Downloadable Resources
The federal government has announced several economic measures to assist employers and their employees as a response to the COVID-19 pandemic.
Program information
- Canada Emergency Rent Subsidy (CERS) and Lockdown Support
- Canada Emergency Business Account (CEBA) (Updated November 20, 2020)
- Canada Emergency Wage Subsidy (CEWS) (Updated January 13, 2021)
- What the new Canada Emergency Wage Subsidy rules means for your business (July 2020)
- Canada Emergency Commercial Rent Assistance (CECRA)
- Canadian Emergency Response Benefit (CERB) (Program Ended)
- Work-Sharing Program
- Temporary Wage Subsidy
- EI Sickness Benefit
- Project-based incentives and grant programs
- Additional financial support for the food industry
- New credit and loan programs through the BCAP and BDC
- Setting up My Account for Individuals with the Canada Revenue Agency
- Setting up My Business Account with the Canada Revenue Agency
- Canada Summer Jobs Program (CSJP)
- Canada Emergency Student Benefit (CESB)
Your COVID-19 business questions answered
Get insights on the latest Canadian government programs, business risks and more in our series of Q&A videos intended to help guide businesses through the COVID-19 pandemic.
The Canada Emergency Wage Subsidy (CEWS) Explained
The Canada Emergency Wage Subsidy (CEWS) is a 75% subsidy to help businesses retain their workforce, or, in some cases, even hire back employees who have been laid off due to the pandemic. Michael Espinoza explains the important points you need to remember if applying for the CEWS program.
The Canada Emergency Student Benefit (CESB) Explained
To provide financial support to eligible students and new graduates, the government has introduced the Canada Emergency Student Benefit (CESB). Alli Cheng, Manager, Tax Services, explains the important points you need to remember if applying for the CESB program.
Support for your business
COVID-19: Hedge accounting insights
There are several accounting considerations the COVID-19 pandemic has triggered in relation to IFRS 9.
Millennials are driving recovery in Canada’s real estate market
While many assume this generation is less interested in home ownership, the hard data now says otherwise, as millennials are trading city living for the suburbs.
A guide to selling your business in turbulent times
Selling a business is a significant step that deserves careful attention even at the best of times, and Canada’s ongoing recovery from the economic impacts of 2020 could pose additional challenges.
A blueprint for moving forward: Lessons learned from COVID 19
To help businesses prepare for the future, we decided to aggregate COVID-19 learnings from both our virtual roundtable meetings and IBR results to develop a blueprint, of sorts, on how to navigate a crisis.
Disclosing the ongoing impacts of COVID-19 in your entity’s financial statements
Since mid-March 2020, COVID-19 has impacted virtually all businesses in Canada. For example, as a result of the pandemic, your entity may have experienced a decrease in revenue, obtained new sources of income (such as government funding), or identified impairment indicators for certain assets.
COVID-19 Accounting considerations for CFOs
Events after the reporting period: If the widespread impact of COVID-19 began during the entity’s reporting period, the impact will be reflected in its financial statements for that period.
(Re)-Open for business: The impact of timing on CEWS and CERB
Now that provinces have implemented reopening strategies, businesses may be looking to rehire employees who were previously put on unpaid leave or laid-off altogether.
US state tax: Another business cost of COVID-19?
Projections indicate the pandemic will cause a $160 billion decrease in US state tax revenue from 2019 to 2021.
COVID-19: Five accounting considerations relating to revenue recognition
As a result of COVID-19 entities are generally expecting to experience significant declines in revenue and decreases in progress of delivery of performance obligations for long-term contracts.
Heightened diligence is the name of the game in post-COVID-19 transactions
With borders closed, travel restricted and face-to-face meetings impossible, transactions have slowed dramatically. But deals will resume.
The Canada Emergency Wage Subsidy (CEWS): Understanding the risks
With the application process for the Canada Emergency Wage Subsidy (CEWS) under way, many Canadian-based employers are looking to this program for support to balance their cash flow and keep their employees working during the COVID-19 pandemic.
How will Canada’s wage subsidy affect your March 31, 2020 reporting?
In response to the unprecedented impact of COVID-19 on Canadian business, in March 2020 the government quickly announced a number of support programs for small businesses.
Reporting the impact of COVID-19 on your business
Individuals responsible for preparing financial statements and approving them for issue need to be cognisant of not only what has happened and is happening at the reporting date and the time the financial statements are approved, but also what is likely to happen next.
