Tag Archives: Covid-19 Benefits

How will various Covid-19 Support Programs affect your Income Tax Return?

Today we’ll take a look at how the various Covid-19 support programs, provided to both individuals and businesses, will affect their tax returns. 1. Support Programs for Individuals Several programs were started to support individuals and their families during the Covid-19 pandemic. For most programs, the Canada Revenue Agency (CRA) will be issuing a T4A…
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Ontario’s Small Business Support Grant – Applications Open

The Ontario Small Business Support Grant is additional support for small businesses in the province who had to close or restrict their operations because of the Covid-19 pandemic. It was first announced in December 2020 and offers funding of $10,000 to $20,000 to eligible businesses. This will be a one-time grant and is designed to…
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Canada Emergency Business Account (CEBA) $20,000 Loan Expansion

As we’ve stated in our previous blogs and newsletters, the Canada Emergency Business Account (CEBA) is an interest-free, partially forgivable loan program started to help businesses as a response to the Covid-19 pandemic. As of December 2020, the program provided funding to more than 700,000 businesses but this proved insufficient to mitigate the economic impact…
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