Please note that there is a firm deadline of January 31st, 2021 for eligible businesses that have suffered a revenue decline to apply for the CEWS which provides up to $847 per employee per week for the period from March 15th to August 1st, 2020. To qualify, a business must have suffered a revenue decline […]
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 […]
COVID-19 Resources
“Originally published March 04, 2020. Last updated September 09, 2020”. General Information DMCL CPA Articles on COVID-19: Visit our accounting blog for the latest COVID-19 updates. Detailed Report from Thomson Reuters: Federal and Provincial Relief Government of Canada Support Individuals Businesses Support for Individuals Mortgage Deferral Extension of Federal Tax Filing and Payment Deadlines Canadian Credits […]
The Government Significantly Extends and Expands the Canadian Emergency Wage Subsidy (CEWS) to Apply to More Businesses
On July 17th 2020, the Government responded to recent feedback received from public consultation and addressed many of the concerns with the previous iteration of the Canada Emergency Wage Subsidy (CEWS) program (referred to as “CEWS 1.0”) by significantly revising the program (referred to as “CEWS 2.0”) by: Extending the program to December 19th 2020, […]
Update on Canada Emergency Wage Subsidy
On May 15th, 2020 Prime Minister Trudeau made further announcements in regards to Canada Emergency Wage Subsidy (CEWS): The Canada Emergency Wage Subsidy program will be extended for 3 months. The government will also reconsider the 30% revenue decline test for CEWS eligibility to ensure that it is not a barrier to achieving the overall […]
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 […]