COVID-19: Financial Reporting and Disclosures
The virus has taken its toll on not just human life, but businesses and financial markets too, the extent of which is currently indeterminate. Entities need to carefully consider the accounting implications of this situation.
The impact of rent concessions and lease modifications on financial statements
The COVID-19 outbreak has significantly affected businesses. Companies have had to close their offices, stores and retail locations to the public, resulting in either significantly reduced revenue and cash inflow or, in many cases, no revenue at all.
Additional financial support for the food industry
If you work in the agriculture and food industry and have been negatively impacted by COVID-19, the federal government’s new credit programs with Farm Credit Canada (FCC) may offer some relief.
Understanding the impact of COVID-19 on your 2020 deferred tax provision
This article outlines key areas of your tax provision that could be affected by the impacts of COVID-19 and related tax stimulus and should be considered when preparing your 2020 tax provision for financial reporting purposes under IAS 12 Income Taxes (IAS 12).
5 tips for extending cash flow
Business owners may be concerned about liquidity for any number of reasons as the country addresses the challenge of COVID-19.
Working from home: Securing your new workplace
Working from home is the “new normal” for many businesses and their employees. We’ve assembled an essential guide for you.
Focus on what you can control
It’s easy to feel overwhelmed by the number of decisions you need to make to keep your organization running during the COVID-19 pandemic.
What to consider when facing a temporary business closure
As COVID-19 continues to cause significant disruptions both economically and socially, many businesses are facing the tough decision.
How an estate freeze can help you maintain control of your investments
If you’re a business owner, you might feel especially challenged by the current market conditions.
COVID-19 and your business: Government and economic resources
The business environment is changing rapidly due to the unfolding COVID-19 situation.
Strategies to help businesses respond to COVID-19
The economic consequences of Coronavirus disease 2019 (COVID-19) may be substantial for Canadian businesses.
COVID-19: 7 Steps to manage cash flow and financial headwinds
The economic consequences of COVID-19 on future trading assumptions may place some companies under liquidity pressures.
What US employers should know about new COVID-19 regulations
To provide relief for US taxpayers, assist employees affected by COVID-19 and bolster US businesses, the US government has released a range of new tax measures and regulations.
Support from the government
New guidance on claiming home office deductions during COVID
In an effort to provide support for individuals and businesses affected by COVID-19, the federal government continues to refine and revise the programs available to Canadians.
New T4 reporting requirements for employers
Employers completing T4 slips and summaries for 2020 should be aware of new reporting requirements related to the completion of these tax documents.
Additional $15,000 grant for Alberta businesses
The provincial government is introducing enhancements to the Small and Medium Enterprise Relaunch Grant that could benefit many Alberta businesses.
Fall Economic Statement 2020
The 2020 Fall Economic Statement provides a summary of government measures introduced in response to COVID-19 to help Canadian businesses and individuals.
Recent COVID support updates: CERS, CEWS and CEBA
The federal government has confirmed additional financial support to businesses in response to the ongoing pandemic.
$5K grant for eligible Manitoba businesses mandated to close
Given Manitoba’s poor standing in the battle against COVID-19, a public health order has mandated the closure of many provincial businesses.
Small businesses can claim $5,000 CUSBRF COVID-19 relief grant
The Canada United Small Business Relief Fund is providing Canadian businesses across different sectors and industries with grants of up to $5,000 to offset the cost of expenses businesses have incurred due to COVID-19.
Now that CERB has ended, what’s next?
The Canada Emergency Response Benefit (CERB) program, which provided many out-of-work Canadians with $2,000 per four-week period, ended on September 26.
Does the IRS owe you money?
Our checklist can help US corporate tax payers maximize refunds under the US CARES Act as filing deadlines of October 15 approach.
Important changes to BC’s PST filing requirements
Due to COVID-19, the BC provincial government has decided to adjust some of its requirements and deadlines surrounding PST filings.
COVID-19: More breathing room for employers?
The federal government made several tax changes in recent weeks, to provide COVID-related economic relief to small businesses and employers.
The Fish Harvester Grant and Benefit: What you need to know
To help weather the effects of the pandemic, the Government of Canada recently introduced two new financial assistance programs.
The Canada Emergency Wage Subsidy rules have changed.
On July 17, 2020, the federal government introduced proposed changes to the Canada Emergency Wage Subsidy (CEWS) rules.
Support for New Brunswick businesses, workers and families
The province of New Brunswick has announced a series of economic measures to build on the federal government’s COVID-19 Economic Response Plan.
