Category Archives: 2020 Only

CEBA extended to October 31st. Expanded to include more businesses.

    On August 31st, Deputy Prime Minister and Minister of Finance Chrystia Freeland announced the extension of the Canada Emergency Business Account (CEBA) to October 31st, 2020. This will give small businesses 2 additional months to apply for the $40,000 loan.

    In addition, the Federal Government said it was working with financial institutions to make the CEBA program available to those with qualifying payroll or non-deferrable expenses that have so far been unable to apply due to not operating from a business banking account.

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    Details of the EXPANDED Canada Emergency Wage Subsidy

      On August 11th, the Government of Canada updated the calculator and Canada.ca with the changes to the Canada Emergency Wage Subsidy (CEWS).

      If you’re a business owner who has suffered losses as a result of COVID-19 and did NOT qualify previously for CEWS, you may now qualify.

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      Expanded eligibility for CEBA $40,000 interest-free loan

        The Prime Minister outlined the expanded eligibility for the Canada Emergency Business Account and highlighted companies such as hair salon owners, independent gym owners with contracted trainers and local physio businesses will now be eligible.

        “If you are the sole owner-operator of a business, if your business relies on contractors, or if you have a family-owned business and you pay employees through dividends, you will now qualify.” – PM Justin Trudeau

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        $1,000 BC Emergency Benefit for Workers applications start May 1st

          On May 1st, the BC Government will start taking applications online for the BC Emergency Benefit for Workers. Telephone applications will start on May 4th but it is strongly recommended that you apply online as they anticipate high call volumes. This benefit provides a one time payment of $1,000 to residents of BC whose ability to work has been affected due to COVID-19.

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          Canada Emergency Student Benefit: Students will be eligible for $1,250 a month from May through August

            Great news for students worried about financially making ends meet. Prime Minister Justin Trudeau announced the Canada Emergency Student Benefit which provides $1,250/month from May through August or $1,750/month for those taking care of someone else or have a disability.

            For students looking to volunteer to help fight COVID-19, the Canada Student Service Grant provides $1,000 to $5,000

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