Publication
International Restructuring Newswire
Welcome to the Q2 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
Canada | Publication | March 26, 2020 - 7 PM ET
Based on the government announcements:
Workers
Workers must be at least 15 years of age, a resident in Canada and, for 2019 or in the 12-month period preceding their application, have a total income of at least $5,000 (or any other amount determined by regulation) from:
Eligibility
To be eligible, workers must:
1. Have involuntarily ceased to carry on their employment for reasons related to COVID-19 for at least 14 consecutive days including in the period of four weeks for which they are applying for CERB; and
2. Not receive, during that period:
CERB application
The application procedure, including its formalities, will be determined by regulation. The application may cover any period of four weeks included between March 15, 2020, and October 3, 2020. No CERB application may be submitted after December 2, 2020.
Amounts and duration of CERB
The amount of CERB to which the eligible worker is entitled for one given week will be determined by regulation, as it is not specified in the Act. Furthermore, the regulation could treat various categories of workers differently. In all cases, the CERB may be paid only up to 16 weeks or for the number of weeks to be determined by regulation.
Record of employment
The employer must produce a record of employment each time there is an interruption of earnings for one of its employees. Such an interruption of earnings occurs when employees:
Publication
Welcome to the Q2 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
Publication
The Canadian Federal Budget 2024 proposes to broaden the scope of certain powers allowing CRA to request information from taxpayers, and sets out new consequences for non-compliant taxpayers.
Publication
The alternative minimum tax is an additional income tax imposed under the Income Tax Act on individuals and certain trusts who would otherwise be able to reduce their ordinary Canadian federal income tax through the use of certain deductions, exemptions or credits.
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