Dear Clients,
We hope that you and your family are safe, healthy and managing as best you can during the current crisis. We understand that it has been an emotional and stressful time for everyone; however, Accounting Plus is here to assist you during these tough times.
Please find details of our services regarding to COVID-19 by using the following link:
You can define your status and review the sections related to your employment situation (i.e. individual & family or business).
If you require any assistance or have any further questions, please feel free to contact us by phone at (905) 771-1131 or by email at info@accplus.ca.
Individual and Family
Update! Ontario Support For Learners Funding: Apply Now
This funding is intended to provide parents and guardians with essential financial support for children and youth during these unprecedented times.
Parents and guardians will receive a one-time payment of $200 for each child up to grade 12, or $250 for each child or youth up to age 21 with special needs.
Fill out and submit one application per child to receive funding. Only one parent or guardian may apply to each child. Each application will be verified, processed and paid separately. This means that if you have more than one child you may not receive payments at the same time.
The deadline to apply is February 8, 2021.
Ontario Support for Learners funding: Apply Now
NEW! BC Recovery Benefit: Apply on Dec 18, 2020
BC Recovery Benefit
Online applications open December 18, 2020. Support will be available by phone starting December 21, 2020.
The BC Recovery Benefit (the benefit) is a one-time direct deposit payment for eligible families, single parents or individuals. Benefit eligibility is based on net income from your 2019 tax return. You must apply to receive the benefit. Applications open December 18, 2020.
Benefit rates
The amount you’re eligible for will be automatically calculated based on your income when you apply.
Families and single parents
- $1,000 for eligible families and single parents with a net income of up to $125,000
- Reduced benefit amount for eligible families and single parents with a net income of up to $175,000
Individuals
- $500 for eligible individuals with a net income of up to $62,500
- Reduced benefit amount for eligible individuals with a net income of up to $87,500
Read More>>
NEW! Ontario Emergency Assistance: Apply Now
About emergency assistance
If you are in an emergency situation and you live in Ontario, you might be eligible for emergency assistance.
If you are eligible for emergency assistance, the amount you get will depend on your specific situation. In most cases, you will not get more than what you would get on Ontario Works.
For example, you may get:
- approximately $733 for a month if you are a single person and need help paying for food and shelter
- more if you have children
- up to 48 days of support depending on your specific situation
Canada Recovery Sickness Benefit (CRSB): $500/ week, up to 2 weeks
The application is open.
The government of Canada would provide $500 per week for up to two weeks, for workers who are sick or must self-isolate for reasons related to COVID-19.
Eligibility
- Residents in Canada who are at least 15 years of age and have a valid Social Insurance Number (SIN);
- Workers employed or self-employed at the time of the application; and
- Workers who earned at least $5,000 in 2019 or in 2020.
Canada Recovery Caregiving Benefit (CRCB): $500/ week, up to 26 weeks
The application is open.
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.
Eilgibility
- reside in Canada;
- be at least 15 years of age on the first day of the period for which they apply for the benefit;
- have a valid Social Insurance Number;
- be employed or self-employed on the day immediately preceding the period for which the application is made;
- have earned at least $5,000 in 2019 or in 2020;
- have been unable to work for at least 60% of their normally scheduled work within a given week because of one of the following conditions:
- they must take care of a child who is under 12 years of age on the first day of the period for which the benefit is claimed:
- because their school or daycare is closed or operates under an alternative schedule for reasons related to the COVID-19 pandemic;
- who cannot attend school or daycare under the advice of a medical professional due to being at high risk if they contract COVID-19; or
- because the caregiver who usually provides care is not available for reasons related to the COVID-19 pandemic; or
- they must provide care to a family member with a disability or a dependent:
- because their day program or care facility is closed or operates under an alternative schedule for reasons related to COVID-19;
- who cannot attend their day program or care facility under the advice of a medical professional due to being at high risk if they contract COVID-19; or
- because the caregiver who usually provides care is not available for reasons related to the COVID-19 pandemic;
- not be in receipt of paid leave from an employer in respect of the same week; and
- not be in receipt of the CERB, the EI Emergency Response Benefit (ERB), the Canada Recovery Benefit, the Canada Recovery Sickness Benefit, short-term disability benefits, workers’ compensation benefits, or any EI benefits or Quebec Parental Insurance Plan (QPIP) benefits in respect of the same week.
