The federal government on Monday announced that the application deadline for the Canada Emergency Business Account will be extended to October 31st, 2020, from August 31st, 2020. The much-maligned Canada Emergency Commercial Rent Assistance program–intended to provide rent relief to small businesses that have been financially impacted by COVID-19–will not be extended. As we […]
As the fall approaches, federal COVID-19 relief measures are slowly wound down and the economic recovery plods along at a glacial pace with a potential pandemic second wave looming large, Ottawa understood that Canadians would need additional financial assistance in the months ahead. It delivered a costly new aid package last week that includes significant […]
As the federal government takes steps to slowly wind down COVID-19 relief measures such as the Canada Emergency Relief Benefit, its economic recovery strategy is becoming clearer after it was announced on Friday that the Canada Emergency Wage Subsidy would be extended to November 21st, 2020 (or nine claim periods) and possibly to December 31st, […]
The federal government continues to enact measures to address the economic disruption caused by the COVID-19 crisis, this time announcing yet another extension of tax payment due dates for 2019 tax returns. Individuals, corporations and trusts will now have until September 30th, 2020, to pay outstanding current-year tax balances. The previous payment deadline was September […]
The federal government has provided a series of updates and clarifications regarding deduction considerations and qualification eligibility for the Canada Emergency Wage Subsidy, a program designed to encourage employers to retain workers or re-hire those that have been laid off due to COVID-19. The updates are available on the program’s FAQ page and are in […]
Of the many government relief programs implemented over the past two months to deliver aid to businesses and individuals financially impacted by the COVID-19 crisis, none have sowed more confusion and frustration than the Canada Emergency Commercial Rent Assistance benefit. Business groups have called out the CMHC-administered program’s complexity and reliance on the goodwill of commercial […]
The federal government has announced a new one-time COVID-19 relief benefit for senior citizens impacted by social-distancing lockdowns and the ensuing economic upheaval. The support measure will provide seniors eligible for the Old Age Security (OAS) pension with a tax-free payment of $300, along with an additional $200 payment for those who qualify for the […]
The federal government today confirmed an agreement with the provinces to launch the Canada Emergency Commercial Rent Assistance program (CECRA), a new commercial rent relief measure to assist landlords and small businesses struggling due to COVID-19. The measure would reduce rent for small businesses by 75 per cent, while providing loans to mortgaged commercial property […]
COVID-19 relief funds continue to flow from Ottawa with yesterday’s announcement of a new Canada Emergency Student Benefit, a package to support students and recent graduates not eligible for the Canada Emergency Response Benefit. The nearly $9 billion package is designed to provide assistance to students who are unlikely to find work this summer as […]
The federal government yesterday announced that it would begin accepting applications for the Canada Emergency Wage Subsidy (CEWS) on April 27th, 2020. Businesses should expect to receive funds in May. Ottawa also released details on how to apply for the CEWS, which for organizations registered with the Canada Revenue Agency, can be managed through their […]
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