CEBA

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CEBA

Jul 15, 2020 | 11:59 1 Are the cheque’s rolling in? Reply With Quote
Jul 15, 2020 | 12:16 2 Has anyone tried to apply for this as a farmer? Reply With Quote
Jul 15, 2020 | 12:21 3 I did. Waiting for just about two weeks. Says 10 to 15 business days. Went the expenses route as I don’t have t4 employees. Buddy with employees and t4 went that route and was in his account in 2 days. Reply With Quote
Jul 15, 2020 | 12:38 4
Quote Originally Posted by WiltonRanch View Post
I did. Waiting for just about two weeks. Says 10 to 15 business days. Went the expenses route as I don’t have t4 employees. Buddy with employees and t4 went that route and was in his account in 2 days.
Through an accountant, or is it straightforward without? Do you have to justify hardship due to Covid? Reply With Quote
Jul 15, 2020 | 13:15 5 I can not understand why they didnt run this for farmers through FCC most people....then it would have stopped the multiple companies on the same land getting some and others like sole proprietors getting SFA or making it difficult....


My MP sends me that the rules have changed but it isn't as easy as applying for CERB but it should be. Reply With Quote
Jul 15, 2020 | 18:07 6
Quote Originally Posted by AlbertaFarmer5 View Post
Through an accountant, or is it straightforward without? Do you have to justify hardship due to Covid?
Just remember that you in 2 years or sooner you will have to demonstrate financial hardship to prove entitlement. I sure didn't like Kevin Hursh's latest article blanketly saying "don't leave it on the table".

All the gov't programs were designed in a way to avoid a lengthy application process that would bod down the system and increase processing times. I personally believe many of the $2000 per month payments will be clawed back and this $40,000 loan is another example that will be a nice surprise repayment with 10% interest from date of issue. This loan was really created for businesses that had to shut down in March. Grain farms have not suffered substantially from Covid 19 yet, cattle, hogs, fruits/veggie farms a much different story.

I have a friend in a private business that has applied and is receiving compensation of the wage subsidy. He said the process to apply was detailed and had very specific measurements that determined the amount of wage subsidy allowed. Receiving $40,000 just because you had $20,000+ in salaries is just like the CERB program, everyone can apply, only a certain % are truly eligible

Be careful is my comments.

Let the pouncing on my opinion begin! Reply With Quote
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  • Jul 15, 2020 | 18:18 7
    Quote Originally Posted by AlbertaFarmer5 View Post
    Through an accountant, or is it straightforward without? Do you have to justify hardship due to Covid?
    You start the process through your online banking. You finish the process by uploading supporting documents to prove your qualification to a gov’t site.

    I write software for a living and use that to cover my year after year swamp farming losses. I had to leave Calgary early this year when it shut down, going back this fall isn’t going to happen.
    Last edited by Dr Tone; Jul 15, 2020 at 18:22.
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    Jul 15, 2020 | 18:21 8
    Quote Originally Posted by Richard5 View Post
    Just remember that you in 2 years or sooner you will have to demonstrate financial hardship to prove entitlement. I sure didn't like Kevin Hursh's latest article blanketly saying "don't leave it on the table".

    All the gov't programs were designed in a way to avoid a lengthy application process that would bod down the system and increase processing times. I personally believe many of the $2000 per month payments will be clawed back and this $40,000 loan is another example that will be a nice surprise repayment with 10% interest from date of issue. This loan was really created for businesses that had to shut down in March. Grain farms have not suffered substantially from Covid 19 yet, cattle, hogs, fruits/veggie farms a much different story.

    I have a friend in a private business that has applied and is receiving compensation of the wage subsidy. He said the process to apply was detailed and had very specific measurements that determined the amount of wage subsidy allowed. Receiving $40,000 just because you had $20,000+ in salaries is just like the CERB program, everyone can apply, only a certain % are truly eligible

    Be careful is my comments.

    Let the pouncing on my opinion begin!
    I think you are very correct
    Most of this Covid cash is going into seadoos, boats , RV’s and all kinds of useless stuff.
    Proves how completely wrong most of this is .
    Yes some need it , majority don’t
    And our kids and grandkids will be paying for this because Canada has killed its resource revenue under the liberals . Reply With Quote
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  • Jul 15, 2020 | 19:27 9 I think the worst they will do is make you repay the entire amount, no forgiving $10,000 of the loan, and no interest charges.

    When there is no real "means test" before the fact it is pretty hard to enforce one after the fact.

    Define "need".

    Want to take this a step further.... good luck collecting the $30,000 from businesses who took it and later closed their doors knowing they will never re-open.

    If they wanted to ensure there was no program abuse or no chance of ever collecting....maybe it shouldn't have been handled( handed out ) in such a knee-jerk way.

    Then there is all the other money just handed out with no strings attached. How can they expect one group to jump though flaming hoops and others to just collect cash to stay home and watch Netflix as bucket would say?

    Farmer's collectively spent billions(?) seeding a crop and doing their part to keep the economy sputtering along.....and someone is going to worry about a paltry sum of $10,000 per farm? Don't forget this crop needs to be harvested along with all the Industry supporting expenses too..

    My goodness.... Reply With Quote
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  • Jul 15, 2020 | 20:07 10 Unless you can certify "charity" status, meaning you have held a liberal pre election booster club event. It might be best not to apply. Reply With Quote
    Jul 15, 2020 | 20:51 11 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. Reply With Quote
    Jul 15, 2020 | 21:08 12 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. Reply With Quote
    Jul 15, 2020 | 22:06 13 Penalties, collections etc should be easy.

