Close-up of someone looking at a smart phone in front of a window

MNP WEBINAR: Available COVID-19 Financial Aid Programs

April 20, 2020

MNP WEBINAR: Available COVID-19 Financial Aid Programs

Synopsis
1 Minute Read

With the House of Commons recently passing the COVID-19 Wage Subsidy bill, we want to ensure you have the latest updates, as well as other relevant information on additional financial aid programs.

With the House of Commons recently passing the COVID-19 Wage Subsidy bill, we want to ensure you have the latest updates, as well as other relevant information on additional financial aid programs. Scroll down to view our webinar from April 8th that outlines changes to the Subsidy, as well as a summary of the Work-Sharing Program and status of SR&ED.

Wage Subsidy Program - 0:09

1:04 - Eligibility Criteria - Relaxed Requirements
5:10 - Application Process
6:39 - Temporary Wage Subsidy
8:13- How to Calculate Revenues
10:34 - Limits to the Subsidy
11:01 - Claiming Periods

Work-Sharing Program - 13:09

13:41- Eligibility Criteria
17:02 - Key term "Work-Sharing Units"
18:08 - Minimum Thresholds
20:08 - Strategy Behind Application
21:56 - What Benefit is the Government Offering?

SR&ED - 25:51

26:39 - Comfort Letter
27:54 - 18 Month Deadline & Double Dipping

For More Information Contact the Presenters:

Jeanne Cheng, CPA, CA - Partner and Regional Tax Leader
E: [email protected] 

Tanner MacDonald – Senior Consultant, Strategy & Operations
E: [email protected] 

Neha Tiku, CPA, CA - SR&ED Leader, Ontario Region
E: [email protected] 

Reece Hiland, CPA, CA - Partner, Assurance & Accounting | Technology, Media & Telecommunications
E: [email protected] 

Learn more at MNP's COVID-19 Business Advice Centre

Strategies and tools to help your company navigate the coronavirus crisis, stay resilient and take the next steps towards recovery.

Insights

  • Stack of brand new tractor tires

    July 30, 2021

    New tax incentive on equipment purchase provides immediate benefit

    Federal Budget 2021 provides an upfront tax incentive for Canadian-controlled private corporations (CCPC) to undertake significant capital asset puchases. It does so by allowing for the immediate deduction of up to $1.5 million of certain depreciable property purchased from arm’s-length parties between April 19, 2021, and January 1, 2024.

  • Confidence
    Holding a portfolio on one hand, comparing data on another

    July 28, 2021

    How to optimize value from an Internal Audit co-sourcing partnership

    Co-sourcing your internal audit function can help you navigate several contemporary challenges — including the need for greater agility and subject matter expertise, as well as cost and resourcing pressures. Here we investigate practical steps to find the right vendor and make this relationship as seamless, targeted, and cost effective as possible.

  • Progress
    person reviewing graphs on their phone

    July 26, 2021

    Automating finance, so you can focus on your business

    Cloud accounting and bookkeeping solutions allow you to focus on the critical parts of your business instead of shuffling through paperwork every week.