COVID-19 Resources – Updated 20 May 2020

As your business advisor, we are committed to helping our clients navigate the impact of COVID-19 to save you time and help your business through the crisis.

Program Information

The federal government has announced several economic measures to assist employers and their employees as a response to the COVID-19 pandemic.

Business Resources

Canada Emergency Wage Subsidy (CEWS)

The Canada Emergency Wage Subsidy (CEWS) was announced on March 27, 2020 to provide eligible employers a 75% wage subsidy for up to 12 weeks, retroactive to March 15, 2020. Important update: CEWS has been extended until December 2020.

KWB’s David Wickenberg and Heather Bowie discuss CEWS and other benefit programs in this TVYOU interview:

Temporary Wage Subsidy

The 10% Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). The subsidy is equal to 10% of the remuneration you pay from March 18, 2020 to June 19, 2020, up to $1,375 for each eligible employee to a maximum of $25,000 total per employer.

Canada Emergency Business Account

Eligible businesses will receive a $40,000 interest free loan for immediate financial support to cover short term operating expenses, payroll and other non-deferrable expenses which are critical to sustain business continuity.

Canada Emergency Commercial Rent Assistance

The program is administered through CMHC to provide rent relief for small businesses struggling to pay their landlords due to financial hardship as a result of COVID-19 for the months of April, May and June 2020. 

Work-Sharing Program

Work-Sharing (WS) is an adjustment program designed to help employers and employees avoid layoffs when there is a temporary reduction in the normal level of business activity that is beyond the control of the employer. The measure provides income support to employees eligible for Employment Insurance benefits who work a temporarily reduced work week while their employer recovers.

Canada Summer Job Programs

The Government of Canada has announced temporary changes to the Canada Summer Jobs Program (CSJP). Now, employers who hire summer students can apply for a subsidy of up to 100 per cent of the provincial or territorial hourly minimum wage.

Income Tax Filing and Payment Deferrals

Corporations are able to defer, the payment of any income tax amounts and income tax filing deadlines have been extended. This relief would apply to tax balances due, as well as instalments. No interest or penalties will accumulate on these amounts during this period. 

GST/HST Payment Deferrals

Corporations are able to defer, the payment of GST installments or payments due. Filing deadlines remain the same. No interest or penalties will accumulate on these amounts during this period. 

Personal

Canadian Emergency Response Benefit

The Canada Emergency Response Benefit (CERB) was established to prove $2,000 per month (i.e. $500 per week) to workers who qualify for the benefit for up to 16 weeks.

Canada Emergency Student Benefit

The Canada Emergency Student Benefit (CESB) provides financial support to post-secondary students, and recent post-secondary and high school graduates who are unable to find work due to COVID-19.

Income Tax Filing and Payment Deferrals

Individuals are able to defer, the payment of any income tax amounts and income tax filing deadlines have been extended. This relief would apply to tax balances due, as well as instalments. No interest or penalties will accumulate on these amounts during this period. 

Where to go for additional information

World Health Organization (WHO)

Government of Canada – Economic Response Plan

Business Development Bank of Canada

Economic Development Canada

Blog posts about COVID-19 Resources – Updated 20 May 2020

Mar 2 2021
CRA Offers Interest Relief on COVID Benefits

The Canada Revenue Agency (CRA) recently announced that they are offering relief on the interest charged on certain COVID benefits.  Who is Eligible? You need to check ALL of the following criteria in order to be eligible: Your total 2020 taxable income was $75,000 or lessYou received at least one of the

Feb 23 2021
Certain COVID-19 Benefits are Being Extended

Due to the continued effect of COVID-19 on jobs and businesses, the following benefits are being extended: Canada Recovery Benefit (CRB) – extended by 12 weeks, from 26 weeks to up to 38 weeksCanada Recovery Caregiving Benefit (CRCB) – extended by 12 weeks, from 26 weeks to up to 38 weeksCanada Recovery Sickness Benefit

Jan 27 2021
Tax Due on COVID-19 Government Assistance Programs for Individuals

With tax season just around the corner, you may be concerned about the impact various government assistance programs may have on your tax return. We have broken it down for you so that there are no surprises when completing your tax return. CERB These payments did not have tax deducted from them and will

Dec 18 2020
December 2020 - Updates to the Small and Medium Enterprise Relaunch Grant

