Schwartz, CPA, Professional Corporation
2535 Major MacKenzie Dr W, Unit 8 L6A 1C6 Vaughan, ON, Canada

As of December 4, 2020, CEBA loans for eligible businesses will increase from $40,000 to $60,000. Applicants who have received the $40,000 CEBA loan may apply for the $20,000 expansion, which provides eligible businesses with an additional $20,000 in financing. https://ceba-cuec.ca

To our clients, The health, safety and well-being of our employees and clients are Schwartz CPA's top priority, and we are following the lead of Canadian public health authorities at this critical time. We have implemented additional measures to ensure your safety as well as the safety of our team, including:... - Introducing enhanced cleaning protocols in our location, with a particular focus on high traffic and high contact areas. - We can accept and provide all hi-tech technology for on-line communications. - To protect yourself and others, we ask that anyone who is feeling unwell refrain from visiting us so that together we can ensure a safe and comfortable experience for everyone. Thank you.

Canada Emergency Rent Subsidy now available! The government is taking targeted action to support Canadians and Canadian businesses, non-profits and charities that continue to face uncertainty and economic challenges because of the COVID-19 pandemic. Today, Bill C-9, An Act to Amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy) received Royal Assent, implementing new, targeted support to help hard-hit businesses. These measures will help ...businesses get through the second wave of the virus so they can protect jobs, continue to serve their communities, and be positioned for a strong recovery. The measures adopted as part of Bill C-9 are: The new Canada Emergency Rent Subsidy, which will provide direct and easy-to-access rent and mortgage interest support to tenants and property owners until June 2021 for qualifying organizations affected by COVID-19. The new rent subsidy will support businesses, charities, and non-profits that have suffered a revenue drop by providing support up to a maximum of 65 per cent of eligible expenses until December 19, 2020. Claims can be made retroactively to September 27, 2020. The new Lockdown Support, which will provide an additional 25 per cent through the Canada Emergency Rent Subsidy for qualifying organizations that are subject to a lockdown and must shut their doors or significantly restrict their activities under a public health order issued under the laws of Canada, a province or territory (including orders made by a municipality or regional health authority under one of those laws). Combined, this will mean that hard-hit businesses subject to a lockdown could receive rent support of up to 90 per cent. The extension of the Canada Emergency Wage Subsidy until June 2021, which will continue to protect jobs by helping employers keep employees on the payroll and re-hire workers. The wage subsidy will remain at the current rate of up to 65 per cent of eligible wages until December 19, 2020. The programs implemented in Bill C-9 will help to ensure that businesses, non-profits and charities get through this crisis, stay solvent, and keep workers on the payroll. The government also reaffirms its intention to introduce legislation to formalize rent payable as an eligible expense, for purposes of the Canada Emergency Rent Subsidy, as of September 27, 2020. Qualifying organizations will be able to take advantage of the rent subsidy on this basis as soon as the application portal is launched.

COVID-19 Business Support Grants For businesses belong to one of the following groups: Retail Trade Accommodation and Food Services... Repair and Maintenance Personal and Laundry And have between 2-9 employees https://www.app.grants.gov.on.ca/msrf/#/

Additional free interest loan for businesses. An expanded Canada Emergency Business Account (CEBA), which would enable businesses, and not-for-profits eligible for CEBA loansand that continue to be seriously impacted by the pandemicto access an interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000. Half of this additional financing would be forgivable if repaid by December 31, 2022. Additionally, 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.

Rent support for businesses is now available! The new Canada Emergency Rent Subsidy, which would provide simple and easy-to-access rent and mortgage support until June 2021 for qualifying organizations affected by COVID-19. The rent subsidy would be provided directly to tenants, while also providing support to property owners. The new rent subsidy would support businesses, charities, and non-profits that have suffered a revenue drop, by subsidizing a percentage of their expenses, on a sliding scale, up to a maximum of 65 percent of eligible expenses until December 19, 2020. Organizations would be able to make claims retroactively for the period that began September 27 and ends October 24, 2020.

Reminder: The deadline to pay your taxes was extended due to COVID-19. Here’s how you can make a payment: http://ow.ly/WLaS50BqClO #COVID19

THE DEADLINE TO APPLY FOR THE CANADIAN EMERGENCY BUSINESS ACCOUNT (40K BUSINESS BANK LOAN) IS AUGUST 31st, 2020.