Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:
• Corporate Tax Changes, including extensions to subsidy programs.
• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.
• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.
For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.
https://hfin.ca/wp-content/uploads/2020/12/Highlights-of-the-2020-Federal-Fall-Economic-Statement@1000px-40.png5631000Heuchert Financialhttps://hfin.ca/wp-content/uploads/2020/05/heuchertLogo.pngHeuchert Financial2020-12-07 15:42:082020-12-07 19:20:41Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now
The new Canada Emergency Rent Subsidy is open for applications today! Unlike the previous program, this subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.
CERS covers up to 65% of rent for businesses, charities and non-profits impacted by COVID-19.
An additional 25% Lockdown Support is available during a public health lockdown order.
https://hfin.ca/wp-content/uploads/2020/11/CERS_STARTS_TODAY.gif280500Heuchert Financialhttps://hfin.ca/wp-content/uploads/2020/05/heuchertLogo.pngHeuchert Financial2020-11-23 14:01:152020-11-23 15:21:52Applications for the new Canada Emergency Rent Subsidy starts today!