- they must take care of a child who is under 12 years of age on the first day of the period for which the benefit is claimed:
Canada Recovery Benefit (CRB): $500/ week, up to 26 weeks
Applications will open on October 12, 2020.
The government of Canada would provide $500 per week for up to 26 weeks, to workers who are self-employed or are not eligible for EI and who still require income support and who are available and looking for work. This benefit would support Canadians whose income has dropped or not returned due to COVID-19.
Eligibility
- residents in Canada
- are at least 15 years old and have a valid Social Insurance Number (SIN);
- have stopped working due to the COVID-19 pandemic and are available and looking for work; or are working and have had a reduction in their employment/self-employment income for reasons related to COVID-19;
- are not eligible for Employment Insurance;
- earned at least $5,000 in 2019, 2020, or in the 12 months before the date you apply from any of the following sources:
- employment income (total or gross pay)
- net self-employment income (after deducting expenses)
- maternity and parental benefits from EI or similar QPIP benefits
- have not quit their job voluntarily.
This benefit would be effective from September 27 for one year.
Employment Insurance: Sick Leave, one-week waiting period would be waived
The one-week waiting period for EI sickness benefits will be waived for new claimants who are quarantined.
People claiming EI sickness benefits due to quarantine will not have to provide a medical certificate.
People who cannot complete their claim for EI sickness benefits due to quarantine may apply later and have their EI claim backdated to cover the period of delay.
Eligibility
- Workers who are quarantined or sick with COVID-19
- Regular weekly earnings from work have decreased by more than 40% for at least one week
- Have accumulated 600 insured hours of work in the 52 weeks prior to the start of your claim or since the start of your last claim, whichever is shorter.
How to Apply
- Apply Online: EI Application
- Accounting Plus cannot apply on the client’s behalf
Employment Insurance: Laid Off Due to Work Closures
Apply regularly for EI benefits with a one-week waiting period
Record of Employment (ROE) is required but you can apply for EI benefits first and then provide the ROE after your application.
Eligibility
Have worked for the required number of insurable employment hours in the last 52 weeks or since the start of your last EI claim, whichever is shorter
How to Apply
Apply Online: EI Application
Accounting Plus cannot apply on the client’s behalf
Reduction of RRIF Minimums: 4.37% of the Jan 1, 2020 Value
Registered Retirement Income Fund (RRIF) will be reduced by 25% for tax year 2020.
As a result of the 25% reduction, the RRIF minimum withdrawal for this year is now reduced to 4.37% of the January 1, 2020 value.
How to Apply
No further action is needed
Special one-time tax-free payment for certified holders of the Disability Tax Credit: $600
This non-taxable, non-reportable, one-time payment provides up to $600 in recognition of the extraordinary expenses incurred by persons with disabilities during the COVID-19 pandemic.
This payment complements other emergency supports, such as the one-time special payment through the Goods and Services Tax Credit and the one-time payment to seniors.
Read More>>
Special one-time tax-free payment for certified holders of the Disability Tax Credit
Individual And Family – Closed Programs
[Closed] Canada Emergency Response Benefit (CERB): $500 a week, until Sep 26, 2020
CERB is a taxable benefit and will provide you with $500 a week for up to 28 weeks and is available from March 15, 2020, to Sep 26, 2020 for workers who have lost their income as a result of the COVID-19 pandemic. You can apply no later than December 2, 2020 for payments retroactive to within that period.
| 4-week period cycle | Period dates |
|---|---|
| 1 | March 15, 2020 to April 11, 2020 |
| 2 | April 12, 2020 to May 9, 2020 |
| 3 | May 10, 2020 to June 6, 2020 |
| 4 | June 7, 2020 to July 4, 2020 |
| 5 | July 5, 2020 to August 1, 2020 |
| 6 | August 2, 2020 to August 29, 2020 |
| 7 | August 30, 2020 to September 26, 2020 |
Individuals can expect to receive their CERB within 10 days of applying through their CRA account online.
Eligibility
- Residing in Canada, who are at least 15 years old;
- Who have stopped working because of COVID-19 or are eligible for Employment Insurance regular or sickness benefits:
- Who had income of at least $5,000 in 2019 or in the 12 months prior to the date of their application; and
- Who are or expect to be without employment or self-employment income for at least 14 consecutive days in the initial four-week period. For subsequent benefit periods, they expect to have no employment income.
