WebOct 26, 2024 · In addition to a specialized program for the tourism and hospitality sector, the government has also introduced another new business-support program: the Hardest-Hit Business Recovery Program, which will provide wage and rent subsidies from October 24, 2024, until March 12, 2024, continued thereafter, albeit on a reduced basis, until May 7, … WebNov 19, 2024 · On November 19, 2024, the new federal Canada Emergency Rent Subsidy (“CERS”) was enacted into law by Bill C-9, An Act to amend the Income Tax Act (Canada Emergency Rent Subsidy and Canada Emergency Wage Subsidy) receiving Royal Assent. The CERS takes effect as of September 27, 2024 and continues to June 2024.
COVID-19 Subsidies – Explanatory Notes Relating to the Income …
WebNov 2, 2024 · The rent subsidy is included in income immediately before the end of the qualifying period to which it relates, as is the Canada Emergency Wage Subsidy (CEWS), as per s. 125.7 (3) of the Income Tax Act. For example, the subsidy for the 4 weeks ending October 24, 2024 is included in income on October 24, 2024, not when it is received. WebOct 19, 2024 · The most popular pandemic-relief programs for business have been the Canada Emergency Rent Subsidy, or CERS, and the Canada Emergency Wage Subsidy, or CEWS – set to expire for most sectors on ... firefox fixings
New Canada Emergency Rent Subsidy (CERS) - Retail Council
WebMar 25, 2024 · A CEWS audit could therefore precipitate a review of other tax matters disclosed in connection with the claim. The same can be said for the Canada Emergency Rent Subsidy as well as the new Canada Recovery Hiring Program announced in Budget 2024, which raise similar audit questions and could involve substantial claims. ... WebJul 28, 2024 · The CEWS maximum base wage subsidy rate and top-up subsidy rate will remain at 40% and 35%, respectively for a total maximum subsidy rate of 75% in period 17. The total maximum subsidy rates decrease in period 18 to 60%, and further decrease to 40% and 20% in periods 19 and 20, respectively. CEWS – Revenue Decline Reference … WebNov 5, 2024 · The government tabled its much-anticipated legislation, Bill C-9, which will … firefox five billionth search