Canada Emergency Wage Subsidy extended into December!
On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.
On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.
For many Canadians, especially those with young families, term life insurance is most often the product of choice for protecting one’s family. The major reason for this is that it is the lowest entry-level cost to purchase life insurance.
Great news for Canadians out of work and looking for work. The CERB will be extended another 8 weeks for a total of up to 24 weeks.
The expanded CEBA will begin June 19th.
Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.
The Application portal for the Canada Emergency Commercial Rent Assistance (CECRA) opens at 8:00am EST on May 25th
The Prime Minister outlined the expanded eligibility for the Canada Emergency Business Account and highlighted companies such as hair salon owners, independent gym owners with contracted trainers and local physio businesses will now be eligible.
“If you are the sole owner-operator of a business, if your business relies on contractors, or if you have a family-owned business and you pay employees through dividends, you will now qualify.” – PM Justin Trudeau
The Canada Emergency Student Benefit (CESB) provides financial support to post-secondary students, and recent post-secondary and high school graduates who are unable to find work due to COVID-19.
On May 8th, Prime Minister Justin Trudeau announced that they will extend the Canada Emergency Wage Subsidy (CEWS) beyond June.
Growing your estate without undue market risk and taxes
Often we see older investors shift gears near retirement and beyond. Many become risk-averse and move their assets into fixed income type investments. Unfortunately, this often results in the assets being exposed to higher rates of income tax and lower rates of return – never a good combination.
Or maybe the older investor cannot fully enjoy their retirement years for fear of spending their children’s inheritance.
The Estate Bond financial planning strategy presents a solution to both of these problems.
On April 24th, the Federal Government in partnership with the provinces and territories unveiled the Canada Emergency Commercial Rent Assistance which provides rent relief to businesses.
On May 1st, the BC Government will start taking applications online for the BC Emergency Benefit for Workers. Telephone applications will start on May 4th but it is strongly recommended that you apply online as they anticipate high call volumes. This benefit provides a one time payment of $1,000 to residents of BC whose ability to work has been affected due to COVID-19.
Great news for students worried about financially making ends meet. Prime Minister Justin Trudeau announced the Canada Emergency Student Benefit which provides $1,250/month from May through August or $1,750/month for those taking care of someone else or have a disability.
For students looking to volunteer to help fight COVID-19, the Canada Student Service Grant provides $1,000 to $5,000