The deadline for most individuals to file their 2019 taxes has been extended to June 1, 2020. The deadline to pay amounts owed has also been extended to September 1, 2020. Penalties and interest will not be charged if payments are made by the extended deadlines of September 1, 2020. This includes the late-filing penalty as… Read More about “CRA Personal Tax Deadline Announcement”
The Prime Minister, Justin Trudeau, today announced an expansion to the eligibility criteria for the Canada Emergency Business Account (CEBA) to include many owner-operated small businesses. This extended measure will help small businesses protect the jobs that Canadians rely on. The changes to the CEBA will allow more Canadian small… Read More about “Canada Emergency Business Account- Expansion of support for workers and small businesses”
The government introduced the Canada Emergency Wage Subsidy (CEWS) to prevent further job losses, encourage employers to rehire workers previously laid off as a result of COVID-19, and help better position Canadian companies and other employers to more easily resume normal operations following the crisis. Finance Minister Bill Morneau today… Read More about “Canadian Emergency Wage Subsidy- Extending eligibility”
The Canada Emergency Student Benefit (CESB) provides emergency financial relief to students and recent graduates who are unable to work, or unable to find work, due to reasons related to COVID-19. It is also available for those who are working but not making more than $1,000 (before taxes) over the… Read More about “Canada Emergency Student Benefit (CESB)”
As of April 27, 2020, online applications have opened for the Canada Emergency Wage Subsidy (CEWS). The CEWS provides a 75% wage subsidy to eligible employers for up to 12 weeks and is retroactive to March 15, 2020. The subsidy will be available at a rate of 75% of weekly… Read More about “Strict compliance of the CEWS eligibility”
Today, Prime Minister Justin Trudeau announced that the federal government has reached an agreement in principle with all provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program will lower rent by 75 per cent for small businesses that have been affected by… Read More about “Canada Emergency Commercial Rent Assistance”
New! Applications for the CEWS will be open on April 27. Be ready to apply for the CEWS. Please read the new information and consider using CRA’s calculator spreadsheet. Click here to read more about the Canada Emergency Wage Subsidy.
On April 16, Prime Minister Justin Trudeau announced changes to the CEBA, expanding the program to make it available to more Canadian businesses. The minimum threshold for 2019 payroll has been lowered to $20,000 (from $50,000) and the maximum increased to $1.5 million (from $1 million). To read updates about the Canada Emergency Business Account click here.
On April 11, 2020, Finance Minister Bill Morneau introduced in Parliament Bill C-14, the COVID-19 Emergency Response Act, No. 2, which received Royal Assent, bringing this measure into law. The improvements to the Canada Emergency Wage Subsidy, also known as CEWS or the 75% subsidy, are as follows: To measure their revenue loss,… Read More about “Canada Emergency Wage Subsidy- Update”
On April 9, 2020, the government announced that small businesses and not-for-profit organizations can apply for support from the Canada Emergency Business Account through their banks and credit unions. Details: CEBA will provide qualifying businesses and not-for-profit organizations a loan of up to $40,000 to help cover their operating costs… Read More about “Canada Emergency Business Account”