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The Government of Canada recently announced the launch of the Canada Emergency Business Account (CEBA). The CEBA will be implemented through eligible financial institutions which we expect will include most commercial banks in Canada. Some banks have already started releasing details on the application process so please contact your financial institution for more details on…

On April 21, 2020, Wilkinson & Company hosted a webinar discussing a number of implications related to the Economic Response measures to COVID-19 that have recently been implemented by the government of Canada. The webinar can be viewed at the following link: https://zoom.us/rec/share/yZQvKLrq-mVJRJ336H7RBJAoIY7VT6a803UZ-_dYmEywaodIz7yIQazOFvGVXap8 Password: 9o$26H8Q The amount of information on the economic response programs recently…

The purpose of this communication is to update you on expected changes to the Canada Emergency Response Benefit (CERB). The CERB was introduced in March to assist those individuals who had ceased working in relation to COVID-19. The original legislation had requirements that may have been restricting access to the benefit in certain circumstances. In…

This communication is intended to provide you with information about the programs that are currently available for qualifying businesses, to ensure they have access to credit as needed during the COVID-19 pandemic. BDC and EDC Financing for Small and Medium-Sized Enterprises In addition to the Canada Emergency Business Account, the Business Credit Availability Program (BCAP) also includes other…

We are contacting you today to provide information about how you can apply for an online account with the Canada Revenue Agency. One of the methods to apply for both the Canada Emergency Response Benefit (CERB) and the Canada Emergency Wage Subsidy (CEWS) will be by way of CRA’s online accounts. As such you may…

In our previous update we identified several concerns and unanswered questions about the Canada Emergency Wage Subsidy (CEWS).  That update can be found HERE. Very briefly, the CEWS is wage subsidy of up to 75% of wages for Canadian employers that have seen a drop of 15% in arm’s length revenue in the month of March, or…

The last few weeks have been a challenge for individuals and businesses, and we have been following the continuously evolving economic action plans being released by the Government to help Canadians that may be struggling financially as a result of the COVID-19 pandemic. In an effort to consolidate the information on programs and relief being offered,…

We are contacting you today to update you on the 75% enhanced Canada Emergency Wage Subsidy (CEWS) now that more details have been made available. “Briefly, the enhanced wage subsidy is available to employers that have suffered a 15% decrease in revenue in March, or a 30% decrease in revenue in April or May 2020.”   The…

As registration for the Canadian Emergency Response Benefit (CERB) begins today for some individuals, we are providing this summary of frequently asked questions for your convenience to summarize some of our previous discussions and highlight recent developments in relation to this program. What is the Canadian Emergency Response Benefit (CERB)? Temporary income support being offered…

We are contacting you today to update you on the federal government’s April 1st announcements to provide details on the enhanced wage subsidy and the application process for the Canada Emergency Response Benefit (CERB).  Yesterday, Prime Minister Trudeau indicated that the total cost of these two programs will exceed $80 billion.   CANADA EMERGENCY WAGE SUBSIDY PROGRAM In…