The importance of a business continuity plan
A few months ago, a devastating fire broke out in a building near one of our offices. Concerned by the situation, we looked at our business continuity plan to make sure it was up to date. Do you have such a tool for dealing with emergencies? With the COVID-19 pandemic, companies had to adapt quickly […]
CUEC – Emergency loan repayment for Canadian companies
IMPORTANT REMINDER: Emergency loan repayment for Canadian businesses (CUEC loan) Companies with a Canadian government CUEC loan of $40,000 or $60,000 have until January 18, 2024 to repay an amount of $30,000 or $40,000 and benefit from a rebate (subsidy) of $10,000 for a $40,000 loan or $20,000 for a $60,000 loan granted by the […]
Anticipate your CUEC repayment!
Many of you requested and received assistance from various levels of government during the pandemic. While some assistance, such as the Canada Emergency Wage Subsidy (CESS), was non-refundable, this is not the case for all programs. Some of them now represent a debt on your company’s balance sheet, and you’ll have to make sure that […]
Canada’s Emergency Wage Subsidy extended to September 25, 2021
The government introduced the Canada Emergency Wage Subsidy to prevent further job losses and encourage employers to quickly rehire workers already laid off as a result of COVID-19. The measure provides eligible employers who have experienced a drop in revenues with a wage subsidy for eligible compensation paid to their employees. Support for active employees […]
Corporate tax returns: what to do with federal assistance received in 2020?
Federal grants for COVID-19 pandemic must be included in company tax return Contractors had access to several federal government programs in 2020 to help them through the COVID-19 pandemic. The amounts received will now have to be taken into account when the time comes to file the company’s income tax return. How do you find […]
COVID-19 – Additional aid to support businesses
The Minister of the Economy and Innovation, Mr. Pierre Fitzgibbon, has announced additional measures to the Aide aux entreprises en régions en alerte maximale (AERAM) to further alleviate the difficulties encountered by businesses as a result of the recent tightening of health regulations. The following adjustments are now in effect for companies subject to a […]
Extension of the Emergency Account for Canadian Business (EACB)
Applicants now have until June 30, 2021 to apply to their financial institution for a $60,000 CUEC loan or a $20,000 top-up. CUEC requirements and deadlines As of December 4, 2020 , hard-hit small businesses and non-profits may be eligible for an additional $20,000 on the $40, 000 CUEC loan already available. Applicants requesting status […]
Tax 2020: new flexibility measures
Citizens who have received assistance in connection with COVID-19 will not have to pay interest on their 2020 tax balance for a period of one year. This measure is designed to simplify life for those who have been affected by the pandemic. More specifically, citizens who received the Canada Emergency Benefit (CEP), the Canada Student […]
Covid-19 – Additional support for companies
The Minister of the Economy and Innovation, Mr. Pierre Fitzgibbon, announced on Wednesday, February 3, 2021, that business owners who were subject to a closure order in the context of the Covid-19 pandemic will be able to obtain reimbursement of their fixed costs during the restart period. This additional assistance represents the equivalent of one […]
Launch of the Credit Program for Highly Affected Sectors (PCSTT)
The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, has announced the launch of the Highly Affected Sectors Credit Program (HASSCP). This program, which was introduced as part of the Fall 2020 Economic Statement, will provide financial support to businesses that have been hardest hit by the COVID-19 pandemic. Canadian companies […]