ARTICLE · 21 APRIL 2021

Federal Budget 2021: A Summary Of Key Measures Affecting Businesses

Torkin Manes LLP

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On April 19, 2021, the Government of Canada released its first budget since the onset of the COVID-19 pandemic ("Budget 2021"). Overall, this pre-election budget is focused on spending and provides some tax relief to Canadian taxpayers.

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On April 19, 2021, the Government of Canada released its first budget since the onset of the COVID-19 pandemic ("Budget 2021"). Overall, this pre-election budget is focused on spending and provides some tax relief to Canadian taxpayers. From a revenue perspective, Budget 2021 generally emphasizes enhancing existing rules and enforcing compliance over introducing new taxing measures. One exception arises in the expansion of sales taxes on electronic commerce. We summarize below some of Budget 2021's key tax measures for businesses.

A. Corporate Tax Measures

1. COVID-19 Relief Programs

Canada Emergency Wage Subsidy ("CEWS"), Canada Emergency Rent Subsidy ("CERS") and Lockdown Support

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