Dear Valued Clients,
Undoubtedly, you have been affected by the COVID-19 crisis. There have been tremendous changes in a short period of time. There is no shortage of information but unfortunately, a lot of it is confusing and often opinions are masked as facts. It's been our experience that many of our clients and friends are scared and fearful. Our firm wrote about this earlier this week and we'd encourage you to read what we are doing to provide Calm Leadership.
Our firm's vision is:
Transforming Tax Services by Making Complexity Irrelevant.
Accordingly, as your trusted advisors, we view a significant part of our role is to provide peace of mind during this confusing and complex time. That is the purpose of this communication.
Yesterday, the Government of Canada announced a package of significant economic enhancements and tax changes. Our firm has written about these changes and you can view our analysis here. Please take the time to review our analysis. We would be pleased to address any questions that you may have.
We have received a lot of questions from our clients recently about how our services might be impacted by the current crisis. Accordingly, the below represents a list of common Questions ("Q") and Answers ("A") that we have been receiving over the last week or so as the COVID-19 crisis has evolved:
Q – Is your office open during this time?
A – Yes, we are taking all of the necessary and suggested measures for our colleagues and clients to remain safe. We intend to remain open unless the situation changes.
Q – I do not feel safe to venture out to your office. Is Moodys Private Client able to complete my personal and corporate taxes electronically without the need to physically attend your office?
A – Yes. While we are currently "business as usual" in the office (with the added extra precautions being taken as our firm discussed in our Calm Leadership blog ), we are certainly able to provide services remotely.
Q – Can I still come to your office to drop off my tax documents?
A – Yes, currently our office reception continues to be open 8 a.m. -5 p.m. MDT Monday to Friday. We just ask that if you are feeling unwell or have recently returned from a trip out of the country to not come into the office to avoid the spread of any illnesses to our team members.
If you prefer or are able to submit your documents to us electronically, we can establish a secure portal for you to facilitate the transfer of information. Simply reach out to us and we'll promptly get this ready. Please contact Karen Stefanic at email protected] or (587) 393-1168 to set up your client specific portal if you do not already have access. Karen will provide you login instructions and can assist you if you encounter any issues. Alternatively, we will arrange a courier to come and collect your records from you.
Q – Has there been any change to the due dates for 2019 Canadian personal tax returns to be filed or paid?
A – Yes, with the measures announced yesterday, the personal tax filing and payment deadline of April 30, 2020 has been extended to June 1, 2020.
As the majority of the information is readily available at this time to complete personal returns, we encourage you to submit your documents to us so that we can prepare your return, and have it filed in the normal course without the benefit of the extended deadlines. This will help ensure that income sensitive benefits that you may be entitled to, if any, will continue to be received without interruption.
Q – Has there been any change to the due dates for 2019 corporate taxation year-ends?
A – No, the June 30, 2020 filing deadline for corporations with calendar (December 31) year ends has not been extended. However, the payment for any corporate taxes, which would normally be due March 31, 2020 (for Canadian-controlled private corporations and/or associated corporations that earn active business income in 2019 or the previous year and have claimed the small business deduction) has been extended to August 31, 2020.
Q – Is there any other way — other than electronically or by courier — that I can get you my tax documents?
A – Yes. You can mail your documents to our office and we will mail your taxes and supporting documents back to you.
We look forward to working with you to ensure that your affairs are taken care of.
Leave the complexity to us! And stay safe!
Moodys Gartner Tax Law is only about tax. It is not an add-on service, it is our singular focus. Our Canadian and US lawyers and Chartered Accountants work together to develop effective tax strategies that get results, for individuals and corporate clients with interests in Canada, the US or both. Our strengths lie in Canadian and US cross-border tax advisory services, estateplanning, and tax litigation/dispute resolution. We identify areas of risk and opportunity, and create plans that yield the right balance of protection, optimization and compliance for each of our clients' special circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.