- The income of at least $5,000 may be from any or a combination of the following sources: employment; self-employment; maternity and parental benefits under the Employment Insurance program and/or similar benefits paid in Quebec under the Quebec Parental Insurance Plan.
- The Benefit is only available to individuals who stopped work as a result of reasons related to COVID-19. If you are looking for a job but haven’t stopped working because of COVID-19, you are not eligible for the Benefit.
- Who is earning $1,000 or less a month due to the current situation*
- Who is expecting a seasonal job that isn’t coming due to current situation*
- Who’ve run out of EI since January 1, 2020, due to current situation* April 15, 2020 update
- You will need to apply and confirm your eligibility for the Canada Emergency Response Benefit every 4 weeks (to a maximum of 16 weeks) if your situation continues.
How to Apply
- Applications will be available on April 6, 2020 via
- CRA MyAccount (Need to Register? Instruction Here)
- Sign in to your CRA MyAccount
- Go to COVID-19: Canada Emergency Response Benefit in the alert banner at the top of the page
- Select the period you want to apply for
- Declare that you qualify for the benefit
- Confirm we have the right payment information
- A toll-free number: 1-800-959-2019 or 1-800-959-2041
- Select your language preference: English or French
- Follow the prompts to enter your information, including:
- your SIN
- confirmation of your postal code
- the period you are applying for
- Declare that you qualify for the benefit
- Both of these services are available 21 hours a day, 7 days a week. Both services are closed from 3:00 a.m. to 6:00 a.m. (Eastern time) for maintenance.
- CRA wants to provide the best service possible to everyone. To help manage this, the CRA has set up specific days for you to apply. Please use the following guidelines:
If you were born in the month of Apply for CERB on Your best day to apply January, February or March Mondays April 6 April, May, or June Tuesdays April 7 July, August, or September Wednesdays April 8 October, November, or December Thursdays April 9 Any month Fridays, Saturdays and Sundays
After You Apply
If you are eligible for the CERB, you can expect $2,000 ($500 per week) for a 4-week period.
It is a single payment for a 4-week period.
If your situation continues, you can re-apply for a payment for multiple 4-week periods, to a maximum of 16 weeks (4 periods)
Q & A
[Closed] Personal Income Tax: Payment Due Sep 30, 2020
Filing deadline for Personal Income Tax: June 1, 2020
Self-employed and Spouse: Filing deadline for Personal Income Tax: June 15, 2020
Extended deadline for outstanding income tax payments owed: September 30, 2020*
More Info
https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-filing-payment-dates.html
[Closed] Seniors to Receive Up to $500 in a One-Time Payment: May 12, 2020 Updated
Seniors will be receiving a one-time payment of up to $500 to help offset any increases in the cost of living due to COVID-19 — and Prime Minister Justin Trudeau today promised to help find long-term solutions to the tragedies unfolding in long-term care facilities.
Seniors Minister Deb Schulte said today that seniors who qualify for Old Age Security (OAS) will be eligible for a one-time, tax-free payment of $300, and those eligible for the Guaranteed Income Supplement (GIS) will get an extra $200.
Those eligible for both will receive $500.
[Closed] COVID-19 Emergency Benefit for Students: Up to $2.000/ month
New COVID-19 emergency benefit for students: eligible postsecondary students receive $1,250 a month from May to August, and if you are taking care of someone else or have a disability, that amount increases to $2.000 monthly.
Eligibility
- College and university students currently in school, planning to start in September, or who graduated in December 2019 are eligible.
- Working students earning less than $1,000 per month
How to Apply
Apply online or by phone
- Sign in to your CRA My Account
- Phone: 1-800-959-2019 or 1-800-959-2041
- To verify your identity, you’ll need:
- your Social Insurance Number (SIN)
- postal code
- Hour: Monday to Sunday, 6 am to 3 am (Eastern time)
Re-apply
You will need to re-apply for each 4-week period that you are eligible for.
