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Budgeting for a Post-pandemic World
The COVID-19 pandemic has taken the world by storm since it was first discovered in late 2019, affecting virtually all strata of human endeavors. Business owners, business advisors, and other business stakeholders were not left out of the onslaught. …
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New Recovery Benefits
New Recovery Benefits If you were receiving CERB, you may be eligible for one of the new recovery benefits retroactive to September 27, 2020 and available until September 25, 2021. Canada Recovery Benefit (CRB) The Canada Recovery Benefit will …
The Speech from the Throne Sheds Light on the New Economy
The recent Speech from the Throne delivered by the Honorable Governor-General on September 23 provided some insight into the direction the government intends to guide the Canadian economy through the remainder of the COVID-19 pandemic and beyond. …
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Federal government introduces legislation for new recovery benefits
On September 24, 2020, the federal government tabled Bill C-2, An Act relating to economic recovery in response to COVID-19, which creates three new temporary recovery benefits to support Canadians who are unable to work for reasons related to …
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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 …
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 …
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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 …
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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 …
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Canada Emergency Business Account (CEBA)
The application deadline for CEBA extended from October 31, 2020, to June 30, 2021. What You Need to Know: Canada Emergency Business Account (CEBA) CEBA is administered through your business’s primary operating bank. Most banking institutions will …
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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 …
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) …
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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”); …
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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 …
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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 …
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Canada Emergency Response Benefit (CERB)
Actionable Information What is the Canada Emergency Response Benefit (CERB)? If you have lost income because of COVID-19, the Canada Emergency Response Benefit (CERB) will provide you with temporary income support. The CERB will provide you with …
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