COVID-19 Business Supports: Targeted Measures
In the Fall of 2021, the government revised several business supports provided due to the COVID-19 pandemic. The changes include extending the Canada Recovery Hiring Program (CRHP) to May 7, 2022 and increasing the subsidy rate to 50%. The wage and rent subsidies under the previous Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency…
Balbir Saini
COVID-19 support measures to create jobs and growth
Government Announces targeted Covid-19 support measure to create jobs & growth With one of the most successful vaccination campaigns in the world, many businesses safely reopening, and employment now back to pre-pandemic levels, Canadians have reached a turning point in the fight against COVID-19. The government has now surpassed its target of creating a million…
Ontario COVID-19 Child Benefit
Ontario COVID-19 Child Benefit April 26 Onward, get $400 – $500 as Covid-19 Child Benefit. It is extension of Support for Learners Program where everyone received $200 for Learners. If you received a payment through Support for Learners Program, you need not apply for this program. You will start receiving the payment from April 26…
Highly Affected Sectors Credit Availability Program
WHAT IS HASCAP LOAN PROGRAM? The HASCAP Loan Program is a Canadian Government loan guarantee that provides Canadian businesses in highly-affected sectors with access to low-interest loans of $25,000 to $1,000,000. This program is available to Canadian businesses from all sectors that meet the HASCAP Guarantee eligibility criteria. WHO IS ELIGIBLE Your business is Canadian…
$200 SUPPORT FOR LEARNERS
Get $200 Support for Children, Youth and Students in their continued learning during the COVID-19 pandemic in the 2020-2021 School Year by Ontario Government. You are eligible if you live in Ontario. Parents or Guardians to a Child or Youth up to Grade 12 can apply. Also Secondary Students over the Age of 18 Years up…
Canadian Emergency Rent Subsidy (CERS)
Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021. This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords. If you are eligible for the base…
CEBA Expanded With $20,000 More
CEBA EXPANDED WITH $20,000 MORE In an effort to continue to support businesses that have been impacted by the COVID-19 Pandemic, the Government of Canada has expanded the Canada Emergency Business Account (CEBA) Program to allow businesses with an existing CEBA loan to apply for a $20,000 expansion i.e. to increase their existing CEBA loan…
CEBA – Tax Treatment for Forgivable Portion
CEBA-TAX TREATMENT FOR FORGIVABLE PORTION While its important to get the loan under Canada Emergency Business Account, its also important to understand the tax impact of it. Under the original program, out of $40,000 loan, $10,000 is forgivable if loan is repaid before Dec 31, 2022. With the expansion of program with addition $20,000, the…
How to return CERB?
You have few options to return the CERB payment Online by CRA My Account https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html By mail: Mail a cheque or money order to the CRA: Make the payment out to “Receiver General for Canada” Indicate it is for “Repayment of CERB” Indicate which eligibility period you are repaying Include your Social Insurance Number (SIN)…
Canada Recovery Caregiving Benefit (CRCB)
The new Canada Recovery Caregiver Benefit, would be effective from September 27, 2020 for one year, and provide $500 per week, for up to 26 weeks per household to eligible Canadians. In order to be eligible for the Canada Recovery Caregiving Benefit, individuals would need to: reside in Canada; be at least 15 years of…
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