| | | February 2021 | New HASCAP guidelines
John Oakey, CPA, CA, TEP, is national director of Tax Services at Baker Tilly Canada | In the Fall Economic Statement, the federal government announced it would work with financial institutions to develop a financing program to help Canadian-based businesses that have been highly affected by the pandemic. The program, which was officially launched on Feb. 1, is called the Highly Affected Sectors Credit Availability Program (HASCAP). This program is available until June 30, 2021, and applications will be accepted at participating financial institutions. There are various businesses that are not eligible for the program, which are listed in the appendix.
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Baker Tilly Canada periodically publishes Tax Flash for its clients and associates. It is designed to highlight and summarize the continually changing tax and business scene across Canada. While Tax Flash may suggest general planning ideas, we recommend professional advice always be sought before taking specific planning steps. |
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