CEBA

[GOODRUM]

Are the cheque’s rolling in?

[AlbertaFarmer5]

Has anyone tried to apply for this as a farmer?

[WiltonRanch]

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.

[AlbertaFarmer5]

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?

[bucket]

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.

[Richard5]

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!

[Dr Tone]

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.

[furrowtickler]

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 .

[farmaholic]

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....

[macdon02]

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

[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.