Posts Categorized: COVID-19

Canada Emergency Business Account (CEBA)

CEBA Updates

This program provides interest-free loans of up to $40,000 to small businesses and not-for-profits that carry on active business activities to help cover non-deferable operating costs during a period where revenues have been temporarily reduced. If the balance of the loan is repaid on or before December 31, 2020 25% of the loan will be forgiven (up to $10,000). The following criteria must be met to qualify… Read more »

Canada Emergency Wage Subsidy (CEWS)

The Canada Emergency Wage Subsidy is a subsidy available for a period of twelve weeks that will provide a subsidy of 75% of eligible remuneration, paid by an eligible entity (eligible employer) that qualifies, to each eligible employee. Did you see a drop of at least 15% of your qualifying revenue in March 2020* and… Read more »

Tax Deadlines for 2020

Tax

This year’s tax filing deadlines have been changing, be sure to get yours filed on time to reduce penalties. See below for most recent deadline information. Personal Tax Deadlines T1 late-filing penalties will not be charged if returns are filed and payments are made by September 30, 2020*. Same relief will be provided for self-employed filers (and… Read more »

COVID-19 -Economic Relief for Canadians

Since the beginning of March, restrictions and measures related to COVID-19 have rapidly escalated. On March 18, 2020, the Government of Canada announced a series of measures designed to support the finances of individuals, businesses, charities, and non-profit organizations. Since then, on an almost daily basis, new possibilities have been introduced, and old ones have… Read more »

10% Temporary Wage Subsidy

While we await further information from the federal government on the 75% Emergency Wage Subsidy, the 10% Temporary Wage Subsidy is active, and will continue to be available to those who may not meet the 30% revenue decrease required to received the 75%. Here is everything you need to know: Benefit 10% of remuneration paid… Read more »

Canada Emergency Response Benefit (CERB)

The Canada Emergency Response Benefit (CERB) combines the previously announced emergency care and emergency support benefits, and focuses on those who are not eligible for traditional Employment Insurance benefits. Eligibility Eligible workers must be: At least 15 years old A resident of Canada Have earned a total of $5,000 of income for 2019 or in… Read more »

Wage Subsidy

Employers have access to a 75% wage subsidy for a period of three months, starting with the first pay period that includes March 15th, 2020 if they have had a 30% decrease in revenues. Details are still forthcoming.

My Account Registration

If you anticipate applying for emergency funds when applications open in April, we recommend that you register for MyAccount today

Key Points: Canada’s COVID-19 Economic Response Plan

CANADA’S COVID-19 ECONOMIC RESPONSE PLAN – KEY POINTS FOR BUSINESSES AND INDIVIDUALS Since the beginning of March, restrictions and measures related to COVID-19 have rapidly escalated. While the first stages focused on public health and safety, in very short order, businesses and personal finances began to be affected. It is clear that these challenges will… Read more »