Insights

By far the largest support program for eligible businesses is the Canada Emergency Wage Subsidy (CEWS). The program provides a subsidy of 75% of wages to a maximum of $847/week. To be eligible: March – revenue must be down 15% versus March 2019 OR 15% versus the average of Jan/Feb 2020. April and May – […]

To date, we have focused our attention mainly on the available federal programs that provide support for small businesses.However, the Ontario government has also announced several programs designed to help our business community navigate COVID-19. There are two in particular that most creative firms will benefit from including a one-time increase to EHT thresholds and […]

Today we’re focusing on programs that will help protect your short-term cash flow so that you can continue to operate your business.  As part of the COVID-19 Economic Action Plan, the government has provided businesses with delayed and deferred payment options for income tax, and GST/HST remittances. Outlined below are the new deadlines and program […]

Next up in our series of COVID-19 related relief is access to much needed credit to help manage your businesses cashflow during this time of uncertainty.   Canada Emergency Business Account (CEBA): What is it? Up to $40,000 in interest free financing (until December 31, 2022) to help your business pay for costs that you were […]

At Finally CPA, this week is all about relief and resources for our business community as we continue to navigate through the resources available for businesses as a result of COVID-19. First up, we’ll look at the Canada Emergency Wage Subsidy (CEWS).  This information is accurate as of April 9th. We will update this post […]