Coronavirus – COVID -19

We are all going through tough times brought upon us by COVID-19.  We hope you and your family are all well.

Health departments and professionals are helping you by informing on health matters; and Finance departments and professionals, on economic matters.  We as accountants want to help you in ways we can.

Most of you own small businesses. So, we undertook to help you with 3 major economic programs set up by our governments recently.

For the employees who have lost their jobs, the usual route of Employment Insurance (EI) is already there; a new route Canada Emergency Response Benefit (CERB) is being setup.

This will give $2,000 monthly to self-employed owners and contractors.

To help employers pay wages, a program called Temporary Wage Subsidy (TWS) is being setup.  Employer can get up to 75% of their wage expenses paid by government.

To ease cashflow of businesses, Canada Emergency Business Account (CEBA) program is being setup. This will give your business an interest free loan of $40,000 and $10,000 of this amount may not be even repayable.

Eligibility Criteria and Application Forms for these programs should be ready within a week.  We are watching the developments closely and continuously.  Let us know if you need our help in applying for EI, CERB, TWS or CEBA.

We also want to let you know that we have extended our restriction on in-person meetings to April 13th. But we are open for business using email and phone during regular office hours.

Stay safe and stay well!

Teji Singh, Manager

H&T Accounting Services, Mississauga, ON

Email: handt@handt.ca

Tel: 905-858-0775

Fax: 905-858-8645

Web: www.handt.ca