COVID-19 Tag

Canada Emergency Business Account (CEBA) is a loan program announced by the government of Canada to support small businesses in meeting their operational needs. You can find more information about this program from your bank. Your bank is the only source of information for you. Canada Emergency Business Account and Other Loan Programs for Small Businesses during COVID-19… New Update: T4 might...

Effective July 05, 2020, there are new rules applicable to non-arm’s length employees and Canada Emergency Wage Subsidy, please read here. In response to COVID-19, the government of Canada has announced a series of relief measures. Canada Emergency Wage Subsidy (CEWS) is one of such measures to provide relief to businesses. One of the most frequent questions we are having from a lot of...

  COVID-19 Crisis has posed an existential threat to small and medium-sized businesses in particular. Small businesses are seeing significantly lower revenues if not completely zero. The government has announced a series of benefits for small and medium businesses to help them through this crisis. There is a lot of confusion and misinformation going around the availability of loans for...

COVID-19 Economic Crisis is a historical event in making! In the future, this economic event of 2020 is going to be referred to alongside the great recession of 1932 and 2008. This will be always a case-study for how diseases and epidemics affect globally connected economies. COVID-19 crisis has certain unique differences from the previous global recessions. Whilst the 2008 crisis was...

How Small Businesses and Entrepreneurs can take advantage of COVID-19 situation – a Positive Perspective There is no doubt about the economic damage inflicted by COVID-19. It has wiped out the savings and growths in investment portfolios, bashed the seniors by wiping lifetime savings and gains in their RRSPs on top of health issues, sent the non-essential workforce to home, and put the...

The federal government of Canada has announced a 75% wage subsidy for employers. The purpose of this is to support businesses of all sizes to either re-hire laid-off workers or to not lay-off workers due to decreased demand. Previously the federal government had announced a 10% subsidy for small businesses, that subsidy is still in effect also. Canada Emergency Wage Subsidy has new rules...

COVID-19 is spreading its grasp all over the world. Like other governments, the Canadian government has also stepped in to check the adverse impact of the disease. The government came up with the Canada Emergency Response Benefit (CERB) to help business owners, employees, and self-employed get much-needed financial relief. The program combines the two other previously announced benefits, the...

Canada Tax Filing and Payment Extensions amidst Covid-19 This post is not being updated anymore. Please visit our page income tax services during Covid-19.  Updated on July 27, 2020 Updated on March 18, 2020 (11:45 EST) As announced by Prime Minister Trudeau: Tax filing deadlines are extended until June 01, 2020 Tax Payments are deferred until August 31, 2020 for the amounts due after...