Which of the following describes your case:

Employed and/or Recently EmployedSelf-Employed and/or ContractorsSmall Business

Regular EI Benefits

*Taxable payments of the lowest of $573 or 55% of average weekly earnings

*Payments last for 14 to 45 weeks

*Applications can be made on the following link Visit Link

EI Sickness Benefits

*Taxable payments of the lowest of $573 or 55% of average weekly earnings

*Payments last for maximum of 15 weeks

*A doctor's note is required upon completion of 2 weeks

*A waiting period of 1 week is waived

*Taxable payments of the lowest of $573 or 55% of average weekly earnings

*Applications can be made on the following link Visit Link

EI Sickness Benefits

*Taxable payments of the lowest of $573 or 55% of average weekly earnings

*Payments last for maximum of 15 weeks

*A doctor's note is required upon completion of 2 weeks

*A waiting period of 1 week is waived

*Taxable payments of the lowest of $573 or 55% of average weekly earnings

*Applications can be made on the following link Visit Link

Canada Emergency Response Benefit (CERB)

* Taxable $2,000 monthly payment for up to 4 months

* Loss of income due to sickness, quarantine, job loss,
taking care of a sick family member or a child who is sick or home from school/daycare

* Canadian Residents of over 14 years are eligible

* Those who earned $5000 in 2019 or 12 months before applying

* Applications can be completed on CRA MyAccount, My Service Canada Account and by telephone (TBA)

* Payments begin within 10 days of submitting applications, an attestation will be required before funds are received, no income verification required

* Those who are EI qualified or have applied by 15 March, will be automatically enrolled for CERB

* EI recipients may be eligible for EI after CERB benefits run out

You may be entitled to Employment Insurance (EI) regular benefits if:

* You were employed in insurable employment

* You lost your job through no fault of your own

* You have been without work and without pay for at least seven consecutive days in the last 52 weeks

* You 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

* You are ready, willing and capable of working each day

* You are actively looking for work (you must keep a written record of employers you contact, including when you contacted them).

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Other benefits (Support for individuals and families)

*Increasing the Canada Child Benefit

*Special Goods and Services Tax credit payment

*Extra time to file income tax returns

*Mortgage payment deferral

*Temporary wage top-up for low-income essential workers

Click link below for complete information of each benefit Visit Link

Facing Difficulties in Paying Your Employees

The Canada Emergency Wage Subsidy (CEWS)

*This covers 75% of an employee's wages – up to $847 per week - for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15% in March, and 30% in April and May.

*The program is in place for a 12-week period, from March 15 to June 6, 2020.

*Employers of all sizes and across all sectors of the economy are eligible with the exception of public sector entities.

*Eligible employers can access the subsidy by applying through a Canada Revenue Agency online portal.

Extension of Work-Sharing program

*The maximum duration of the Work-Sharing program has been increased from 38 to 76 weeks

*The Work-Sharing program is offered to workers who agree to reduce their normal working hours because of developments beyond the control of their employers.

Temporary 10% Wage Subsidy

This is a three-month measure that allows eligible employers to reduce the amount of payroll deduction required to be remitted to the Canada Revenue Agency (CRA)

You are an eligible employer if you:

*are an individual, partnership. non-profit organization, registered charity, or
Canadian-controlled private corporation eligible for the small business deduction

*have an existing business number and payroll program account with the CRA on March 18, 2020

*pay salary, wages, bonuses, or other remuneration to an eligible employee.

Click below for more information Visit Link

Working Capital Challenges

Business Credit Availability Program (BCAP)

* $40 billion of additional support through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC)

* BDC and EDC are working with private sector lenders to coordinate on credit solutions for individual businesses, including in sectors such as oil and gas, air transportation, exports and tourism.

* EDC is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to $6.25 million to SMEs

* BDC is working with financial institutions to co-lend term loans to SMEs for their operational cash flow requirements.

The program offers differing maximum finance amounts based on business revenues.
Financed amount:

- 80 % provided by BDC

- 20 % provided by your financial institution

- This support is available until or before September 30, 2020.

Canada Emergency Business Account (CEBA)

* Interest-free loans of up to $40,000 to qualifying small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.

* To qualify, these organizations will need to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019.

Canada Emergency Commercial Rent Assistance (CECRA)

* This program will lower rent by 75 per cent for small businesses that have been affected by COVID-19.

* It will provide forgivable loans to qualifying commercial property owners to cover 50% of three monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship during April, May, and June.

* The loans will be forgiven if the mortgaged property owner agrees to reduce the tenants’ rent by at least 75% under a rent forgiveness agreement, which will include a term not to evict the tenant while the agreement is in place. The small business tenant would cover the remainder, up to 25% of the rent.

* Impacted small business tenants are businesses paying less than $50,000 per month in rent and who have temporarily ceased operations or have experienced at least a 70% drop in pre-COVID revenues.

Click below for more information Visit Link

Require Flexibility in Paying CRA dues

More time to pay income taxes

*All businesses are allowed to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020.

*This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act.

*No interest or penalties will accumulate on these amounts during this period.

Deferral of Sales Tax Remittance and Customs Duty Payments

*Businesses and self-employed individuals are allowed 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.

*Any GST/HST payment that becomes owing from March 27 until the end of May can be deferred until the end of June.

*For GST and customs duty payments for imported goods, deferral will include amounts owing for March, April and May.

Click below for more information Visit Link

If you require assistance in completing the applications or navigating through CRA relief programs, please submit your email so that our staff can assist you.

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