If you applied for the Canada Emergency Wage Subsidy (CEWS) in April or May, you could receive additional funding from the Small and Medium Enterprise Relaunch Grant. At KWB, our goal is to assist you in receiving as much relevant information as possible during these uncertain times and obtaining the maximum funding for your

Nov 24 2020
Canada Emergency Rent Subsidy (CERS) Brings Relief to Small Business Owners

The new rent subsidy for businesses will bring welcome relief for many of our business clients affected by COVID-19. Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to COVID-19 may be eligible for a subsidy to cover part of their commercial rent or property expenses.  Claims can

Oct 20 2020
Canada Recovery Sickness Benefit (CRSB) Explained

“The Canada Recovery Sickness Benefit (CRSB) gives income support to employed and self-employed individuals who are unable to work because they are sick or need to self-isolate due to COVID-19, or have an underlying health condition that puts them at greater risk of getting COVID-19. The CRSB is administered by the Canada Revenue Agency

Oct 17 2020
Temporary Changes to EI (Employment Insurance)

As of September 27, 2020, there are some temporary changes to the EI program to help you access EI benefits. These changes will be in effect for 1 year. Go to EI benefits and leave to find the benefit type that applies to your situation. The following changes could apply to you: A minimum

Oct 2 2020
CERB has ended - What happens now?

The Canada Emergency Response Benefit (CERB) has ended for many participants.  So what happens now?  Transitioning from CERB to Employment Insurance Those who have not yet hit the 28-week maximum will continue receiving their CERB payment until they max out or reach October 3rd. New applicants who now realize they were eligible

Sep 25 2020
Reminder – CRA Extended Filing and Payment Deadlines

Filing and payment deadlines have been extended to September 30, 2020 The Canada Revenue Agency (CRA) announced earlier this year that they would extend payment due dates for 2019 individual tax returns and 2019 or 2020 corporation, or trust returns, as well as for instalment payments to September 1, 2020.  There has since

Jun 17 2020
CERB (Canada Emergency Response Benefit) Extension - June 2020

The federal government announced on the 16th of June 2020 that they will be extending the Canada Emergency Response Benefit (CERB) eligibility period by eight weeks as the coronavirus pandemic continues to affect the job market. The Prime Minister said that those who are still unable to return to work due to the COVID-19

Jun 17 2020
CEBA – Canada Emergency Business Account – Update June 2020

It was announced today that the government will start accepting new applications under the expanded eligibility guidelines for the Canada Emergency Business Account (CEBA) starting on Friday (19 June 2020).  The government has expanded program eligibility to include sole proprietors and farmers. Businesses with total employment expenses in 2019 of $20,000 or

May 21 2020
Eligibility Criteria Expanded for Canada Emergency Business Account – CEBA

The Government of Canada has announced an expansion to the eligibility criteria for the Canada Emergency Business Account (CEBA) to include many owner-operated small businesses. The changes to CEBA will allow more Canadian small businesses to access interest free loans of up to $40,000 to help cover operating costs during a period when

Apr 24 2020
Canada Emergency Commercial Rent Assistance (CECRA)

The Canada Emergency Commercial Rent Assistance Program (CECRA) has been announced to provide rent relief for small businesses struggling to pay their landlords due to financial hardship as a result of COVID-19 for the months of April, May and June 2020.  Who is Eligible? Affected small business tenants who meet the following criteria:

Apr 23 2020
Self Isolation Ideas

Tips for for the entire family Ideas for families with children Set up video chat ‘play dates’ with school friendsDon’t forget about your own needs. Keep up meditation, yoga and exercise.Take time to prepare meals together, get creative, let the children take control!Perfect time to Marie Kondo your child’s bedroom, together

Apr 23 2020
KWB's Wage Subsidy Assessment and Application

A rapid response plan for your business Applications for CEWS (Canada Emergency Wage Subsidy) will start being received by the government as of Monday, 27 April 2020. While businesses may qualify for benefits under CEWS, understanding the program, determining eligibility, and submitting the proper application can create a high level of stress and uncertainty

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We greatly appreciate KWB’s flexibility with scheduling appointments. Even during the busy tax season, they have graciously arranged meetings that accommodated our busy schedules.

Patricia Campbell

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