1. Provincial taxes – PST, Employer Health Tax, Municipal and Regional Tax. These payment of taxes and filing or returns has been deferred until September 30th.
2. GST, HST and Duties – these payments have been deferred until June 30th as follows:
   1. For GST/HST
      1. Monthly Filers – can defer amounts needing to be remitted for their February, March and April 2020 reporting periods
      2. Quarterly Filers – can defer amounts needing to be remitted for their January 1 to March 31, 2020 reporting period
      3. Annual Filers – can defer amounts needing to be remitted or instalments which would be due in March, April, May 2020
   2. For Duties – can defer amounts which would be due March, April and May

1. Emergency Wage Subsidy
   Eligible companies which are not publicly funded and not-for-profit are those who have seen revenues decrease at least 30% due to Covid 19 compared to the same month last year for March, April and May.  You will need to reapply each month.  Subsidy will be up to 75% on the 1st $58,700 of annual earnings which corresponds to up to $847 per week of subsidy.  This has been back dated to March 15th and is available for up to 3 months.  When making the application you will be required to attest you are doing everything possible to pay the other 25% but the system will be flexible.  Applications will be made online within the next 3 to 6 weeks once the portal has been developed.  Funding will be available in approximately 6 weeks with all businesses encouraged to register now to get onto Direct Deposit to assist with quicker funding.  Special rules apply for employees the company does not deal with at arm’s length.  This is not available for employees who are on the Emergency Response Benefit (described later below.)   There will be severe consequences  to those committing fraud or taking advantage of or gaming the situation including failing to flow the amounts out to employees.  Applications opened April 27th.

   OR if you do not qualify for the Emergency Wage Subsidy you likely will qualify for the Temporary Wage Subsidy

2. Temporary Wage Subsidy
   This is directly taken off of your payroll remittance for the next 3 months and is equal up to 10% of remuneration to employees this has been back dated to March 15th (maximum of $1,375 per employee and $25,000 per employer) details of how to calculate can be found here.  If you do qualify for the 75% Wage Subsidy you will still take the 10% Wage Subsidy first off of your payroll remittance (income tax withheld, not CPP or EI), your 75% wage subsidy payment from the Government will be reduced by the 10% not remitted with the payroll remittance.

1. Canada Emergency Business Account  (Program has expanded as of May 20th) – you need to contact your financial institution to get a Government sponsored loan of up to $40,000 interest free loan for the 1st year  available to small businesses and not-for-profits.  For some companies and proprietorships that did not meet the requirements they now likely will qualify with the expanded eligibility criteria.  Details can be found here.  If the loan is repaid prior to December 31, 2022 then 25% of loan amount will be forgiven (up to $10,000).
2. Defer business term loan payments – ask them for a deferral of payments on your business term loans for as long as they will allow (please note the banks are going to be overwhelmed by inquiries, if you cannot get through to them you may want to consider causing the loan payments to not go through)
3. Defer personal mortgage payments for up to 6 months – request the 6 months of deferral on your personal mortgage (again the banks are going to be overwhelmed with requests, you may need to force the situation.  Consider not waiting for their permission if they are not getting back to you.)
4. Apply for an increase to your Line of Credit to give you extra working capital
5. Discuss with your banker other deferral options available for other loans and credit cards, or increasing credit limits

Applications begin April 6th but to avoid overloading the system, applications will be staggered as follows April 6th for those with birthdates in January to March, April 7th for birthdates in April to June, April 8th for those with birthdates in July to September and April 9th for those with birthdates in October to December.  Benefits are expected to be received within 3 to 5 days from the date of application.