MENU
01
Home
02
Services
03
Sectors
04
Insights
05
News
06
Team
07
Careers
08
Contact
Services
01
Government Relations
02
Communications & Digital
03
Advisory Services
Sectors
01
Energy
02
Environment
03
Health Care
Updates
01
Insights
02
News
HomeServicesSectorsTeamInsights
insights
updates
May 19, 2020

Government Announces Expansion of the Canada Emergency Business Account

written by

Federal Team

Government Announces Expansion of the Canada Emergency Business Account

Today, Prime Minister Trudeau announced that the federal government will expand the eligibility criteria for the Canada Emergency Business Account (CEBA) to include more small businesses.

The program will now be available to the following businesses: sole proprietors receiving income directly from their businesses, businesses that rely on contractors, and family-owned corporations that pay employees through dividends rather than payroll.

The CEBA provides interest-free loans of up to $40,000 to small businesses facing reduced revenues due to the COVID-19 pandemic. Twenty-five per cent of this loan is forgivable if repaid by December 31, 2022.

To qualify under the expanded eligibility criteria, applicants with payroll lower than $20,000 will need:

  • A business operating account at a participating financial institution.
  • A Canada Revenue Agency business number.
  • To have filed a 2018 or 2019 tax return.
  • Eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses include costs such as rent, property taxes, utilities, and insurance.

Expenses will be subject to verification and audit by the Government of Canada. Funding will be delivered in partnership with financial institutions.

More details, including the launch date for applications under the new criteria, will follow in the days to come.

US Border Closure Extended‍

The Prime Minister also announced that Canada and the United States have agreed to extend the current border closure measures until June 21, 2020.

The border is currently closed to all recreational travelers but remains open for commercial traffic and essential workers.‍

Federal Engagement

Consult the Sussex COVID-19 Guide for information on supports made available across the Federal, Provincial and Municipal Governments.

As the details of the programs announced today become available, let Sussex help connect you with the right people in government to help your organization get through these extraordinary times.

Please reach out to your Sussex representative directly or to a member of the Federal Government Relations Team.

No items found.
share article
Link copied
‍

recent posts

Ford Government Shuffle: What You Need to Know
September 23, 2023

Ford Government Shuffle: What You Need to Know

This afternoon Premier Doug Ford announced another shuffle to his Cabinet. These changes come only three weeks after a shuffle earlier in September that was prompted by the resignation of then Minister of Municipal Affairs and Housing, Steve Clark. This afternoon’s Cabinet shuffle was more unexpected, prompted by the abrupt resignation on Thursday of Khaleed Rasheed, Minister of Public and Business Service Delivery, amid scrutiny of a Vegas trip with developers linked to the Greenbelt controversy.

Prime Minister Announces Changes to Parliamentary Secretaries
September 18, 2023

Prime Minister Announces Changes to Parliamentary Secretaries

On Friday, Prime Minister Justin Trudeau announced the new complement of Parliamentary Secretaries. Parliamentary Secretaries are chosen by the Prime Minister to work with Ministers. Their responsibilities vary but generally fall into two categories: House of Commons business and department-related duties.

Ontario Government Cabinet Shuffle: What You Need to Know
September 5, 2023

Ontario Government Cabinet Shuffle: What You Need to Know

Yesterday, Premier Doug Ford announced a minor but significant shuffle to his Cabinet. These changes come just over a year since the Progressive Conservative’s re-election last June and amid a controversy regarding political interference around the swapping of land in and out of the Greenbelt.

view all
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
company
HomeTeamCareersContactTerms & Policies
explore
ServicesSectorsInsightsNews
follow us
ALL RIGHTS RESERVED © 2020