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IMPORTANT NOTICE

Attention: Wexford Heights BIA Business MembersIn light of the ongoing COVID-19 Pandemic crisis, it was the decision of the Wexford Heights BIA’s Board of Management to cancel this year`s Taste of Lawrence Festival. The event to resume in July 2021.
The health and safety of all concerned is the upmost importance to the Wexford Heights BIA as we all do our best to get through this crisis together.

Friday, 27 March 2020 13:02

Can a small business person collect $2,000?

Here I go again, this is a question that has been a hit and miss for the last few days but at last I believe there is an answer, please note that like with all things now days one doesn’t know for sure until they apply. 

Is  a small business owner eligible for the $2,000 temporary wage subsidy

The following is form a Video Tax News provided by a tax advisor; 

In order to be eligible, the employer must meet three criteria:

  • employ one or more individuals in Canada (“eligible employees”);
  • was registered, with a business number and a payroll remittance account, on March 18, 2020; and
  • be any of the following:

o    most Canadian-controlled private corporations (CCPCs), based on eligibility for the small business deduction (see below);

o    an individual (other than a trust);

o    a partnership, all members of which are entities described in (i), (ii), (iii) or (v) (it is not clear why (iv) is excluded);

o    a non-profit organization (exempt from income tax pursuant to Subsection 149(1)(l)); or

o    a registered charity.

 

Well it looks like we finally have some understanding, meaning any small business person who had one or more employees beyond them selves and who operated their business properly/legally and was registered is eligible for the temporary wage subsidy.

I hope this helps.

Cheers,

JJK