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Commercial Rent Assistance & Emergency Wage Subsidy


CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE (CECRA)

APRIL 22, 2020

The Federal government in partnership with the provincial and territorial governments plan to launch a support program for small businesses. The Prime Minister first announced the program in his press conference on April 16th, 2020.

Here are the details that are posted at www.canada.ca

Provide loans and/or forgivable loans to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (this will be retroactive), May and June

CANADA EMERGENCY WAGE SUBSIDY (CEWS)

APRIL 22, 2020


Application for the program is to be available on the CRA My Business Account on Monday, April 27th, 2020

Funds are expected to flow in the first week of May 2020

An eligibility checklist and subsidy calculator are now available on the Government of Canada site to assist with preparing for the application and estimating the applicant’s subsidy

https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-

wage-subsidy.html

The applicant will need to spend some time pulling together the information for their application, the checklist \ calculator will assist the applicant

You will need to provide a full list of your employees and their SIN numbers

There are three scenarios that an applicant should review

There is an Excel spreadsheet to download to organize your data

The data is then entered into the calculator on the website

The 100% refund for CPP/EI employer-paid amounts are also entered into this application if that program is applicable to the applicant, this increases the CEWS

If the applicant has participated in the 10% Temporary Wage Subsidy that data is entered into the calculator, this reduces the CEWS


Confirm that your CRA My Business Account is active or apply

https://www.canada.ca/en/revenue-agency/services/e-services/e-

services-businesses/business-account.html


There will also be an alternative online web application which requires an access code

https://apps.cra-arc.gc.ca/ebci/leb0/wacretrieve/pub/disclaimer.action?

request_locale=en

Note that the penalty for incorrect and fraudulent claims will require the repayment of the subsidy plus fines where applicable. Penalties are applicable at a rate of 25% if the applicant artificially reduced their revenue for the purpose of claiming the wage subsidy. This is specially mentioned on the website.



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