The Federal Government released the Fall Economic Statement 2020 on November 30, 2020. Here are the highlights of the Fall Economic Statement 2020:• The deficit is expected to reach $381.6 billion in 2020-21. In the next 2 years, the deficit is expected to fall to $121.2 billion in 2021-22 and to $50.7 billion in 2022-23. • The Federal Government plans to invest up to $100 billion over three years to jumpstart our economic recovery once the virus in under control. • The Federal Government will increase funding to provinces that are facing a year-over-year decline in non-resource revenues through the Fiscal...

The rules of the CEWS have been modified for periods 5 (July 5, 2020 to August 1, 2020) to 10 (November 22, 2020 and ends on December 19, 2020) with transitional rules available for periods 5 and 6. For periods 5 to 10 (starting July 5 to December 19, 2020), the CEWS has been adjusted to allow access to all eligible employers that have experienced a decline in revenue for a claim period, with a base wage subsidy amount and an additional top-up wage subsidy amount for those employers that have been adversely affected by the pandemic. Also, for periods 5...

UPDATE:  Starting November 23, 2020, businesses can start applying for the CERS.  For more information, please go to the official CERS page, https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-rent-subsidy.html  The Federal Government has announced the details of the Canada Emergency Rent Subsidy that will apply to its first 12 weeks of implementation (until December 19, 2020). Note that this new rent subsidy is available retroactive to September 27, 2020 until June 2021. The Canada Emergency Rent Subsidy (CERS) is a new program that would provide benefits directly to qualifying renters and property owners without the participation of landlords. Eligible organizations that have suffered a revenue drop would be...

As we continue to deal with the COVID-19 pandemic, we want to remind everyone to be extra cautious of potential COVID-19 related scams and other cybercrimes involving websites, emails, texts and calls. Scammers and fraudsters are constantly looking for new ways to take advantage of the pandemic so we must all remain vigilant! One of the many ways to protect yourself from COVID-19 scams is to know what and how scams are done at this time. Most fraudsters pose as representatives of reputable and legitimate sources or organizations such as the government or banks. Here are some of the organizations that...