Read More
Canada Emergency Student Benefit (CESB): Apply before Sep 30, 2020
[Closed] Child Support: $300 per child (Federal), $200 per child (Ontario)
Federal: Canada Child Benefit
Up to $300 per child added on top of what you already received. Only for the 2019-2020 tax year and will be effective for the May 2020 payment
Eligibility
- You live with a child who is under 18 years of age
- You are primarily responsible for the care and upbringing of the child
- See who is primarily responsible
- You are a resident of Canada for tax purposes
- You or your spouse or common-law partner must be any of the following:
- a Canadian citizen
- a permanent resident
- a protected person
- a temporary resident who has lived in Canada for the previous 18 months, and who has a valid permit in the 19th month
- an Indigenous person who meets the definition of “Indian” under the Indian Act
How to Apply
No further action is needed
Ontario: Child Support
Ontario family will receive a one-time payment of
- $200 for children aged 0 to 12
- $250 for children or youth aged 0 to 21 with special needs
Eligibility
There is no income cap on this program. All parents are eligible if you have a child who is:
- up to 12 years old
- up to 21 years old with special needs
If you have more than one child, you must submit one application per child.
Before you apply, please note:
- only one parent can apply for each child
- the parent who applies should have custody of the child
How to Apply
STEP 1: GATHER THE REQUIRED INFORMATION
To complete the application, you will need:
- the name of your child’s school and school board (if applicable)
- your child’s date of birth
- your banking information
- a valid email address
STEP 2: COMPLETE THE APPLICATION
Applications can only be submitted online.
STEP 3: CONFIRMATION
After you submit your application, you will receive an:
- email confirmation
- application reference number
More Info
[Closed] GST/HST Credit: Up to $400 for single adults, $600 for couples
Up to $400 for single adults and $600 for couples; one-time special payment by early May 2020
Eligibility
- you are receiving GST/HST credit for the year of 2019
- you are at least 19 years old
- you have (or had) a spouse or common-law partner
- you are (or were) a parent and live (or lived) with your child
How to Apply
No further action is needed
[Closed] Student Loan Payments Deferred: Six-month interest-free reprieve
Federal: Student Loan Payments Deferred
- Six-month interest-free reprieve
- No payments
- No interest accrual
How to Apply
- Contact the National Student Loans Service Centre (NSLSC)
- If you have student loans from Alberta, Manitoba, Nova Scotia or Prince Edward Island, contact your provincial loan provider
Ontario: Student Loan Payments Deferred
Students will see OSAP payments loan payments suspended for six months.
How to Apply
No further action is needed
[Closed] Bank Supports: 6-month payment deferral for mortgages
Include up to a 6-month payment deferral for mortgages, business loan payment deferrals, increases to operating line of credit limits, waiving of minimum credit card payments and the opportunity for relief on other credits
How to Apply
Contact your bank directly since it is on a case-by-case basis
[Closed] Free Emergency Daycare: For Frontline Healthcare Workers and First Responders.
Will offer free emergency daycare for frontline healthcare workers and first responders.
How to Apply
Toronto: Online Application
Business
Apply Now! Ontario Small Business Support Grant
Eligible small businesses will receive up to $20,000 through the new Ontario Small Business Support Grant. Applications are now open!
Apply Now
https://www.ontario.ca/page/businesses-get-help-covid-19-costs
Ontario Small Business Support Grant
Applications are open for the new Ontario Small Business Support Grant, which helps small businesses that are required to close or significantly restrict services under the Provincewide Shutdown effective December 26, 2020.
Read More
Ontario Small Business Support Grant: Apply Now
Apply Now! Canada Summer Jobs
Canada Summer Jobs
Canada Summer Jobs is an initiative of the Youth Employment and Skills Strategy, which aims to provide flexible and holistic services to help all young Canadians develop the skills and gain paid work experience to successfully transition into the labour market.
The Canada Summer Jobs program objectives align with the redesigned YouthEmployment and Skills Strategy and are as follows:
- Provide quality work experiences for youth;
- Respond to national and local priorities to improve access to the labour market for youth who face unique barriers; and,
- Provide opportunities for youth to develop and improve their skills
Read More
Canada Summer Jobs: Employers Can Apply Now
Apply Now! Canada Emergency Business Account (CEBA): Guaranteed 60K loans with 20K forgiveness*
CEBA requirements and deadlines have changed:
- As of December 4, 2020, CEBA loans for eligible businesses will increase from $40,000 to $60,000.
- Applicants who have received the $40,000 CEBA loan may apply for the $20,000 expansion, which provides eligible businesses with an additional $20,000 in financing.
- All applicants have until March 31, 2021, to apply for $60,000 CEBA loan or the $20,000 expansion.
FAQ
Who can apply for the $20,000 expansion?
Applicants with a $40,000 CEBA loan may apply for the $20,000 expansion.
I already repaid my original CEBA loan. May I apply for the $20,000 expansion?
