Month: September 2020

COVID-19 FINANCIAL IMPACT UPDATE – SEPTEMBER 29, 2020

We have previously advised of extensions to payment deadlines for individuals and corporations as announced by CRA in July. Clients should note that the payment extension deadline ends September 30, 2020. Clients are advised to make payments to avoid interest and penalty charges. Below please find the details of the announced extensions as provided in our …

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COVID-19 FINANCIAL IMPACT UPDATE – SEPTEMBER 1, 2020

APPLICATION DEADLINE EXTENSIONS FOR CEBA AND BCAP LOANS On August 31, 2020, the Federal Department of Finance announced it has extended the loan application deadlines for the Canada Emergency Business Account (“CEBA”) and the Business Credit Availability Program (“BCAP”).  The CEBA program, which provides loans up to $40,000 with 25% forgiveness if paid by December 31, 2022, now has an application deadline of October 31, 2020.  The BCAP loan application program deadline is now …

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