Ali Ahmady Mortgages
1673 Carling Avenue Unit #215-B K2A 1C4 Ottawa, ON, Canada

**** Covid-19 Small Business Update**** In case you would like to read a bit more on the Prime Minister’s most recent announcement made on March 27th, 2020, the Government of Canada will: - Implement 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. ... - Allow businesses, including self-employed individuals, to defer all Goods and Services Tax/Harmonized Sales Tax (GST/HST) payments until June, as well as customs duties owed for imports. This measure is the equivalent of providing up to $30 billion in interest-free loans to Canadian businesses. It will help businesses so they can continue to pay their employees and their bills, and help ease cash-flow challenges across the country. - Launch the new Canada Emergency Business Account. This program will provide up to $25 billion to eligible financial institutions so they can provide interest-free loans to small businesses. These loans guaranteed and funded by the Government of Canada will ensure that small businesses have access to the capital they need, at a zero per cent interest rate, so they can pay for rent and other important costs over the next number of months. - Launch the new Small and Medium-sized Enterprise Loan and Guarantee program that will enable up to $40 billion in lending, supported through Export Development Canada and Business Development Bank, for guaranteed loans when small businesses go to their financial institutions to help weather the impacts of COVID-19. This is intended for small and medium-sized companies that require greater help to meet their operational cash flow requirements. This seems likes a step in the right direction! Hopefully all parties within the government will continue to work together to genuinely assist Canadian small businesses with the essentials required to survive these tumultuous times.

Canada's national debt is bigger than ever before, contributing to ongoing low mortgage rates. Throw in financial market uncertainty and the likelihood of these low rate trends tracking well into this new year is very high.

Still a lot of unknowns around this but there are definitely some advantages for those looking to take money from their RRSPs under the first time home buyer plan and have some additional equity ownership.