Yes, you may apply for the $20,000 expansion at the financial institution that provided you with your original CEBA loan.
What if I run my business out of a Personal Bank Account?
Businesses that were active and operating as of March 1, 2020 but didn’t have a business bank account as of March 1, 2020 may now be eligible for the CEBA program. The steps for these businesses to access CEBA are:
- Visit and complete the Pre-screen Tool on https://verify-verifier.ceba-cuec.ca/
- Open a business chequing/operating account with your primary financial institution
- Apply for CEBA at your primary financial institution
- Follow instructions from your financial institution to complete all relevant parts of the CEBA application.
Source: https://ceba-cuec.ca/
Apply Now! Canada Emergency Rent Subsidy (CERS)
The Canada Emergency Rent Subsidy (CERS) would provide direct and easy-to-access rent and mortgage support directly to qualifying organizations.
Qualifying businesses, charities and non-profits would receive a subsidy of up to 65% of eligible expenses until December 19, 2020.
The rent subsidy would be provided directly to tenants, while also providing support to property owners.
The new rent subsidy would support businesses, charities, and non-profits that have suffered a revenue drop, by subsidizing a percentage of their expenses, on a sliding scale, up to a maximum of 65 percent of eligible expenses until December 19, 2020. Organizations would be able to make claims retroactively for the period that began September 27 and ends October 24, 2020.
Read More>>
NEW! Ontario’s Main Street Relief Grant: PPE Support
The Government of Ontario is helping small businesses with the unexpected costs of PPE.
Eligibility
To be eligible, your business must have two to nine employees and be in one of the following sectors:
- retail
- accommodation and food services
- repair and maintenance
- personal and laundry services
What you’ll get
Eligible small businesses will get one-time grants of up to $1,000.
Read More
NEW! Ontario’s Property Tax And Energy Bill Rebates
Businesses that were required to shut down or significantly restrict services due to provincial public health measures (in areas with modified Stage 2 restrictions or categorized as control or lockdown) can apply for rebates, provided in the form of grants, to help with their fixed costs.
Learn more
Canada Emergency Wage Subsidy: Gov pay up to 85% of salary: Extend to Dec 19, 2020
New Variable Subsidy:
Applications for claim period 5 (July 5 to August 1) will open August 17, 2020.
The Canada Emergency Wage Subsidy would apply at a rate of 75 per cent of the first $58,700 normally earned by employees – representing a benefit of up to $847 per week.
The program would be in place for a 40-week period, from March 15 to December 19, 2020** (July 17, 2020 Updated)
An eligible employer’s entitlement to this wage subsidy will be based entirely on the salary or wages actually paid to employees.
Stiff and severe penalties for those that take advantage of the system.
Employers are encouraged to rehire recently laid-off employees.
Interaction with 10 per cent Wage Subsidy
On March 18, 2020, the Prime Minister announced a temporary 10 per cent wage subsidy. For employers that are eligible for both the Canada Emergency Wage Subsidy and the 10 per cent wage subsidy for a period, any benefit from the 10 per cent wage subsidy for remuneration paid in a specific period would generally reduce the amount available to be claimed under the Canada Emergency Wage Subsidy in that same period.
Those organizations that do not qualify for the Canada Emergency Wage Subsidy may continue to qualify for the previously announced wage subsidy of 10 per cent of remuneration paid from March 18 to before June 20, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.
Eligibility
- Include employers of all sizes and across all sectors of the economy, with the exception of public sector entities.
- Employers include individuals, taxable corporations, and partnerships consisting of eligible employers as well as non‑profit organizations and registered charities.
