remained altogether quiet, the Quebec’s occupational health and safety agency (CNESST) has announced it will offer employers relief measures, to help them face the COVID-19 crisis. Some of these involve a rather significant measure to help businesses with cash flow. In effect, employers now have until August 30, 2020 to settle […]
