As part of our continued commitment to keeping you informed, we have compiled a list of useful resources for you listed below. If you have any questions or have something that you think others might find useful as well, please share it with us!
- Caledon Hills Private Wealth Resource Folder
- Apply for Government Benefits
- Tax & Estate Updates
- Third-Party Discussions
- Government Resource Centres
- Mortgage Information
- Online Tax Filing
- Canada Post Response
- Virtual Activities for Kids
- Homeschooling Resources
Caledon Hills Private Wealth Resource Folder:
Find useful resources for help with budgeting, investing concepts etc. We will be updating this link on a regular basis with new content and useful information, so be sure to check back.
Apply for Government Benefits:
Here is the link for applying for Federal benefits:
Ontario has also released a benefit available for families with children aged 0-12, and children/youths aged 0-21 with special needs.
Here is the link for applying for Ontario benefits (Additional to Federal):
Tax & Estate Updates:
- Discussion article addressing FAQs pertaining to layoffs & accessing EI
- The article discusses who can apply and receive benefits under different scenarios
- Addresses questions related to self-employed, contract, and full/part-time employees
- Brief summary of federal government’s stimulus package
- Outlines various components & announcements leading up to $82 billion stimulus package
- Succinct summary of Ontario’s $17 billion stimulus package
- Discusses monetary amounts for various relief programs (reduced electricity costs, business tax relief, etc)
- Reference landing page from Ontario’s CPA society covering a variety of topics related to COVID-19
- Discusses financial reporting for business activity amid COVID-19
- Combines a variety of third-party resources and impacts related to topics such as, tax, audit & regulatory, practice management
Government Resource Centres:
- Overview page from the Canadian Government
- Aggregates all resources & support related to both individuals and businesses
- Provides online assistance for questions through the ‘COVID-19 Virtual Assistant’, located in the bottom right hand corner
- Landing page for filing income tax and benefit/support payments
- Discusses electronic signatures and contact information for the CRA
- Summary report further outlining relief benefits to individuals and businesses
- Provides steps in how to access benefit programs
- Further information on who to contact to access benefit programs
- Benefits related to EI, child care, student loans, etc.
We have received a few questions regarding the mortgage deferral program being implemented by the big banks and major lenders, specifically about if you are using that program will it have a negative impact on your credit.
We reached out to a local professional for some insights and what she told us was that this program is being done voluntarily by the banks and lenders, however it was done so without higher level coordination with the government. What this means at this time is that each lender is currently different in how the deferred payments will be treated as far as renewals and how the mortgage is being amortized. The general consensus is that because this is being offered to help with the financial strain on the population, that you will not have your credit rating negatively impacted as long as you are proactive about implementing a deferral program, and that you are not missing any normal payments.
Click Here to view a list of phone numbers for various lenders.
Our recommended partners:
- TaxPlan Canada: For online returns and no face to face contact.
- Liberty Tax (Bolton/Orangeville): They have drop off accommodations
- Blackmere brothers accounting: For small business
- HK Accounting: For Mid to Larger corporate returns and complex personal returns
HollisWealth does not provide any income tax preparation service and does not supervise or review any income tax returns.
Canada Post Response:
Here is a link to Canada Post about what they are currently doing as well as regular updates to their services.
Virtual Activities for Kids:
Click Here to view a PDF of some great virtual activities to keep your kids busy and maybe learn something. Some of the activities include, virtual field trips, animal cams, family yoga dance and PE, hogwarts digital escape room, 50 science experiments for kids, and much more.
If you think teaching your kid manners is tough, try translating all those lessons ("Look people in the eye!," "Stop clowning around!") to the world of video-chatting. That's the challenge many of us are facing as we give our newly homebound kids a crash course in socially acceptable (and safe!) behavior for Zoom, FaceTime, Skype, and other video-chat apps they need for school. It's not hard, but it takes some prep: A trial run, an equipment test, agreed-upon rules, and a few other smart tips help set kids up for success.
Click Here to read the full article.
- Parents' Ultimate Guide to Google Classroom
- Bonus for parents: Free Meditation Apps to help with stress...
COVID-19 Market Perspective
Click on the link below to watch a special presentation on our COVID-19 Market Perspective.