- This subsidy would be available to eligible employers that see a drop of at least 15 per cent of their revenue in March 2020 and 30 per cent for the following months (see Eligible Periods)
- Employers must attest that they are doing everything that they can to pay the remaining 25%
- Employers have had a CRA payroll account on March 15, 2020
- Eligibility for the CEWS of an employee’s remuneration will be limited to employees that have not been without remuneration for more than 14 consecutive days in the eligibility period, i.e., from March 15 to April 11, from April 12 to May 9, and from May 10 to June 6
Eligible Periods:
Claiming period Required reduction in revenue Reference period for eligibility Period 1 March 15 to April 11 15% March 2020 over: March 2019 or Average of January and February 2020
Period 2 April 12 to May 9 30% April 2020 over: April 2019 or Average of January and February 2020
Period 3 May 10 to June 6 30% May 2020 over: May 2019 or Average of January and February 2020
Period 4 June 7 to July 4 30% June 2020 over: March 2019 or Average of January and February 2020
Period 5 July 5 to August 1 Any revenue decline in July 2020 July 2020 over: July 2019 or Average of January and February 2020
Period 6 August 2 to August 29 Any revenue decline in Aug 2020 Aug 2020 over: August 2019 or Average of January and February 2020
Period 7 August 30 to Sep 26 Any revenue decline in September 2020 Sep 2020 over: September 2019 or Average of January and February 2020
Period 8 Sep 27 to October 24 Any revenue decline in October 2020 Oct 2020 over: October 2019 or Average of January and February 2020
Period 9 October 25 to Nov21 Any revenue decline in November 2020 Nov 2020 over: November 2019 or Average of January and February 2020
Period 10 Nov 21 to Dec 19 Not available Yet Not available Yet
Base subsidy
| Qualifying Period | July 5 to August 1 | Aug 2 to Aug 29 | Aug 30 to Sep 26 | Sep27 to Oct 24 | Oct 25 to Nov 21 |
| Maximum base rate (requires at least 50% reduction in revenues) | 60% | 60% | 50% | 40% | 20% |
| Maximum base benefit per employee | $677.40 | $677.40 | $564.50 | $451.60 | $225.80 |
| Base rate for employers with revenue reduction of 0 to 49% | 1.2 x revenue drop | 1.2 x revenue drop | 1.0 x revenue drop | 0.8 x revenue drop | 0.4 x revenue drop |
Top-up subsidy
For wages paid from July 5 to November 21, 2020, an additional top-up subsidy of up to $282.25 per employee is available to employers who have been particularly hard-hit. Employers who experience a three-month average revenue reduction of more than 50% are eligible to receive the top-up subsidy. The top-up will equal 1.25 times the average revenue drop exceeding 50%, with a maximum top-up of 25% of remuneration paid (applies to remuneration of up to $1,129 per employee per week).
How to Apply
- Eligible employers would be able to apply for the Canada Emergency Wage Subsidy through the Canada Revenue Agency’s My Business Account portal as well as a web-based application.
- Alternatively, you may apply using a separate online application form (available April 27)
More Info
https://www.canada.ca/en/department-finance/economic-response-plan/wage-subsidy.html
Ontario Employer Health Tax: Exemption amount increased to $1 M
Employer Health Tax, the exemption amount increased from $490K to $1 M from January 1, 2020, to December 31, 2020.
The exemption will be back to $490K on January 1, 2021
How to Apply
No further action is needed
Business – Closed Programs
[Closed] CANADA UNITED SMALL BUSINESS RELIEF FUND: $5,000 for PPE
The new application window will be open on Monday, October 26, 2020.
They are no longer accepting applications for Ontario at this time as the application allotment has been reached.
The Canada United Small Business Relief Fund will help small Canadian businesses with their recovery efforts as a result of COVID-19. Successful applicants will receive a relief grant of up to $5,000. We intend to support local businesses of all kinds from across the country (from retailers to barbershops to farmers).
The relief grant can be used for any of the following eligible expenses:
- Purchased Personal Protective Equipment (PPE) such as masks, face shields, and latex gloves.
- Renovated physical space to adhere to local, Provincial or Federal reopening guidelines.
- Developed or improved e-commerce capabilities for your business.
Read More
[Closed] Canada Emergency Commercial Rent Assistance (CECRA): Rent Relief of 75% for Small Businesses
Under the latest extension, those who qualified during the original period will still be eligible for CECRA assistance without having to determine whether the 70-per-cent revenue decline continued in July, August or September.
This will be the final extension of this program as the government explores options to support small businesses as they face the ongoing challenges of the COVID-19 pandemic
The federal government is providing rent relief to businesses that can’t afford to pay their landlords at a time when their operations are seriously curtailed or shut down due to the COVID-19 pandemic.
Canada Emergency Commercial Rent Assistance (CECRA) will provide loans to cover up to 75 per cent of the rental cost through the Canada Mortgage and Housing Corp for April, May and June.
A portion of the loan will be non-repayable.
The Canada Emergency Commercial Rent Assistance for small businesses will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of three monthly rent payments payable by eligible small business tenants experiencing financial hardship during April, May and June.
