CEBA

[Maver]

My accountant advised against applying for it. Like others have stated, you have to prove hardship and you will have to show them where the money went, according to the fine print. You also can't increase the dividends or wages you pay yourself or shareholders over the next 2 years. By taking the money they get a look at your books. And they threaten penalties if they don't approve of the way you spent the money. Whether any of this will be monitored or enforced is anyones guess.

[farmaholic]

So the "details are in the vagueness?

They'll make up the rules as they go?

Do people realize they lowered the bar to qualify? Better check this out,

http://www.google.com/url?sa=t&source=web&rct=j&url=https://ceba-cuec.ca/&ved=2ahUKEwia86qJ5dDqAhUumnIEHZ4WCDAQFjAAegQIBBAB &usg=AOvVaw1OpRsR1qwoQqB8tePuH9AG&cshid=1594868831 606

The net got bigger not smaller.

[Rareearth]

Penalties, collections etc should be easy.

Hire WE to administer the program, use volunteers to collect and police, pay them 20% commission

[tweety]

Unless you can certify "charity" status, meaning you have held a liberal pre election booster club event. It might be best not to apply.

Easiest 10k ever. Online with Scotiabank - or any bank, fill in your BN, 2019 taxable income, scan a couple documents that show you had 40k in expenses, hit upload in the page to the program. Use rent, interest, Crop ins, whatever.

Spend the money and don't repay till December to qualify for the 25% grant. Grant is based on borrowed amount so if you pay back 20k before December you only get 5k grant, don't do that.

[blackpowder]

Some of the easiest money is in the paperwork. Your competition is doing it.

[AlbertaFarmer5]

So there is no criteria for proving hardship due to Covid ? We won't have to pay it back with penalties and interest We can't prove that we had hardship due to COVID? My banker doesn't seem to think this could happen.

[tweety]

So there is no criteria for proving hardship due to Covid ? We won't have to pay it back with penalties and interest We can't prove that we had hardship due to COVID? My banker doesn't seem to think this could happen.

The hardship thing is not valid:

What are the eligibility requirements for the CEBA?

The Borrower is a Canadian operating business in operation as of March 1, 2020.
The Borrower has a federal tax registration.
The Borrower’s total employment income paid in the 2019 calendar year was between Cdn.$20,000 and Cdn.$1,500,000. For applicants with Cdn.$20,000 or less in total employment income paid in the 2019 calendar year:
The Borrower has a Canada Revenue Agency business number and has filed a 2018 or 2019 tax return.
The Borrower has eligible non-deferrable expenses between Cdn.$40,000 and Cdn.$1,500,000. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance. Expenses will be subject to verification and audit by the Government of Canada.
The Borrower has an active business chequing/operating account with the Lender, which is its primary financial institution. This account was opened on or prior to March 1, 2020 and was not in arrears on existing borrowing facilities, if applicable, with the Lender by 90 days or more as at March 1, 2020.
The Borrower has not previously used the Program and will not apply for support under the Program at any other financial institution.
The Borrower acknowledges its intention to continue to operate its business or to resume operations.
The Borrower agrees to participate in post-funding surveys conducted by the Government of Canada or any of its agents.

[furrowtickler]

Easiest 10k ever. Online with Scotiabank - or any bank, fill in your BN, 2019 taxable income, scan a couple documents that show you had 40k in expenses, hit upload in the page to the program. Use rent, interest, Crop ins, whatever.

Spend the money and don't repay till December to qualify for the 25% grant. Grant is based on borrowed amount so if you pay back 20k before December you only get 5k grant, don't do that.

Lol , do you actually think this is a good thing ?
Holy *** , our kids will be paying for this “windfall” for decades
WHo the *** is going to pay for this crap ??
90% of the people , obviously like you , don’t need a red cent . But free money let’s take it
Pandora’s box now wide open on our kids and grandkids .
Feel proud of yourselves

[furrowtickler]

Someone, sometime is going to pay dearly for this
And Canada only made the majority of its wealth from natural resources which the liberals have completely ***ed over .
Makes me sick to think of it

[macdon02]

Fwiw, this might be the last "loan" we ever get. Just my opinion. The govt might not be able to borrow again. Sounds weird, but how far do they have to go, to get over the edge