COVID-19: Implications for Your Business

Jerry Cukier
Article
| 3/18/2020

To our valued clients, colleagues and friends:

The developments on the COVID-19 pandemic have been numerous and have come at us rapidly since we first wrote to you on March 10. Our early preparations for remote work have served us well; since March 16, our entire team has been working from home. We are all continuing to work with our clients while appropriately employing social distancing in order to do our part to limit the spread of the virus in our community. 

Tax Update

Many of you have questions about the preparation and filing of your personal taxes, notwithstanding the extension of the filing deadline to June 1st. Our tax team is fully operational – it’s full steam ahead. The best way to get your materials to us is by way of our secure portal, and you can contact your advisor at any time to obtain assistance in accessing the portal. Paper slips and tax materials can still be received at our office at 2 St. Clair Avenue East, Suite 1100 as long as there is no prohibition to enter our building. If this changes, we will contact you.

As a result of the coronavirus outbreak, the Federal government has extended the 2019 deadline for tax filings and/or payment of any balance owing. These deadlines may be further modified by the Federal government should the impact of COVID-19 change. We are also monitoring and preparing for updates to reporting requirements needed to take advance of announced relief programs.

Personal Income Tax Returns

  • Filing deadline: June 1, 2020
  • Payment of taxes (if owing): August 31, 2020

Corporate Income Tax Returns

  • Payment of taxes (if owing): August 31, 2020

Remittances

  • As of March 18, there has been no announcement on any extension of remittance deadlines for source deductions and/or GST-HST. 

We know that you are concerned about both your family and your business at this time. As always, we are here to advise, to assist and to support you.

Human Resources Update

Please be reminded that in addition to being your financial and tax partners, we also have a Human Resources Consulting Group. If you are a small business feeling the strain of the virus and concerned about transitioning to remote work or temporarily laying-off employees, our Partner Susan Hodkinson and her team of HR experts are available to help you in navigating any issues you might have surrounding managing or communicating with your staff. Susan can be contacted at susan.hodkinson@crowesoberman.com.

Crowe Soberman's COVID-19 Resource Hub

We have created a COVID-19 informational hub where we will house any relevant client tools, updates and guidelines as they become available. Visit it today to learn more about many of the above mentioned measures.

Our firm has been in existence for over 60 years and through this time we have worked with you through times of growth and contraction, beginnings and endings, and great joy and great sorrow. Together we have grown stronger every year, and this won’t change. We are all in this together, and we will all be fine. Take this time to draw your loved ones closer and we look forward to seeing you all in person very soon.


Jerry Cukier, 
Managing Partner

Contact Us

Jerry Cukier
Jerry Cukier
Managing Partner, Audit & Advisory
Jerry Cukier Professional Corporation
Susan Hodkinson
Susan Hodkinson
Chief Operating Officer & Partner, HR Consulting Practice