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The Canada Emergency Rent Subsidy (“CERS”) helps businesses pay for rent, property taxes, mortgage rent, and insurance for premises used to operate their business. The name of the subsidy is a bit deceiving. It’s more than just a rent subsidy. It also helps business owners who own their property by subsidizing mortgage interest, property taxes […]

The new rent subsidy would be available retroactive to September 27, 2020, until June 2021. The rent subsidy mirrors CEWS. Unlike the old rent subsidy, the new rent subsidy would provide benefits directly to renters and property owners, without landlords being involved. How Much Subsidy Can I Get? You get a percentage of your Eligible

The government introduced Bill C-9 to introduce updates to CEWS 2.0. The updates are not too substantial. We highlight the 5 key updates you should be aware of. 1. November and December 2020 Base Subsidy Increased to 40% or 0.8 x Revenue Drop Under CEWS 2.0, November 2020 (October 25, 2020 to November 21, 2020)

Today, Julie Payette, the Governor-General of Canada, opened the new session of Parliament with the throne speech. The following is a summary of some of the proposed tax measures that were discussed. Tax Measures Targeted at High-Net worth Individuals The Government proposes to identify additional ways to tax extreme wealth inequality, including by concluding work

CEWS 2.0 Good News for Business Owners Who Pay Themselves a Salary CEWS 2.0 brings welcoming news for owner-managers. Business owners who pay themselves a salary and who didn’t qualify under the old rules may now qualify for CEWS. They can even revisit their CEWS calculation in previous periods (March, April, May, and June) and

Please check out our comprehensive e-learning video where we outline 10 things you need to know about CEWS 2.0 which received Royal Assent on July 27, 2020. CEWS 2.0, which runs from July to December, is more complicated than CEWS 1.0, which covered March, April, May, and June. Yet, there are more opportunities to qualify

On July 17, 2020, the Government of Canada announced significant changes to the Canada Emergency Wage Subsidy (“CEWS”) program. This is good news. The updated rules allow more businesses to qualify, even when revenue decline is less than 30%. Please refer to the examples where we highlight real-life scenarios and show how your business may

The Government of Canada will extend the Canada Emergency Wage Subsidy (CEWS) by an additional 12 weeks to August 29, 2020. Initially, the CEWS was only available until June 6, 2020. What does the CEWS extension mean for my business? As provinces ease restrictions, businesses that are starting to reopen at a smaller scale than

Two-Step Calculator to Estimate Your Wage Subsidy! Download our calculator and see how much you can get back!

On Saturday, April 11, 2020, parliament held a rare weekend debate to pass Bill C-14, a bill containing legislation for the proposed Canada Emergency Wage Subsidy (“CEWS”). The government chose to enact  CEWS by adding section 125.7 to the Income Tax Act (“Act”). As we will see in this commentary, this was the right decision.