CRA announced on July 30, 2021 an extension to a number of the business benefits programs that were introduced in response to COVID-19. These extensions included the following:
1. Extension of the eligibility period for the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and Lockdown Support until October 23, 2021, and increasing the rate of support employers and organizations can receive during the period between August 29 and September 25, 2021
2. Extension of the Canada Recovery Benefit (CRB), the Canada Recovery Caregiving Benefit (CRCB), and the Canada Recovery Sickness Benefit (CRSB) until October 23, 2021
3. An increase to the maximum number of weeks available for the CRB, by an additional four weeks, to a total of 54 weeks, at a rate of $300 per week, and ensuring it is available to those who have exhausted their employment insurance (EI) benefits
There is also some discussion into the proposed changes to how the eligibility and revenue calculations to receive the above is handled. Please follow this blog to stay up to date on the latest developments and read more at: https://www.cpacanada.ca/en/business-and-accounting-resources/taxation/canadian-tax-news
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