Covid-19

COVID-19 FINANCIAL IMPACT REPORT – FEBRUARY 15, 2021

HASCAP Loan, T4 Reporting, Home Office Use, Vehicle Benefits Highly Affected Sectors Credit Availability Program (HASCAP) HASCAP is a new loan program intended to assist the hardest hit businesses from all sectors via access to government guaranteed additional financing. Proceeds of the loan are meant to exclusively fund operational cashflow needs of the business and …

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COVID-19 FINANCIAL IMPACT REPORT – DECEMBER 11, 2020

Expanded Support Programs and upcoming deadlines There have been many government programs that we have kept you abreast of during this year that have application deadlines approaching, have had recent announcements of program extension, or application portals opened. The following update will assist you in assessing these changes and ensuring that you have considered these …

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COVID-19 FINANCIAL IMPACT REPORT – DECEMBER 6, 2020

CANADIAN EMERGENCY WAGE SUBSIDY (CEWS) – NEW RULES ANNOUNCED FOR EXTENDED JULY TO DECEMBER SUBSIDY PERIODS The federal government has announced the proposed program extension and new details of the extended CEWS program.  Effective July 5th (Period 5), 2020 the CEWS for active employees will now consist of two parts. A baseline subsidy will be available to all employers …

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COVID-19 FINANCIAL IMPACT REPORT – NOVEMBER 2, 2020

Newfoundland and Labrador Small Business Assistance Program In its 2020 budget, the Government of Newfoundland and Labrador unveiled the new Small Business Assistance Program to provide financial support to eligible small businesses and non-profit community organizations that have been impacted by the COVID-19 pandemic.   The assistance is in the form of a one-time non-repayable …

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COVID-19 FINANCIAL IMPACT REPORT – OCTOBER 15, 2020

EXPANDED SUPPORT PROGRAMS On October 9, 2020 the government of Canada announced changes to existing programs and the addition of a new rent subsidy program to expand support to businesses impacted by COVID-19. Canada Emergency Wage Subsidy (CEWS) The government had previously announced that the CEWS would be extended to June 2021.  On October 9th the …

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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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