Since the start of the COVID-19 pandemic, we have been overwhelmed with lots of new information regarding the available financial relief for individuals and businesses.  There have been updates on a regular basis.  To help you keep up with all these, we have listed all the updates per week below:Week of August 31, 2020:1.  Extension of the Canada Emergency Business Account (CEBA): The CEBA application deadline is extended from August 31 to October 31, 2020. 2.  Extension of the Business Credit Availability Program (BCAP): The BCAP is extended to June 2021. 3.  Eligibility for the Canada Emergency Business Account (CEBA): The Federal...

KD has started a video series to help business owners know more about the financial relief options available to them.  Please click on the link below to get started! And don't forget to subscribe as we will be uploading new videos every week! KD Business Tips YouTube ChannelLinks to our new videos here: CRA Filing Extensions and Penalty & Interest ReliefUpdates on the Canada Emergency Response Benefit (CERB)What is the Canada Emergency Commercial Rent Assistance (CECRA)?What is the Large Employer Emergency Financing Facility (“LEEFF”)?COVID 19 Financial Support for Rural Businesses in Western Canada: Community Futures Stream, Part 2COVID 19 Financial Support for Rural...

On April 27, 2020, the CRA has launched the application process for the Canada Emergency Wage Subsidy. The CRA is the agency administering the CEWS on behalf of the federal government. Employers can now apply for the CEWS through My Business Account or through the CRA’s online application portal. Their representatives can also apply through Represent a Client. What happens after your application? Once your claim is approved through the CRA’s automated verification process, payment will be sent on May 5th. Payments made through direct deposit will then start to appear in the employer’s account by May 7th. Note that some...

Update (week of  September 8, 2020):  The Government announced that it is extending the CECRA by  another month to help small businesses pay rent for September. Application has also been extended to accomodate this extension.1. What is the Canada Emergency Commercial Rent Assistance (CECRA)? The CECRA is a program for small businesses affected by the COVID 19 pandemic. This program will lower rent paid by these small businesses by 75%.2. Who are eligible? As mentioned, the CECRA is for small businesses affected by COVID 19. These small businesses will be eligible if they are paying less than $50,000 per month in rent...