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$40,000 (CEBA) Interest Free Loan update

$40,000 CANADA EMERGENCY BUSINESS ACCOUNT (CEBA) Those who spent between $20,000 and $1.5 million for 2019 in total payroll will now be eligible.  Previously, the limits were $50,000 and $1.0 million. https://pm.gc.ca/en/news/news-releases/2020/04/16/prime-minister-announces-additional-support-small-businesses CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE A new program … Continue reading

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Update from the PM

a) Topping up the pay of essential workers (making under $2,500/month) b) The Canadian Emergency Response Benefit will be expanded to include: – Seasonal workers – Artists – People whose EI has recently run out – Those earning $1,000 or … Continue reading

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75% Canada Emergency Wage Subsidy Update

On April 11, 2020, legislation (Bill C-14) was tabled to enact the 75% Canada Emergency Wage Subsidy.  The subsidy is available to eligible employers based on their eligible remuneration paid during certain 4-week periods.  Eligibility is based on sufficient declines … Continue reading

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COVID-19 Newsletter April 9, 2020

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CERB Application starts today

At 6:00 a.m. EDT, CRA’s My Account began accepting applications for the Canada Emergency Response Benefit (CERB). The CERB provides a payment of $2,000 for a 4-week period for up to 16 weeks.  Payments will be processed in 3 business … Continue reading

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COVID-19 April 1, 2020 update

Canada Emergency Response Benefit (CERB): Applications start on April 6 through CRA’s My Account. If already applied for EI, no need to reapply for CERB. Can’t get both the wage subsidy (see below) and the CERB. Payment should be received … Continue reading

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COVID-19 Update March 30, 2020

Update from Prime Minister Justin Trudeau: Business must have reduced earnings of at least 30% and is available for large and small businesses. The number of employees will not affect eligibility. It is also available to non-profit and charities. 75% … Continue reading

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COVID-19 Economic Response Plan Update March 27, 2020

https://www.canada.ca/en/department-finance/economic-response-plan.html Businesses: Prime Minister Trudeau announced FOUR Federal support measures: 1. The wage subsidy payment increased to 75% (back dated to March 15, 2020). More details of this support measure promised by the end of the month. 2. $25 billion … Continue reading

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COVID-19 Economic Response Plan March 25, 2020

Prepared by Video Tax News… March-25-update-covid_19

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BC government COVID-19 action plan March 24, 2020

Today the BC government announced its provincial COVID-19 action plan. To support businesses, the BC government has deferred the employer health tax payments until September 30, 2020, effective immediately. The BC government is also extending tax filings and payment deadlines … Continue reading

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