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INSIGHTS, NEWS & EVENTS

Our team is always up to something. Read our latest insights, news and updates here.

Enhanced Canada Emergency Wage Subsidy

On August 17th, 2020, the Minister of National Revenue, the Honourable Diane Lebouthillier, announced that the Canada Revenue Agency has opened applications for Period 5 – the first period of the enhanced CEWS program. Highlights of the program changes for Periods 5-9 include: The extension of the CEWS, including redesigned program details, until November 21, … Continued

CERB Repayment

In the wake of the COVID pandemic outbreak, the Canadian government introduced the Canadian Emergency Response Benefit (CERB). Financial assistance to employed and self-employed individuals of up to $2000 for a four-week period. That works out to be $500 a week, and the availability of the CERB was extended over several four-week periods. The CRA … Continued

Canada Emergency Commercial Rent Assistance (CECRA)

On July 31, 2020 Finance Minister Bill Morneau announced that the Canada Emergency Commercial Rent Assistance (CECRA) will be extended by one month. Existing applicants need to reapply for the month of August and have until September 14, 2020 to do so. New applicants have the choice of applying for the three-month initial period, four months … Continued

Business Credit Availability Program (BCAP)

Application deadline for the BCAP extended to June, 2021. A Business Credit Availability Program (BCAP) was established to provide $65 billion of additional support to small and medium-sized businesses through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC). BDC and EDC are working with private-sector lenders to coordinate on credit solutions for individual … Continued

Canada Emergency Business Account (CEBA)

The application deadline for CEBA extended from August 31, 2020, to October 31, 2020. What You Need to Know: Canada Emergency Business Account (CEBA) CEBA is administered through your business’s primary operating bank. Most banking institutions will send out instructions on how to apply. Who is eligible to receive the CEBA? How to prepare for … Continued

Income Tax Filing and Payment Dates

COVID-19: CRA INCOME TAX FILING AND PAYMENT DATES Tax Year Filing Deadline Payment Date Individuals 2019 tax year June 1, 2020 Sept 30, 2020* Self-Employed Individuals(Includes spouse) 2019 tax year June 15, 2020 Sept 30, 2020** Corporations Filing due date after March 18, 2020 and before June 1, 2020 June 1, 2020 Sept 30, 2020** … Continued

Canada Emergency Wage Subsidy (CEWS)

Actionable Information Canada Emergency Wage Subsidy (CEWS) On April 11, 2020, the government passed the Canada Emergency Wage Subsidy Bill as part of the COVID-19 Emergency Response Act, No. 2. What does the Canada Emergency Wage Subsidy (CEWS) mean for my business? The CEWS is a 75% subsidy available to non-publicly funded companies, charities, and … Continued

Temporary Wage Subsidy

Actionable Information: Temporary 10% Wage Subsidy I am a business owner or employer. How do I know if I am eligible? In order to be eligible, the employer must meet three criteria: employ one or more individuals in Canada (“eligible employees”); was registered, with a business number and a payroll remittance account, on March 18, … Continued

WSIB: Financial Relief Package

What does WSIB Financial Relief Package mean for my business? The financial relief package allows Ontario businesses to defer premium reporting and payments until August 31, 2020. Businesses who report and pay monthly, quarterly or annually based on their insurable earnings are eligible for this deferral. Each payer of WSIB premiums reports and pays on the previous full … Continued

Employer Health Tax (EHT)

What does the Employer Health Tax (EHT) relief measure mean for my business? On March 25, 2020, the Ontario government announced relief measures to help support Ontario businesses when they need it most. Note: This measure only applies to businesses that pay wages greater than $490,000 annually. What’s Included? Increasing the Employer Health Tax exemption … Continued