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Dear Client and Friend,

For those of you who like numbers, remember from your school days that if the denominator of a fraction gets bigger, the fraction gets smaller. Dr. Ioannidis, a Greek-American physician-scientist, argues that the real fatality rate of COVID–19, or the chance of dying from it, is the same as the seasonal flu. Based on his study, he found that the number of Covid-19 infected people, the denominator, is really 50 to 85 times larger than what was thought or documented. Therefore, the chance of dying is smaller than what may be understood by the general public based on his findings.

It’s time to open up! Below I have highlighted important dates from our three levels of government, and my sections on Real Time Experiences and Silver Linings:

City of Toronto - Property Taxes and Utility Bills Grace Period Ended May 15


The 60 day grace period for property taxes and utility bills payments ended May 15.


Ontario – What Has Opened As of May 19?


Click on the Ontario link to see the detailed list of openings:


Government of Canada – Canada Emergency Commercial Rent Assistance Opens May 25


This program is providing forgivable loans to qualifying commercial property owners to cover 50% of April, May, and June’s gross rent for eligible small business tenants paying less than $50,000 per month in gross rent with at least a 70% drop in pre-COVID revenues.

The property owner must reduce the gross rent by at least 75%. For example, the small business tenant must pay 25% of the gross rent if 75% is reduced by the property owner.

Sample of agreements that need to be signed by the property owner and tenant are provided in the link below, which include a term not to evict the tenant while the agreement is in place.

Originally the program was only open for property owners with a mortgage, but then was changed to include those without a mortgage.

If the property owner and tenant are not at arm’s length i.e. related, the gross rent must be no higher than the fair market rent.

What is included in the definition of “gross rent”? Net rent/minimum rent/base rent in a net lease, additional monthly rent such as taxes, maintenance and insurance (TMI) in a net lease, gross rent in a gross lease. What is not included? HST is not included in the “gross rent” definition when applying for the assistance, but needs to be collected from the tenant and remitted as usual to the government. See “FAQs for Property Owners” in the link below for additional inclusions and exclusions.



Real Time Experiences

Personal taxes are due June 1 due to the Covid extension. Thank you for using the encrypted e-courier service and setting up your user accounts with me. Many of you have been finding it very easy to use. Just click on the e-courier logo below or on my website, and drop off your tax information with a picture or a scan of your documents. There’s always my physical mailbox at home as well.

Silver Linings

Road accidents in India have declined due to COVID-19.


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