This article is from the quarterly Canadian Overview, a newsletter produced by the Canadian member firms of Moore North America. These articles are meant to pursue our mission of being the best partner in your success by keeping you aware of the latest business news. CEBA – Forgivable LoanIf you are a small business owner […]
Summary of the Federal Government’s COVID-19 Financial Support
Here is an up-to-date summary of the financial support offered by the federal government through Canada’s COVID-19 Economic Response Plan. SUPPORT BENEFITS New Recovery Benefits With Bill C-4 receiving Royal Assent, following the federal government’s Throne Speech commitments, more details have emerged on how new COVID-19 recovery benefits will be implemented. Subsequently, three new temporary recovery benefits have […]
Canada Announces a New Commercial Rent Support Program, Expands Small Business Loans and Extends the Canadian Emergency Wage Subsidy
On Friday October 9th 2020, the Federal Government announced several new subsidies available to small to mid-size businesses and organizations affected by Covid-19, including a new Commercial Emergency Rent Subsidy (“CERS”) program, expanding the Canadian Emergency Benefit Account (“CEBA”) loan program and extending the Canadian Emergency Wage Subsidy (“CEWS”) program to June of 2021. Detailed […]
Canada Emergency Business Account (CEBA) Deadline Extension – October 31st, 2020
The August 31st, 2020 deadline was extended to October 31, 2020 per a Twitter feed announcement from Finance Canada. The CEBA website currently has been updated removing the August 31 deadline: https://ceba-cuec.ca/ Items to note: CEBA help-line 1-888-324-4201 if you have further questions or contact your DMCL advisor or financial institution; Best to check out […]
Canada Emergency Business Account (CEBA) – August 31, 2020 Deadline Reminder
The deadline to apply for the Canada Emergency Business Account (CEBA) interest-free loan up to $40,000 is a hard deadline of next Monday, August 31, 2020. Up to 25% of the loan (up to $10,000) may be forgiven (may be taxable) if 75% of the loan is repaid by December 31, 2022. If the loan […]
COVID-19: Canada Emergency Business Account Update
Update: Bill Morneau, Finance Minister, announced on Twitter that the expanded Canada Emergency Business Account (CEBA) applications are now available through Canada’s large banks. On April 09, 2020, the Government announced the Canada Emergency Business Account (“CEBA”). The CEBA provides zero-interest, partially forgivable loans of up to $40,000 to small businesses that have experienced diminished revenues […]
COVID-19: Economic Measures Update – For the Week Ending April 17, 2020
CANADA EMERGENCY WAGE SUBSIDY (“CEWS”) – 75% WAGE SUBSIDY UP TO $847/WEEK CRA application portal ready in 1-3 WEEKS [Sources say it may be ready April 27, 2020] The legislation received royal assent late last Saturday night (April 11th). It is a wage subsidy of up to $847 per employee per week if the business […]
