Eligibility expanded for the Canada Emergency Business Account

In this morning’s daily briefing, Prime Minister Justin Trudeau announced a significant expansion of the eligibility criteria for the Canada Emergency Business Account (CEBA).

“Today I can announce that we are expanding the eligibility for the Canada Emergency Business Account,” Trudeau said. “If you are the sole owner and 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. For example, for a hair salon owner with stylists who rent chairs, for a local physiotherapist, for an independent gym owner with contracted trainers, this is for you. We’ll have more details very soon about when you’ll be able to apply, but we heard you when you said you needed a hand.

“That’s why Minister Ing is also working on potential solutions to help business owners and entrepreneurs who operate through their personal bank account as opposed to a business account or have yet to file a tax return, such as newly created businesses.

“Businesses like yours are the backbone of our economy and the lifeblood of our communities, and with the Canada Emergency Business Account, we’re in your corner.”

Trudeau also stressed the importance of the the Canada Emergency Wage Subsidy, which was recently extended through the summer.

“This is about getting people back to work and giving businesses the confidence to reopen, rehire and even grow because this is how our economy will recover and the way our country will remain resilient and successful. As we are getting Canadians back to work, many business owners are already benefiting from this program to rehire and maintain the crucial link between workplace and employee. To employers looking to start up again: please rehire your workers. Use the Wage Subsidy for their paycheque. That’s what it’s there for.” ■

For official info from the Government of Canada on COVID-19 / Coronavirus, click here.

Please visit our News section for more updates on COVID-19 / Coronavirus.

To read the latest issue of Cult MTL, click here.