My Instant Accounting Kamel Shafik CPA Professional Corporation
28 Village Centre L4Z 1V9 Mississauga, ON, Canada

one-time funding for parents to help offset costs for Children ages up to the age of 12. https://www.iaccess.gov.on.ca/SupportForLearn//index.xhtml

Ontario is helping businesses recover costs for personal protective equipment and providing extra support for businesses required to close or significantly restrict services as a result of provincial public health measures Your business can apply online for funding from one or more of the following initiatives: Main Street Relief Grant for Personal Protective Equipment (PPE) providing up to $1,000 for PPE costs to eligible small businesses across Ontario with 2 to 9 employees.... Property Tax and Energy Cost Rebate Grants for businesses that were required to shut down or significantly restrict services due to provincial public health measures (modified Stage 2 restrictions or, going forward, in areas categorized as control or lockdown). This provincial application-based grant provides a rebate to eligible businesses in respect of property taxes and energy bills. Source: https://www.app.grants.gov.on.ca/msrf/#/

The Federal Government announced on Friday that applications for the Canada Emergency Rent Subsidy (CERS) will start this Monday, November 23rd. The CERS program replaces the Canada Emergency Commercial Rent Assistance (CECRA) program which has now ended. This new rent program will provide benefits directly to tenants, instead of having to rely on landlords to apply. While applications start Today, benefits will be retroactive to September 27, 2020 and the program will run un...til June 2021. If you qualify, you can receive up to $75,000 in benefits per Business and up to a maximum $300,000 if you own multiple Businesses. The benefit amount you receive will depend on the revenue decline. The subsidy is calculated with a base rate + top up for those businesses that have been forced to completely shutdown due to a public health order. The maximum base rate subsidy is 65%, and is available to businesses with a revenue drop of 70% or more. The base rate declines to a rate of 40% for businesses with a revenue drop of 50%, and gradually reduces to 0%. Calculate your rent subsidy rate Your revenue drop: Revenue drop of 70% or more, The maximum subsidy rate of 65%. Revenue drop of 50 to 70%, the maximum subsidy is calculated as (Your revenue drop - 50%) x 1.25 + 40% Revenue drop of less than 50% 0.8 x your revenue drop In addition to the rent subsidy rate, you can receive a lockdown support amount for certain locations affected by public health restrictions. Your CERS top-up (lockdown support) rate is 25% on lockdown, calculated as: 25% (fixed top-up rate) times days the location was locked down due to the COVID-19 pandemic divided by 28 (the days in the CERS period) equals Your top-up (lockdown support) rate Source https://www.canada.ca//emergency-rent-subsidy/cers-calcula

A new relief fund announced recently managed by the Ontario Chamber of Commerce, to support Canadian businesses with grants of up to $5,000. Please see link below for more info. https://occ.ca/canada-united-small-business-relief-fund/ News release - https://www.canada.ca//minister-ng-announces-support-for-s... Some of key eligibility criteria: One application per ownership group. So, you can only apply for one of the entities that you or your group owns. Annual revenue from $150,000 to $3,000,000. No more than 75 employees. Have $1,000,000 of commercial general liability insurance. Not receiving any other contribution from public funds towards the specific activities contained in the funding application. Established business since Mar 1, 2020 and be in operation after Sep 1, 2020. Need to provide all receipts etc. Eligible activities and costs: Purchases of PPE Renovation of space to adhere to re-opening guidelines Enhancement of website / developing e-commerce capability These purchases were made on or after Mar 15, 2020

CEBA UPDATE - ADDITIONAL $20 k SUPPORT FOR BUSINESS Canada Emergency Business Account (CEBA) The expanded CEBA program will enable businesses, and not-for-profits eligible for CEBA loans and which continue to be seriously impacted by the pandemic to access an additional interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000. ... Half of this additional financing will be forgivable if repaid by December 31, 2022. The application deadline for CEBA is being extended to December 31, 2020. Further details, including the launch date and application process will be announced in the coming days. An attestation of the impact of COVID-19 on the business will be required to access the additional financing.

Wage Subsidy to be extended till next summer https://nationalpost.com//trudeau-to-extend-flagship-emerg

The federal government is for the second time extending its program to subsidize wages in companies hit hard by the COVID-19 pandemic, this time until at least December.

CEWS Extension As the COVID-19 pandemic continues, the federal government has extended the Canadian Emergency Wage Subsidy (CEWS) by an additional 12 weeks to August 29, 2020.

Canadian Emergency Business Account (CEBA) The government announced it was expanding the criteria used by businesses in calculating their CEBA eligibility. To qualify under the expanded eligibility criteria, applicants with payroll lower than $20,000 need: a business operating account at a participating financial institution; a Canada Revenue Agency business number, and to have filed a 2018 or 2019 tax return; eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities and insurance.