Welcome to Scan Consulting Group
Yelp
+1 905 829 3453 (905 tax file)
ON L7L 0E4, Canada
Scan Consulting GroupScan Consulting GroupScan Consulting Group

Business Hub

SCAN CONSULTING GROUP COVID 19 UPDATE

As the COVID-19 pandemic is constantly evolving, so are we. Many of our valued clients are facing hardships during this time and we aim to do everything we can to support them and their small businesses.
Scan Consulting Group is committed to providing support and information to our clients and community regarding government updates and programs for small businesses. Additionally, we will continue to offer all our regular services and are maintaining a focus on helping our clients succeed now and in the future.

Providing complimentary consultations with our highly experienced business consultants, we can make improvements to your financial situation that will help your business succeed. We aim to ensure that our clients and community have up to date information that is easily accessible.
From all of us here at Scan Consulting Group, we thank you for your continued support. We are available to you — do not hesitate to ask us how we can help you.

AS OF AUGUST
16TH, 2020

840,270

total approved applicants

AND

$27.53 BILLION

in subsidies paid

CANADA EMERGENCY WAGE SUBSIDY (CEWS)

Services Currently Offered

To support the various needs of our clients, we are continuing to provide all of our services during this time. We have added additional support for COVID-19 impacted businesses.

COVID-19 support options include:

Customer Impact

Currently, the world is facing a variety of challenges and many of our clients are facing their own unique set of struggles as small business owners. With difficulties paying rent and struggling to pay wages, it can be upsetting and lonely, but these are situations that small business owners are facing together. We, at Scan Consulting Group, plan on doing everything we can to support our clients, their businesses and our community.  
Providing free guidance and consultations can help our clients stay on their feet during these uncertain times. Contact us with inquiries and don’t forget to look at our free Small Business Guide to Navigating COVID-19!
COVID-19

Emergency Benefit Eligibility Tool

Disclaimer: The information contained within this tool is provided for information purposes only and is not intended to substitute for obtaining accounting, tax, or financial advice from a professional and designated accountant.

Which of the following describes your case:

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


YesNoDon't know

YesNoDon't know

Facing Difficulties in Paying Your EmployeesWorking Capital ProblemsRequire flexibility in paying CRA dues

Business Closure & LayoffMedical Reasons

Medical ReasonsBusiness Reduction

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).

Visit Link

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.



The personal information you include in an inquiry may be used to prepare a reply.When communicating via e-mail, personal information will transit via Microsoft’s Office 365 platform, which handles and stores information on behalf of Scan Consulting Group. Please note that this information may be handled and/or stored outside Canada in accordance with the policies of such service providers, which are available at the following link(s): https://www.microsoft.com/online/legal/v2/?langid=en-us&docid=30;https://www.microsoft.com/en-us/privacystatement/EnterpriseDev/default.aspx.The transmission of this information is not secure so sensitive personal information, such as your Social Insurance Number, should not be included in your message.

Timeline

New information about COVID-19 is coming out every day, making it difficult to make decisions for the future. Our services have remained the same, but as the current situation changes evolves, we will be keeping our community and clients up to date with adjustments.

Scan Consulting Group is committed to the safety of our clients, employees and greater community and we will continue to proceed with the proper safety measures in accordance with public health guidelines on COVID 19.

Start

11 March, 2020

COVID-19 declared a pandemic, federal government announced a COVID-19 Response Fund

18 March, 2020

Emergency Care Benefit and the Emergency Support Benefit

27 March, 2020

CEWS was announced

9th April, 2020

CEBA launched

22 April, 2020

CESB announced

13 May, 2020

Regional Relief and Recovery Fund

25 January, 2020

Canada confirmed its first COVID-19 case

13 March, 2020

BCAP Announced beginning of April

25 March, 2020

CERB was initially announced

27 March, 2020

CEBA announced

11th April, 2020

CEWS launched

24 April, 2020

CECRA announced

25 May, 2020

Application portal for CECRA opened
New information about COVID-19 is coming out every day, making it difficult to make decisions for the future. Our services have remained the same, but as the current situation changes evolves, we will be keeping our community and clients up to date with adjustments.