CEWS – (Canada Emergency Wage Subsidy) - The Federal Government announced this morning that the program has now been further extended to the end of August. The government is contemplating changes to the program in an effort to adjust the program to reflect the fact the economy is beginning to be re-opened.
CESB - (Canada Emergency Student Benefit) – As indicated earlier in the week, the program is open to accept applications from eligible students as of today. Full details on who is eligible and how to apply are available at: https://www.canada.ca/en/revenue-agency/services/benefits/emergency-student-benefit.html. In summary, to be eligible, you must not have applied to CERB or EI and answer a series of qualifying questions. The eligibility periods are: May 10 to June 6; June 7 to July 4; July 5 to Aug 1; Aug 2 to Aug 29. You must apply for each period separately and can make up to $1,000 in each period. All applications have to submitted by September 30, 2020. Similar to the CERB program, applications will be accepted online at the CRA MyAccount Login or by phone (at 1-800-959-2019 or 1-800-959-2041). With direct deposit setup eligible students will receive payments most often within three business days. If a cheque needs to be issued it will likely be 10 business days to receive a payment.
Greg Libbrecht and the entire team at Platinum Business Services