CRA Answers Your Questions on New Targeted Support Measures
JOIN A Q&A SESSION WITH THE CANADA REVENUE AGENCY
In December, the Tourism and Hospitality Recovery Program and the Hardest-Hit Business Recovery Program (Bill C-2) received Royal Assent. These new measures will ensure that the hardest-hit sectors and those who are most affected by the pandemic will continue to receive the support they need.
As implementation rolls out, the Hotel Association of Canada has organized a virtual briefing and Q&A session for members with the Canada Revenue Agency to answer your specific questions on these new support measures.
Please also note that the session will use a software called Slido to collect questions in advance. Once registered, you will receive a link to Slido to be able to post questions. You will also be able to ‘upvote’ questions, and those that receive the most votes are most likely to be addressed on the call. We will submit the following questions that we have received so far on behalf of our members. The CRA will answer those questions that receive the most engagement, so please upvote these questions in Slido to ensure that they are given priority on the call.
- For a seasonal business with incidental revenue for 6 months of the year that does not vary from the reference period can these periods be excluded from the average? i.e. we are down 50% for the year but only 35% if we use the avg of 12 individual months.
- If a business has been acquired throughout the past two years, will the reference period become null and be treated as a ‘new’ business, or will the previous books of the business before being acquired be used?
- My accountant is concerned that we won’t be included in the THRP because “rentals” is not listed as an eligible activity. I believe I am a tourism business and I have qualified for a number of other subsidized programs. How do I find out if my business is eligible?
- Can the government confirm that in order to be eligible to apply for the HHBRP subsidy, a business needs to be a CCPC (Canadian Controlled Private Corporation)?
REGISTER HERE: https://cra-arc-survey-sondage.ca/f/s.aspx?s=F9BAFA13-1C1B-461D-8F44-A11CECBA5D6E