We have a further update to the programs put in place by the federal government to ease the economic and social effects of the COVID-19 pandemic. We will keep you advised as more information becomes available.
Canada Emergency Business Account (CEBA) – Expanded
Qualification has expanded – the organization will need to demonstrate they paid between $20,000 to $1.5 Million in total payroll in 2019. The previously qualification level was between $50,000 to $1 Million.
Canada Emergency Responsive Benefit (CERB)
Expanded the program to allow some employment/self-employment income:
- First claim, you cannot have earned more than $1,000 in employment and/or self-employment income for 14 or more consecutive days within the four-week benefit period of your claim.
- When submitting subsequent claims, you cannot have earned more than $1,000 in employment and/or self-employment income for the entire four-week benefit period of your new claim.
Canada Emergency Commercial Rent Assistance (CECRA) for small businesses
- No formal details yet – the intent is to provide loans (including forgivable loans) to commercial property owners who will lower or forgo the rent of small businesses for the months of April, May and June.
Canada Emergency Wage Subsidy (CEWS) – when can you apply?
- Applications are not open yet.
- Application will be through My CRA business account or a specialized CRA portal.
- One news outlet has reported that the applications will start April 27th, but there is no confirmation yet from CRA.