    Hire WE to administer the program, use volunteers to collect and police, pay them 20% commission Reply With Quote
  • 1 Like


  • Jul 16, 2020 | 21:03 14
    Quote Originally Posted by macdon02 View Post
    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. Reply With Quote
    blackpowder's Avatar Jul 16, 2020 | 21:39 15 Some of the easiest money is in the paperwork. Your competition is doing it. Reply With Quote
    Jul 16, 2020 | 22:05 16 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. Reply With Quote
    Jul 16, 2020 | 22:24 17
    Quote Originally Posted by AlbertaFarmer5 View Post
    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. Reply With Quote
    Jul 16, 2020 | 23:16 18
    Quote Originally Posted by tweety View Post
    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 Reply With Quote

  • Jul 16, 2020 | 23:28 19 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 Reply With Quote

  • Jul 17, 2020 | 03:07 20 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 Reply With Quote
  • 1 Like


  • Jul 17, 2020 | 04:30 21
    Quote Originally Posted by macdon02 View Post
    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
    We’re kind of in the territory of “we’re going to have to pay for it for the rest of our lives whether we take it or not so we’d better take it and use it to prepare for the coming shitstorm” Reply With Quote
  • 1 Like


  • Jul 17, 2020 | 06:22 22
    Quote Originally Posted by macdon02 View Post
    Unless you can certify "charity" status, meaning you have held a liberal pre election booster club event. It might be best not to apply.
    Yes that is well said. I was thinking about applying for it , strictly to update a few peices of machinery, but as a sole proprietor , do I qualify? I am of the opinion that the less the Govt. ( especially this one ) knows about our farm operation the better ! We will keep rolling without it . Reply With Quote

  • Jul 17, 2020 | 06:32 23 I woùldnt worry about the money you receive from any program,, it's all the money that other people are getting that have no ways, means or requirements of ever paying it back that will hurt us.

    There is a difference. Reply With Quote
    Jul 17, 2020 | 07:13 24 FFS you guys.... there are wannabe irrigation farmers that are going to get the governments to stick a million dollars a quarter into their farm and zero ROI to the taxpayer.....

    And you are bickering about 40000 for a sole proprietor. ..take the money for phuck sakes....

    There are farms with so many numbered companies on it that they are receiving multiple times the 10000 free money....they will get 40000 or more in free money ....while some guys can't get the 40000 for the same number of acres. ...
    Last edited by bucket; Jul 17, 2020 at 08:15.
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    Jul 17, 2020 | 08:36 25
    Quote Originally Posted by furrowtickler View Post
    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
    You and I are going to pay dearly for this, and it will be in the 2020 income tax filing. So at least get 10k up on it and spend it on something special to enjoy this short time on the planet we have.

    Open your hand and take the money. Reply With Quote
    Jul 26, 2020 | 10:32 26 July 23 Western Producer reports there has been 690,000 approved applications for the $40,000 CEBA loan.

    That's 27.6 billion loaned out of which 6.9 billion is supposed to be forgiven if $30K per applicant is paid back on time.

    How much of the $30K per applicant will never be paid back...... EVER.

    Probably not too many farms compared to other businesses are part of the 690,000 applicants.

    That's alot of economy stimulating helicopter money being thrown around, and that doesn't include all the other Covid -cash programs.

    SCARY. Reply With Quote
    Jul 26, 2020 | 10:46 27
    Quote Originally Posted by farmaholic View Post
    July 23 Western Producer reports there has been 690,000 approved applications for the $40,000 CEBA loan.

    That's 27.6 billion loaned out of which 6.9 billion is supposed to be forgiven if $30K per applicant is paid back on time.

    How much of the $30K per applicant will never be paid back...... EVER.

    Probably not too many farms compared to other businesses are part of the 690,000 applicants.

    That's alot of economy stimulating helicopter money being thrown around, and that doesn't include all the other Covid -cash programs.

    SCARY.
    What happens if the business goes bankrupt or closes permanently before this is all over? I can see it happening maybe is already. Reply With Quote
  • 1 Like


  • Jul 26, 2020 | 10:50 28
    Quote Originally Posted by farmaholic View Post
    July 23 Western Producer reports there has been 690,000 approved applications for the $40,000 CEBA loan.

    That's 27.6 billion loaned out of which 6.9 billion is supposed to be forgiven if $30K per applicant is paid back on time.

    How much of the $30K per applicant will never be paid back...... EVER.

    Probably not too many farms compared to other businesses are part of the 690,000 applicants.

    That's alot of economy stimulating helicopter money being thrown around, and that doesn't include all the other Covid -cash programs.

    SCARY.
    Exactly, and there is a lot of people who absolutely don’t need this money but are taking it , Tweety comes to mind .
    This will completely screw our kids and grandkids.
    But hey RV dealerships smiling ear to ear right now .
    Have fun while it last , this will cost us all for over a decade Reply With Quote
    Jul 26, 2020 | 10:51 29 We all complain about politicians being pigs at the trough taking taxpayers money ... most of this is no different. Reply With Quote
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  • Jul 26, 2020 | 10:55 30 Seems Covid might be used as an excuse to prop up what may have already been a floundering economic environment before the virus actually hit.

    In the loooong run, this will have more of an economic impact than a health impact.
    People are going to die, but all we've done is postpone some inevitable casualties of it. Reply With Quote