Hello Readers: In the past I have addressed this column to ordinary people, but in this article I am focusing on businesses.

This epidemic has caused a significant upheaval and in lots of ways has forced one to rethink the business model as to how one delivers the products and services offered.

This rethink should look at all aspects of your business model. Let us start up by looking at all cash outflows. It is the expense necessary to maintain and enhance your business.

Can some capital expenditures be deferred to some future date without sacrificing the busi-
ness?

Does your business have on-line presence? Online buying; online banking? Inventory levels are they inline with the peaks and valleys of your business? Are you availing
yourself to the discounts without compromising cash flow?

Is your floor space too big or too small? If you have a website is it working for you and are you soliciting reviews from your customers or clients. Are you active on social media?

Get professional help if needed. Evaluate on your business on an ongoing basis.

Now let me focus on the various programs that are offered by the various levels of government to help during this epidemic.

To avail these programs one needs to have online account with Canada Revenue Agency.

The Canada Emergency Rent Subsidy or CER, is retroactive from September 27 and available until December.

Depending on the revenue decline, the subsidy ranges from 20% to 65% covering commercial rent, commercial property taxes, property insurance and commercial mortgage interest.

The CRA website has a worksheet with all the details. This replaces the expired CECRA, whose net cost to the business was 25%.

The Canada Emergency Wage Subsidy, or CEWS, is effective from March 15 to December 19, with a deadline of application on January 31, 2021. This program provides employers with 75% of the employees’ renumeration and requires a 15% to 30% year-over-year revenue reduc-
tion.

Under Canada Emergency Business Account, or CEBA, businesses can apply for a loan for $40,000 and an additional $20,000 through your bank. If the $40,000 is paid by De-
cember 31, the remaining $20,000 is forgiven

In addition there is the Ontario Government/ Municipality which announced a Property Tax and Energy Cost Rebate Grants in the 2020 Budget along with a PPE grant up to $1,000 with certain businesses with 2 to nine employees. Details are
available on the Government of
Ontario web page.

The City of Toronto has a Digital Transformation Grant of $2,500 available through Digital Main Street to establish or enhance your company’s online presence.

Rattan Gandhi is owner of Quick Refund Tax, 133 Sixth St. His opinions stem from 15 years of experience in helping clients in the tax area. If you have ques-
tions, he can be reached at 905- 616-5253 or rattangandhi@gmail.com.