We’re here to help! We’ve compiled all the resources and advice to help you, your business and your family through this period

Bookmark this page, as we’ll be updating it as more information becomes available

Tax changes for your 2020 return

• Payment extension for certain individuals

  • If you qualify, the balance owing on your 2020 income tax return will be extended to April 30, 2022 if you meet the following criteria:

    • You filed your 2020 income tax return

    • You have a total taxable income of $75,000 or less in 2020

    • You’ve received one of the following COVID-19 support measures: CERB, CESB, CRB, CRCB, CRSB, EI benefits, or similar provincial emergency benefits

  • The deadline for filing your income tax return has not changed

  • For most sole proprietors, your GST/HST balance owing is still due April 30, 2021

  • We encourage everyone to still file their income tax and GST/HST returns as normal, and then take advantage of the extended payment deadline if necessary

Personal income support

• CERB transition programs (Updated 10/02)

  • Qualifying hours for EI have been reduced dramatically to as few as 120 hours

  • The new Canada Recovery Benefit is for self-employed workers who don’t qualify for EI and can’t resume work. The benefit is $500/week for up to 26 weeks

  • The new Canada Recovery Caregiving Benefit is for workers who are unable to work because they’re caring for someone due to COVID-19. The benefit is $500/week for up to 26 weeks

  • The new Canada Recovery Sickness Benefit is for workers who are ill or must self-isolate for reasons related to COVID-19. The benefit is $500/week for up to 2 weeks

  • Read our blog post for the details

• Black Entrepreneurship Program (Updated 11/19)

  • New support was announced for Black owners and entrepreneurs

  • Applications are now open for the National Ecosystem Fund and the Black Entrepreneurship Knowledge Hub. Other details here

Business income support

• Canada Emergency Wage Subsidy (Updated 11/19)

  • Wage subsidy for almost all employers that have a decrease in revenue

  • Read our blog post for more details

• Canada Emergency Rent Subsidy (Updated 11/14)

  • This new rent subsidy will be delivered directly to tenants

  • The program will subsidize a percentage of expenses, up to a maximum of 65% through Dec 2020

  • A top-up subsidy of 25% will be available to organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority

  • Read our blog post for more details

• Canada Emergency Business Account (Updated 12/4)

  • Qualifying employers will receive up to $60,000, interest-free until December 31, 2022, and forgivable up to $20,000

  • Employers need to have had total payroll between $20,000 and $1.5 million in 2019, or eligible non-deferrable expenses over $40,000

  • Read our blog post for more details

  • Contact your bank to apply