On October 26th, CADA hosted a CEWS Compliance webinar with Canada’s leading tax experts. Over 500 dealers attended the event and it was a major success. Due to an IT issue some dealers whom had preregistered where not able to login. To view yesterday’s webinar, please click here, presentation slides are here. CADA will also be hosting a second live webinar this Thursday October 29, 2020 at 1:30 pm.
Some 85% of CADA dealers have indicated that they have made use of the Canada Emergency Wage Subsidy (“CEWS”) for business continuity during the COVID-19 pandemic. CADA has been very proactive in advocating successfully for the inclusion of dealers in this program. CADA has also successfully advocated for the extension of this program. We are aware that CRA is expected to soon commence audit activities to review payments made under CEWS. Recent media reports in the National Post and Globe and Mail indicate that these audits have begun in September.
In order to make sure dealership leadership and accounting teams are focused on compliance and best practices, CADA is hosting a national webinar entitled CEWS Compliance. The webinar will be co-presented by CADA and Thorsteinssons LLP, Canada’s largest law firm practicing exclusively in taxation law. Thorsteinssons served as CADA’s outside tax advisors on our successful HST files on finance income and insurance. The second webinar will take place on October 29, 2020, at 1:30 PM EST and will be available on CADA.ca for later viewing by members. Click here to register.
A CEWS audit can result in the CEWS recipient being required to repay any ineligible amounts received plus interest and penalties. It is important that CADA dealers understand their obligations and best practices and this webinar and accompanying content are designed to assist dealers with this challenge.
Dealers with questions or comments can contact Huw Williams at firstname.lastname@example.org.