Provinces and territories will cover up to 25 per cent of costs, subject to terms of agreements with Ottawa.
The loans will be forgiven if the mortgaged property owner agrees to reduce the eligible small business tenants’ rent by at least 75 per cent for the three corresponding months under a rent forgiveness agreement, which will include a pledge not to evict the tenant while the agreement is in place.
The small business tenant would cover the remainder, up to 25 per cent of the rent.
The July and August extensions are now available
- If you have previously been approved, you automatically qualify for the extensions and no additional documents are required. You must log into the portal and opt-in for your impacted tenants.
- If you haven’t yet applied for CECRA for small businesses, you must apply for July and August as part of your entire application.
Eligibility
- Small business tenants are those paying less than $50,000 per month in rent
- Who have temporarily ceased operations, or have experienced at least a 70-per-cent drop in pre-COVID-19 revenues.
- The program is also available to charities and non-profit organizations.
How to Apply
It is expected the new program will be available on May 25, 2020
Read More
Canada Emergency Commercial Rent Assistance (CECRA): Extend to Sep 2020
[Closed] GST and HST Payments Deferred: Payment Due June 30, 2020
The government allows businesses, including self-employed individuals, to defer until June 30, 2020 payments of the Goods and Services Tax / Harmonized Sales Tax (GST/HST), as well as customs duties owing on their imports.
The deferral will apply to GST/HST remittances for the February, March and April 2020 reporting periods for monthly filers; January 1, 2020, through March 31, 2020 reporting period for quarterly filers; and for annual filers, the amounts collected and owing for their previous fiscal year and instalments of GST/HST in respect of the filer’s current fiscal year.
How to Apply
No further action is needed
More Info
https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses
https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-filing-payment-dates.html
[Closed] WSIB Payment Deferred: Extended Payment Due Aug 31, 2020
All employers covered by the WSIB’s workplace insurance are automatically eligible for the financial relief package. This means that businesses can defer premium reporting and payments until August 31, 2020.
This premium deferral impacts businesses who report and pay monthly, quarterly or annually based on their insurable earnings.
Additionally, no interest will accrue on outstanding premium payments and no penalties will be charged during this six-month deferral period.
How to Apply
No further action is needed
[Closed] Business Credit Availability Program (BCAP): Postponement of payments for up to 6 months*
Working capital loans of up to $2 million with flexible repayment terms such as principal postponements for qualifying businesses
Postponement of payments for up to 6 months, free of charge, for existing BDC clients with total BDC loan commitment of $1 million or less
Reduced rates on new eligible loans
How to Apply
please contact your financial institution directly and it will contact BDC and EDC where appropriate.
BDC and EDC can also be contacted at the email addresses below.
Business Development Bank of Canada: info@BDC.ca
1-877-232-2269
Export Development Canada: BCAP@EDC.ca
1-800-229-0575
[Closed] Trust Income Tax: Extended Payment Due May 1, 2020
For trusts with a taxation year-end of December 31, 2019, the filing due date of March 31, 2020, will be extended to May 1, 2020
All trusts that have an upcoming income tax balance due date or an income tax instalment payment due date before September 1, 2020, will have their payment due date effectively extended to September 1, 2020
How to Apply
No further action is needed
More Info
https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-filing-payment-dates.html
[Closed] Ontario Business-Related Tax: Extended Payment Due Aug. 31, 2020
Fiscal year giving owners up to five months – Aug. 31, 2020 – to pay their provincial taxes.
The exemptions would apply to: Employer Health tax; Tobacco tax; Fuel tax; Gas tax; Beer, Wine and Spirits tax; Mining tax; Insurance Premium tax; International Fuel Tax and the Race Tracks tax
How to Apply
No further action is needed
[Closed] Canada Summer Jobs program: 100% Wage Subsidy
Canada Summer Jobs is an initiative of the Youth Employment and Skills Strategy, which aims to provide flexible and holistic services to support all young Canadians develop the skills and gain paid work experience to successfully transition in the labour market.
New Update due to COVID-19
- an increase to the wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee
- an extension to the end date for employment to February 28, 2021
But Employers need to meet the eligibility to do so.
The Canada Summer Jobs call for applications for the 2020 season closed on February 28, 2020. In response to the economic impacts created by the COVID-19 situation, Government would identify organizations that provide essential services in the community and could provide youth jobs but did not apply for the Canada Summer Jobs program in 2020.
