The CEBA enquiries line is experiencing significant demand. In order to provider a quicker response time and improve the overall customer experience, callers will be asked to leave a call back number. An agent will return the call between Monday and Friday from 10:00 am to 9:00 pm EST.
A return call may take more than 7 business days.
On September 1, 2020 the government updated the CEBA FAQ page to provide guidance on what would be considered invalid support for the non-deferrable expense stream. The following were listed:
Financial statements (i.e. income statement, profit and loss statements)
Invoices due prior to January 1, 2020
Invoices for independent contractors dated after March 1, 2020
Handwritten documents (e.g. handwritten invoices, rent receipts)
Cheque images
Bank transactions or account statements
Quotations or proposals
Credit card statements or receipts
T4 summary from years prior to 2019
T5018 summary document
CRA payment notices
GST/HST payment notices
https://ceba-cuec.ca/faq/
The CEBA website was updated to include additional FAQs discussing:
how to apply if a businesses primary financial institution is changed
the definition of arm’s length for CEBA
depreciation of capital equipment is not an Eligible Non-Deferrable Expense
The specific new questions are:
Yes, the business may still apply for a CEBA loan, although the business must discuss this situation directly with its current primary financial institution.
For the purposes of CEBA, relationships are considered not at arm’s length if the parties are “related persons”, as defined in subsection 251(2) of the Income Tax Act. Unrelated persons are considered to deal at arm’s length for the purposes of CEBA. Individuals connected by a blood relationship, marriage, common-law partnership or adoption are related persons. A blood relationship refers to that of a parent or child (or other descendant, such as a grandchild or a great-grandchild), or a brother and a sister.
Corporations may also be persons related to the relevant employee for the purposes of CEBA, including through a relationship to another corporation or individual. Generally, a corporation is related to another person (including another corporation) where that person controls the corporation, that person is a member of a related group that controls the corporation, that person is a related person of a person who controls the corporation, or that person is a corporation controlled by the same person or group of persons.
Please review the Income Tax Folio for further clarification on what is defined as a related person for the purposes of CEBA.
Depreciation of capital equipment used for business purposes is not an Eligible Non-Deferrable Expense as it is not an expense pursuant to a legal or contractual obligation on March 1, 2020.