The benefit will be the least of the following three amounts:
To be eligible, an employer needs to be:
There is no official application required for this. Businesses should simply reduce their remittance of income tax withheld from their employees’ remuneration.
The benefit that employers can claim per employee is the grater of the following:
Loan Guarantee for Small and Medium Businesses (EDC Program):
EDC will guarantee operating credit and cash flow term loans for up to $6.25 million to eligible SME’s.
Co-Lending Program for SME’s (BDC Program):
Eligible businesses may obtain incremental credit amounts of up to $6.25 Million, BDC’s portion of this loan would be a maximum of $5 Million
Loans would be interest-only for the first 12 months, with a 10-year repayment period
Any business that had their payrolls between $50,000 and $1 Million, will be eligible for this loan. This loan will be available to small businesses as early as week of April6th,2020.
Contact individual financial institutions for details regarding how to apply for this subsidy.
$2,000 a month of income for any individual who has lost their income due to COVID-19 outbreak.
Each application is for a maximum of 4 weeks. Although, the applicant is eligible to apply multiple times with a maximum total of 16 weeks.
Applications begin from April 6th. The two methods of applying for CERB is via “My Account” on the CRA’s website, or through a phone call.
There will be no applications accepted after December 2nd, 2020.
This information has been prepared by Endeavour Wealth Management for Industrial Alliance Securities Inc. (iA Securities) and does not necessarily reflect the opinion of iA Securities. The information contained in this presentation comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.
Industrial Alliance Securities Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Securities is a trademark and a business name under which Industrial Alliance Securities Inc. operates.
The 4th quarter fed off of the same stories that have shaped markets all year, namely the trade war, and geopolitical concerns. The good news is that many of these issues turned more positive in the 4th quarter.
May 25, 2022
After an eventful 2nd quarter, the 3rd quarter was even more eventful. The daily updates on the trade war seem to shift the sentiment of the market on a dime.
September 9, 2021
Whereas the first quarter of 2020 was devastating to global markets, the theme of the 2nd quarter has been recovery, even though the underlying economic situation has actually deteriorated in that time. Most clients will have recouped almost all of their losses on the year.
September 9, 2021