UPDATE APRIL 20: Canada Emergency Business Account (CEBA) - Loan for Businesses/Non-Profits

[@kostyantynustinov2901]

When CEBA loan program will finish

[@kostyantynustinov2901]

Hi Guys, Do you know until when CEBA LOAN PROGRAM will available, when the program will finished?Thanks

[@YouCounsel]

I believe you can apply for CEBA until August 31, 2020.

[@shawnbraian5857]

Why ceba asking for full payment by end of this year what happened to %25 forgiveness again government start to lie to people

[@kingskrins3147]

How new business that open in 2020 qualify for Loan as we do not have any payroll in 2019??

[@YouCounsel]

Please check out this link to discover other programs that may be helpful: www.canada.ca/en/department-finance/economic-response-plan.html#businesses

[@jimbeale7870]

Hello, I still don’t see the change to eligibility question for self employed business owners. I take taxable income from my corp and also pay a contractor to do my book keeping/accounting. Neither payout creates a T4 Summary, but rather a T4A Summary that is not accepted by the online application. My bank says they can’t do anything with the application to help me along. Are they making this change?

[@AebleBusinessServicesInc]

It might be best to contact your MP so they are aware of the types of businesses that have been excluded and advocate on your behalf.

[@YouCounsel]

No, I don't believe such a change is presently in the works.

[@ridewhistler5836]

@Chris you can't apply without a T4.

[@kenacycle]

If for example I only used $10,000 up to the conversion date of December 31,2020.. Will my loan be reduced to only $10,000 and I just have to pay back $7500 (75%) by December 31, 2022 and keep the $2500 (as forgiven)?

[@YouCounsel]

Correct.

[@kenacycle]

@@YouCounsel Do you know how the money is to be paid back? Sending a cheque or money transfer back to Receiver General of Canada?

[@obaidullahkhan1684]

Do you know how to apply for cesb?

[@Dino6461]

I have a registered business corporation which fills out T2 income tax returns at year end. The business pays me payroll to me. The payroll amount is declared on lines 162 (and 135) of my T1 return. The business doesn't officially issue a T4SUM. Am I eligible ? If not, what do I have to do to be eligible as I have not filed corporate taxes for 2019.

[@YouCounsel]

Sorry, I don't know. You may want to check this with your accountant or your bank.

[@sameergarg5557]

Hi sir if i was working and i quit and then started another job simultaneously do i eligible for CERB

[@YouCounsel]

yes, if your second job is stopped due to COVID-19 and you meet other eligibility conditions.

[@sameergarg5557]

You Counsel my second job i left

[@sameergarg5557]

You Counsel the second not stopped

[@zaidali5139]

what if I am a sole proprietorship, I have employees on sub contractors status? I also get taxed at the end of the year on my own earning which is neither of $20,000. would I be eligible?

[@Mastercommander-zw6iy]

@@YouCounsel yay

[@birindersingh4246]

I have questions u guys can help . I have organization opened on dec 6 2019 . So I don’t have pay roll of 20000 as business just opened in dec 2019 but as of now it has 20000 plus pay . So am I eligible

[@harryharvi4693]

Hi, I wanted to ask, if I’m getting disability benefits but am still doing seasonal work which was just canceled because of covid-19 will I still be eligible for both benefits? I was still employed but now that income has stopped.

[@YouCounsel]

I am not sure whether you can keep both payments - ODSP and CERB. You may want to check with CRA.

[@caroleng8178]

Hi, awesome video! I own a HVAC business and paid over 20k for subcontractors/seasonal workers in 2019. Since they weren't on payroll, am I eligible? I'm aware that it wasn't and I'm hoping the government had changed the criteria. Many thanks in advance!

[@AebleBusinessServicesInc]

Eligibility for this specific program is based on T4 income paid out. Specifically Box 14 on the T4 Summary.

[@caroleng8178]

Aeble Business Services Inc. Thank you for your reply!!