HSandPartners

Announcements

How to apply for the $40,000 Canada Emergency Business Account (“CEBA”)?

How to apply for the $40,000 Canada Emergency Business Account (“CEBA”)? Announced earlier this month by the Federal government, CEBA is now available for qualifying businesses. Applications are made through your business’ primary financial institution. It provides an interest free loan of up to $40,000 to eligible businesses to assist with their immediate operating cash …

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Update on More Flexible Criteria for the 75% Wage Subsidy

Update on More Flexible Criteria for the 75% Wage Subsidy   Dear Clients & Friends, Today the Government announced the following amended criteria to provide greater flexibility for businesses to access the 75% wage subsidy (the Canada Emergency Wage Subsidy, or “CEWS”): To measure their reduction in revenue, it is proposed that all employers have …

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How to Apply for Canada Emergency Response Benefit (CERB) with CRA

How to Apply for Canada Emergency Response Benefit (CERB) with CRA       On April 6, 2020, the $2,000/month CERB has gone live and the application process has opened for taxpayers who’s birthdays are in January, February and March. Those whose birthdays are in April, May, June, can apply on Tuesday. July, August, September birthdays can apply on Wednesday. October, …

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Wage Subsidy Details Announced

Wage Subsidy Details Announced Yesterday, Finance Minister Bill Morneau announced the details of the proposed Canada Emergency Wage Subsidy: The Canada Emergency Wage Subsidy would apply at a rate of 75% of the first $58,700 normally earned by employees – representing a benefit of up to $847 per week. The program would be in place …

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Clarifications and Details Regarding the 75% Wage Subsidy

Today’s ( March 30th, 2020)Update Clarifications and Details Regarding the 75% Wage Subsidy    Qualifying for the 75% wage subsidy will be a revenue-based test. It will apply to businesses who can show that revenue has dropped 30% or more as a result of COVID-19. Number of employees is not relevant. All companies will qualify (large …

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HS & Partners is an Essential Service and Will Remain Open

Dear Clients & Friends: Further to the Ontario government’s mandated business closures, please note that HS & Partners LLP is exempt as an “essential service”. As such, we will continue to operate as we have over the past 2 weeks. We ask that clients continue to send their documents by email/PDF (which is preferred); and courier …

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Additional Measures to Support Small Business

To further support small businesses, the Government of Canada today announced the following additional measures: A 75% wage subsidy for qualifying businesses, for up to 3 months, retroactive to March 15, 2020. This will help businesses to keep and return workers to the payroll. More details on eligibility criteria will be shared before the end …

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Helping Businesses Keep their Employees

Helping Businesses Keep their Employees To support businesses that are facing revenue losses and to help prevent layoffs, the government will provide eligible small employers a temporary wage subsidy for a period of three months. The subsidy will be equal to 10% of remuneration paid during that period, up to a maximum subsidy of $1,375 …

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Nine changes for taxpayers that come with the COVID-19 Economic Response Plan

  The government – Prime Minister Justin Trudeau on March 19, 2020 – released its COVID-19 Economic Response Plan: Tax deadline: For those who are procrastinators, the plan will sit well. The usual deadline for filing your personal tax return is April 30, but this is extended to June 1. For those who will be …

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