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Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now
/in Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, corporate, disability, Financial Planning, rdsp, tax /by Accureta Wealth ManagementFinance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:
• Corporate Tax Changes, including extensions to subsidy programs.
• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.
• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.
For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.
Applications for the new Canada Emergency Rent Subsidy starts today!
/in Blog, Coronavirus, Coronavirus - Practice Owners /by Accureta Wealth ManagementThe new Canada Emergency Rent Subsidy is open for applications today! Unlike the previous program, this subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.
CERS covers up to 65% of rent for businesses, charities and non-profits impacted by COVID-19.
An additional 25% Lockdown Support is available during a public health lockdown order.
Applications for Canada Recovery Benefit now open!
/in 2020, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners /by Accureta Wealth ManagementThe Canada Recovery Benefit (CRB) is now open for applications.
If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period.
If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.