ACTA's 16APR Webinar To Feature Info On Gov't Financial Relief Programs
Anna Kroupina, Open Jaw
ACTA will host a webinar on Thursday, April 16 at 1:30 pm featuring ACTA President, Wendy Paradis and Senior Accountant, Mike Libbey, from Your Bottom Line to give an update on government relief programs for businesses and workers.
The following programs and developments will be discussed in detail:
Canada Emergency Response Benefit (CERB)– The application portal is now open and travel agents, including independent travel agents, who are no longer earning income due to COVID-19 can apply to receive $2,000 per month through the Canada Revenue Agency portal.
Canada Emergency Wage Subsidy (CEWS)– Parliament passed the COVID-19 wage subsidy bill on Saturday, April 11, 2020. Travel businesses of every size, across every region of the country have access to this subsidy.
Eligibility: Your business must have experienced a loss in revenue. For March, you will have to show a 15% drop in gross revenues. For April and May, you will need to show a 30% drop in gross revenue drop to qualify.
Reference point for revenue loss: Businesses have the option of using January and February 2020 as reference periods to show revenue loss, or the year-over-year March, April and May 2019 to 2020 comparison.
Application: The application portal is expected to be opened in two to four weeks. The wage subsidy will be backdated to March 15.
Canada Emergency Business Account (CEBA)
On Thursday, April 9, the CEBA was launched through the government’s Business Credit Availability Program. This program is designed for small businesses to help cover operating costs during a period where revenues have been temporarily reduced. To qualify, businesses will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019.
Canada Summer Jobs program - The Prime Minister announced changes to the Canada Summer Jobs program, which will help small businesses hire and keep the workers so they can continue to deliver essential services.
Anna Kroupina Journalist
Anna is OJ's newest member and she joins the team as a writer/reporter. She co-writes the daily news and covers events. Although she's new to the industry, pursuing a career path in travel/tourism has been a goal since her first family road trip to the Florida Keys sparked a desire to discover the world and this exhilarating, fast-paced industry.