CRA relief on international tax issues caused by COVID-19 extended
In light of the travel restrictions introduced in Canada and around the world as a result of COVID-19, certain international tax rules and processes have been impacted.
Federal government releases its fiscal snapshot
Finance Minister Bill Morneau has released a “fiscal snapshot” on federal spending and the overall economic impact of the COVID-19 pandemic.
Canada’s COVID-19 response: Province-by-province support for businesses and employers
In response to COVID-19, Canada’s provincial governments have provided measures to support the federal economic response plan.
COVID-19 support: Provincial response for individuals
Beyond the federal measures introduced in the wake of COVID-19, Canada’s provinces are also offering a range of support to help employees and individuals navigate the ongoing pandemic.
Support measures for agriculture, agri-food, aquaculture and fisheries businesses
This summary outlines the various new measures for employers and employees in the agriculture, agri-food, aquaculture, and fisheries industries.
Claiming home office deductions during COVID-19
Here we breakdown what you need to know about eligible deductions and answer some commonly asked questions.
Rental relief for small businesses: Canada Emergency Commercial Rent Assistance (CECRA)
As part of the federal government’s economic response plan to COVID-19, the Canada Emergency Commercial Rent Assistance (CECRA) is intended to provide rent relief for small businesses.
COVID-19 update: Summary of federal measures for Canadians
The federal government passed measures to assist both Canadian employers and employees during the COVID-19 pandemic.
The CARES Act: What US citizens need to know during COVID-19
The $2 trillion relief package provides support to individuals, businesses and government organizations during the COVID-19 pandemic.
What US employers should know about new COVID-19 regulations
To provide relief for US taxpayers, assist employees affected by COVID-19 and bolster US businesses, the US government has released a range of new tax measures and regulations.
Support for PEI businesses, workers and families
On March 16, PEI’s government allocated $25 million to the Emergency Contingency Fund and then increased it by an additional $15 million on April 3.
Help for Canadian businesses and employees, including 75% wage subsidy
This summary provides the latest details available up to April 1, 2020 for the programs announced by the Canadian government to help Canadian businesses and employees.
Global mobility: International employee considerations during COVID-19
Canadian businesses implementing new work arrangements during the COVID-19 pandemic may face heightened tax risks – particularly those with international employees.
What employers and employees should know
The federal government has announced several economic measures to assist employers and their employees as a response to the COVID-19 pandemic.
Federal government: Additional resources for businesses
On March 25, 2020, the federal government passed legislation that would provide support for millions of Canadians who are impacted by the economic effects of COVID-19.
Federal government announces measures to combat economic impact of COVID-19
Here’s what you can expect as new filing and payment deadlines apply.
Alberta responds to COVID-19
Alberta’s provincial government has recently announced several support measures to mitigate some of the damaging effects being felt locally as a result of the global COVID-19 pandemic.
COVID-19 and your business: Government and economic resources
The business environment is changing rapidly due to the unfolding COVID-19 situation.
Support for Ontario businesses, workers and families
The Province of Ontario has announced a series of tax changes and financial measures to build on the federal government’s COVID-19 Economic Response Plan.
Support for BC businesses, workers and families
British Columbia has announced a series of tax changes and financial measures including $5 billion in income support, tax relief and direct funding for people, businesses and services.
Significant help for businesses
On March 27, Prime Minister Trudeau announced measures aimed at helping all Canadians — whether a business or an employee — address their immediate cash flow needs.
Support for your employees
Working from home: Securing your new workplace
Working from home is the “new normal” for many businesses and their employees. We’ve assembled an essential guide for you.
What employers and employees should know
The federal government has announced several economic measures to assist employers and their employees as a response to the COVID-19 pandemic.
COVID-19 Update: To our valued clients
The present COVID-19 crisis has created a challenge that none of us could imagine just a short time ago. Our most immediate priorities are the safety of our colleagues and supporting our clients in any way we can.
Read the full update from Kevin Ladner, Executive Partner and Chief Executive Officer
We are committed to helping our clients, colleagues and communities, as we all try to navigate the impacts of COVID-19.
Where to go for information
- World Health Organization
- Canadian Government – Public Health
- Canadian Government – News
- Business Development bank of Canada
- Export Development Canada
- Employment and Social Development Canada (Work-sharing)
- Employment and Social Development Canada (Employment Insurance)
- Prime Minister’s Office – Latest Updates
