UPDATE JUNE 22: Canada Emergency Business Account (CEBA) - Loan for Businesses/Non-Profits

[@1a1b1cd]

my 2019 payroll was less than 20K but expenses were around 30K+. In 2020, I am expecting my payroll (paying myself and contractors) to go up around 100K+ and other expenses around 30-40K+, can I include my own salary of 2020 in the expenses when I apply for CEBA for category less than 20K in 2019?

[@mattfindler8072]

Why do we need a business bank account? So frustrating

[@YouCounsel]

I completely agree. I am hoping they will eliminate this requirement in the next round of expanding the eligibility requirement.

[@northern1937]

I'm a sole proprietor that operates thru my personal account so I guess I'm screwed too

[@rajahandsome1]

Hi, I have sole proprietorship Master business license number running since 2018 and we filled taxes since then, all the criteria’s are me but I dont have CRA business number, is that mandatory or if I register now should I be eligible?

[@YouCounsel]

My understanding is that the CRA business number is necessary. You should check with CRA to confirm.

[@amalsleiman6048]

My husband opened his business in aug 2019 and he pay himself, but his payrol for 2019 was less than 20.000 His tax return is next month july, so rent to he pays and salary he pays himself ( payrol ) is enough for the proof of expenses?!

[@YouCounsel]

The documentary requirements for businesses with payroll less than $20,000 would likely be more stringent. You should contact your financial institution to determine what kind of documents would be sufficient to get this loan.

[@mustafaalnajjar5753]

Hi Amer, many thanks for the very useful information you are providing. I've have question on what are my chances to become a licenced lawyer in canada. I know that there are much details online, but I need a short answer regarding what I have to study there? Now, I work with an international law firm in Dubai as legal researcher. I have law degree from Syria, and planning to move to Canada.

[@YouCounsel]

If you intend to practice law in Canada, my sincere advice is to obtain admission in a Canadian law school and re-do your law degree here.

[@mustafaalnajjar5753]

Thank you,

[@managementboard6905]

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[@managementboard6905]

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