Month: April 2020

COVID-19 IMPACT ON BUSINESS – APRIL 25, 2020

CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE  (CECRA) The Federal Government has announced more details on the Canada Emergency Commercial Rent Assistance (CECRA) program following an agreement in principle regarding funding with all provinces and territories.  While more details are yet to come, here is what we know so far. Commercial landlords who qualify under the program will be eligible for forgivable loans that will cover 50% of eligible …

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COVID-19 IMPACT ON BUSINESS – APRIL 17, 2020

CANADA EMERGENCY WAGE SUBSIDY (CEWS) PROGRAM The passing of the CEWS legislation and recent announcements and clarifications as well as some tips to keep in mind of note are: If an employer has qualified for the CEWS for one claiming period, they will automatically qualify for the immediately following claiming period.  For example, if an …

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COVID-19 IMPACT ON BUSINESS – APRIL 9, 2020

CEWS – NEW CRITERIA WILL HELP MORE SMALL BUSINESSES QUALIFY On April 8th, there were significant changes announced to the Canada Emergency Wage Subsidy (“CEWS”).  Prior to this announcement, to qualify for the CEWS, businesses had to demonstrate that their revenue for the months of March, April and May 2020 had decreased by at least 30% from the same months in the prior year.   The most significant change is that the decrease in revenue requirement of …

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COVID-19 IMPACT ON BUSINESS – APRIL 6, 2020

The PDF COVID-19 Wage Subsidies – Are you Eligible? (also available on our website Info Centre) is a summary intended to help simplify the information regarding the two separate wage subsidy programs that the Federal government has announced. These subsidies are: The 10% Temporary Wage Subsidy; and The 75% Canadian Emergency Wage Subsidy (CEWS). The 10% Temporary Wage …

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COVID-19 IMPACT ON BUSINESS – APRIL 1, 2020

CANADIAN EMERGENCY WAGE SUBSIDY (CEWS) On Monday March 30th we updated you with respect to the CEWS benefit available to employers. Today, the Federal government announced additional details with respect to the CEWS program.   As they say, the devil will be in the details, so we expect additional clarifications to come regarding this subsidy program over the coming days and weeks. The following is a recap …

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