COVID-19 Response Plan - Alberta Government - Support for Canadians

COVID-19 Response Plan - Alberta Government - Support for Canadians

Synopsis
7 Minute Read

COVID-19 Response Plan
Alberta Government – Support for Canadians
Last updated July 21, 2021, 4:00 pm MST

Insight
Insight

AB Support for Business

Alberta Job Now Program

Eligibility

  • Employers can apply for a grant to offset salary or training costs, or both, equal to:
    • 25% of a new hire’s salary up to $25,000 per employee
    • 5% of a new hire’s salary up to $37,500 per employee with a disability
  • Employers can apply for up to 20 full-time new hires per intake period
    • 1st intake: May 20, 2021 to August 31, 2021
    • 2nd intake: September 15, 2021 to December 31, 2021
    • 3rd intake: TBA
  • Employers can choose to have payments issued in 1 or 2 payments

Benefit

  • Due dates for filing corporate income tax returns due after March 18, 2020 and before June 1, 2020 have been extended to June 1, 2020.
  • Amounts due between March 18, 2020 and August 31, 2020 are deferred until August 31, 2020.

Action Needed

Application portal is available; information on process can be found here


Small and Medium Enterprise Relaunch Grant

Eligibility

  • Alberta businesses, cooperatives and non-profits that were ordered to close or curtail operations, and that experienced a revenue reduction of at least 30%, as a result of COVID-19, may be eligible

Benefit

  • Due dates for filing corporate income tax returns due after March 18, 2020 and before June 1, 2020 have been extended to June 1, 2020.
  • Amounts due between March 18, 2020 and August 31, 2020 are deferred until August 31, 2020.

Action Needed

  • For information on the application process, see here
  • Application is through online portal

Alberta Innovation Employment Grant (IEG)

Eligibility

  • Corporations with a permanent establishment in Alberta at any time during the taxation year
  • Corporations with taxable capital (for federal tax purposes) over $50 million, partnerships, trusts and individuals are not eligible to claim the grant

Benefit

  • The refundable tax credit offers an 8% recovery on eligible expenditures related to scientific research and experimental development activities carried out in Alberta
  • Corporations can claim an additional 12% credit in excess of the base amount
     

Action Needed

  • Tax credit covers eligible expenditures incurred after December 31, 2020
  • IEG tax form is prepared on a project-by-project basis and filed with the corporation’s income tax return
  • Details available here

Authorizations (E-Signature)

Eligibility

  • Applicable to Alberta Form AT4930

Benefit

  • Electronic signatures now allowed

Action Needed

  • No action required

Education Property Tax Deferral (closed)

Eligibility

  • Non-residential property owners

Benefit

  • Six-month deferral of non-residential education property tax or a combined municipal and education property tax deferral effectively equivalent to a six-month deferral of education property tax

Action Needed


Workers’ Compensation Board (WCB) Premium Relief (closed)

Eligibility

  • All private sector employers are eligible 2020

Benefit

  • WCB premiums deferred to 2021
  • When invoicing resumes, 50% of 2020 premiums will be waived for small- and medium-sized private sector employers

Action Needed


Tourism Levy Abatement Extension

Eligibility

  • Temporary accommodation providers

Benefit

  • For tourism levy amounts collected between April 1, 2022 and June 31, 2021
  • Deferred remittances not subject to penalties or interest

Action Needed

  • Hotels and other lodging providers still must file returns, as required by legislation, and must continue to collect tourism levy from property guests
  • More details available:

AB Support for Individuals

Emergency Isolation Support (closed)

Eligibility

  • Albertans who were required to isolate or had to care for a dependent who was isolating

Benefit

  • Benefit was a one-time payment; program now closed

Action Needed

  • No action required; program only intended to bridge gap until the Federal Government announced Canada Emergency Response Benefit (CERB)

Utility Payment Deferral (closed)

Eligibility

  • Albertans experiencing financial hardship and unable to make regular payments as a result of COVID-19
  • Applies to bills for residential, farm and small commercial:
    • Electricity consumers, who consume less than 250,000 kilowatt hours of electricity per year
    • Natural gas consumers, who consume less than 2,500 gigajoules per year

Benefit

  • Deferral of electricity and natural gas bill until June 19, 2020 without late fees or added interest payments

Action Needed

  • Contact natural gas or electricity provider directly to arrange for deferral and repayment plan
  • More details available:

Education Property Tax Freeze

  • Applicable to Alberta homeowners

Benefit

  • Residential education property tax rates frozen at 2019 level – reversing the 3.4% increase added in Budget 2020

Action Needed

  • No action required

Federal Support Support for Canadians

  • For our summary of the Federal support programs for businesses and individuals, please visit HERE

Insights

  • Stack of brand new tractor tires

    July 30, 2021

    New tax incentive on equipment purchase provides immediate benefit

    Federal Budget 2021 provides an upfront tax incentive for Canadian-controlled private corporations (CCPC) to undertake significant capital asset puchases. It does so by allowing for the immediate deduction of up to $1.5 million of certain depreciable property purchased from arm’s-length parties between April 19, 2021, and January 1, 2024.

  • Confidence
    Holding a portfolio on one hand, comparing data on another

    July 28, 2021

    How to optimize value from an Internal Audit co-sourcing partnership

    Co-sourcing your internal audit function can help you navigate several contemporary challenges — including the need for greater agility and subject matter expertise, as well as cost and resourcing pressures. Here we investigate practical steps to find the right vendor and make this relationship as seamless, targeted, and cost effective as possible.

  • Progress
    person reviewing graphs on their phone

    July 26, 2021

    Automating finance, so you can focus on your business

    Cloud accounting and bookkeeping solutions allow you to focus on the critical parts of your business instead of shuffling through paperwork every week.