{"id":12305,"date":"2020-04-16T12:10:29","date_gmt":"2020-04-16T16:10:29","guid":{"rendered":"https:\/\/www.ggfl.ca\/?p=12305"},"modified":"2023-02-07T15:14:47","modified_gmt":"2023-02-07T20:14:47","slug":"canada-emergency-business-account","status":"publish","type":"post","link":"https:\/\/www.ggfl.ca\/canada-emergency-business-account\/","title":{"rendered":"Canada Emergency Business Account"},"content":{"rendered":"<h5 style=\"text-align: right;\">Additional COVID-19 Resources<\/h5>\n<p style=\"text-align: right;\"><a href=\"https:\/\/www.ggfl.ca\/covid-19-helping-your-employees\/\">COVID-19 \u2013 Helping Your Employees<\/a><\/p>\n<p style=\"text-align: right;\"><a href=\"https:\/\/www.ggfl.ca\/new-tax-filing-and-tax-payment-deadline\/\">New Tax Filing and Tax Payment Deadline<\/a><\/p>\n<p style=\"text-align: right;\"><a href=\"https:\/\/www.ggfl.ca\/managing-your-cash-flow-during-covid-19\/\">Managing Your Cash Flow During COVID-19<\/a><\/p>\n<p style=\"text-align: right;\"><a href=\"https:\/\/www.ggfl.ca\/covid-19-and-the-temporary-wage-subsidy\/\">The Canada Emergency Wage Subsidy<\/a><\/p>\n<p style=\"text-align: right;\"><a href=\"https:\/\/www.ggfl.ca\/aid-for-students-and-the-canadian-emergency-student-benefit\/\">Aid for Students and the Canadian Emergency Student Benefit<\/a><\/p>\n<h5 style=\"text-align: right;\"><strong>GGFL Service Changes<\/strong><\/h5>\n<p style=\"text-align: right;\"><a href=\"https:\/\/www.ggfl.ca\/secure-document-drop-off\/\">Secure Document Drop-Off<\/a><\/p>\n<p style=\"text-align: right;\"><a href=\"https:\/\/www.ggfl.ca\/covid\/\">COVID-19, Taxes and Office Operations<\/a><\/p>\n<p style=\"text-align: right;\"><a href=\"https:\/\/www.ggfl.ca\/client-safety-and-care-during-covid-19\/\">Client Safety and Care During COVID-19<\/a><\/p>\n<p><em>Updates June 23, 2020<\/em><\/p>\n<p>Applications are now open for the Canada Emergency Business Account (CEBA) through financial institutions. CEBA will provide business owners with a loan of up to $40,000 that is interest free until the end of 2022. Up to $10,000 of the loans may be considered a grant and will not have to be repaid, if 75% of the initial loan amount is repaid by the end of 2022. To be eligible, companies need to have had payroll between $20,000 \u2013 $1,500,000 in 2019.<\/p>\n<p>In June, the government announced that they are expanding the qualifying criteria to include ole proprietors receiving business income directly, as well as family-owned corporations remunerating in the form of dividends rather than payroll. These companies will qualify if they have:<\/p>\n<ul>\n<li>A business operating account at a participating financial institution;<\/li>\n<li>A Canada Revenue Agency business number;<\/li>\n<li>Tax returns from 2018 or 2019; and<\/li>\n<li>Eligible non-deferrable expenses of between $40,000 and $1.5 million.<\/li>\n<\/ul>\n<p>Applications for the expanded CEBA were originally scheduled to open on June 19th, but have been delayed. The government hopes to announce details of the new date shortly.<\/p>\n<p><strong>Don&#8217;t Qualify?<\/strong><\/p>\n<p>On April 17th, the government announced new aid programs for innovator and start-up companies that do not qualify for the Canada Emergency Wage Subsidy or the Canada Emergency Business Account. To help these companies, $962M will be provided to regional development agencies and the Community Futures Network. An additional $270M will be provided to Futurpreneur and the Industrial Research Assistance Program to help early stage companies. The Prime Minister also announced $500M will be provided to Heritage Canada to assist the arts, culture and sports communities.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Additional COVID-19 Resources COVID-19 \u2013 Helping Your Employees New Tax Filing and Tax Payment Deadline Managing Your Cash Flow During COVID-19 The Canada Emergency Wage Subsidy Aid for Students and the Canadian Emergency Student Benefit GGFL Service Changes Secure Document Drop-Off COVID-19, Taxes and Office Operations Client Safety and Care During COVID-19 Updates June 23,<\/p>\n","protected":false},"author":10,"featured_media":12306,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[141,145,142],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canada Emergency Business 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