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June 2020 Update

Tuesday June 30, 2020

Expanded CEBA program launched
The Canada Emergency Business Account program (CEBA) provides government-guaranteed, interest-free loans to small businesses and not-for-profits of up to $40,000. Repaying the balance of the loan on or before December 31th, 2022 will result in loan forgiveness of 25%, up to $10,000.

Until recently, only businesses with a total 2019 payroll between $20,000 and $1.5 million were eligible to apply for this program. Now—as of June 26th, 2020—owner-operated small businesses with $20,000 or less in payroll, sole proprietors receiving business income directly, and family-owned businesses paying themselves through dividends vs. payroll are also able to apply. To qualify, you need to demonstrate Eligible Non-Deferrable Expenses (rent, property taxes, utilities, insurance etc.) of between $40,000 and $1,500,000 for 2020.

The CEBA application process under the original eligibility parameters (now referred to as the Payroll Stream) remains unchanged and occurs directly through the financial institution where your business holds its primary business account.

The application process under the new Non-Deferrable Expenses Stream involves two steps: the application must first be initiated through your primary financial institution, before being completed on a CEBA website where you will need to provide three key pieces of information:

  • the name of the financial institution where the application was submitted
  • your 9-digit business number used in your application with your financial institution
  • all receipts, invoices or agreements that show your 2020 Eligible Non-Deferrable Expenses

The expanded program is being made available gradually across the country, starting with the larger banks. Other participating financial institutions will begin offering the program over the coming weeks.

Remember: funds from either loan stream can only be used to pay non-deferrable operating expenses including payroll, rent, utilities, insurance, property tax and regularly scheduled debt service.

Additional details are available at:

Updated details on the Canada Emergency Wage Subsidy (CEWS)
On June 16th, the CRA confirmed that the CEWS would maintain the 30% decline in revenue threshold for the fourth qualifying period (June 7th to July 4th). The CRA noted that any potential changes, including changes to the qualifying revenue threshold, would only commence as of the fifth (July 5th to August 1st) and/or sixth (August 2nd to August 29th) qualifying periods. Additional information regarding eligibility changes for future periods are expected to be announced shortly.

Two important changes to the Canada Emergency Response Benefit (CERB)
1. The government has extended the CERB by eight weeks, making the benefit available to eligible workers for up to a total of 24 weeks.

2. As of July 5th, the CRA will require recipients who apply for the extra CERB periods to sign an attestation that acknowledges the government wants them to find work.

S+C Partners is committed to helping our clients, our staff, and our community during this difficult time and our team is ready to assist you with navigating the challenges posed by this crisis.

Please call us at 905-821-9215 or email us at with any questions.



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