Entrepreneurship & Small Business

CEBA - can you claim Net Business Income?

  • Last Updated:
  • Oct 17th, 2020 1:33 pm
[OP]
Newbie
Oct 14, 2020
1 posts

CEBA - can you claim Net Business Income?

Hi all,

Question regarding CEBA:
-self-employed and don't have payroll go get my income from business (don't have T4, just keep dividends)
-non-deferrable expenses for 2020 are close to $40,000 but can I claim/add the New Business income (which is in fact my salary) in order to qualify for CEBA?
TIA
4 replies
Member
User avatar
Nov 23, 2014
426 posts
402 upvotes
Toronto, ON
ChrisB93093 wrote: Hi all,

Question regarding CEBA:
-self-employed and don't have payroll go get my income from business (don't have T4, just keep dividends)
-non-deferrable expenses for 2020 are close to $40,000 but can I claim/add the New Business income (which is in fact my salary) in order to qualify for CEBA?
TIA
You should be incorporated and should have a business number
Nothing to do with business income and it does not matter ..either your should have a payroll expenses of $20k or non deferral expenses of more than $40 k per year (expenses will be checked/audited before approval and you have to upload docs)
Payroll expenses as per payroll deduction submitted to CRA through payroll account of the company
Deal Addict
Jan 10, 2007
1428 posts
486 upvotes
Abbotsford
unodos wrote: You should be incorporated and should have a business number
Nothing to do with business income and it does not matter ..either your should have a payroll expenses of $20k or non deferral expenses of more than $40 k per year (expenses will be checked/audited before approval and you have to upload docs)
Payroll expenses as per payroll deduction submitted to CRA through payroll account of the company
This is crazy. No loss of income needed to get 20k free
Member
User avatar
Nov 23, 2014
426 posts
402 upvotes
Toronto, ON
oakjefferson wrote: This is crazy. No loss of income needed to get 20k free
May be ,why not you set up a business ,employ some people,pay them ..wait for the next pandemic ....and get the $20 or even $200k for free
It's easy !!
Deal Addict
Jan 10, 2007
1428 posts
486 upvotes
Abbotsford
unodos wrote: May be ,why not you set up a business ,employ some people,pay them ..wait for the next pandemic ....and get the $20 or even $200k for free
It's easy !!
There are businesses that honestly need it. There are many that don’t. I know a few where I am that are laughing they get free money when business has never been better. Not sure why you’re upset that I would be bothered our tax dollars are being handed out to help people that don’t need it. CERB was qualified for those that need it - this should be the same.

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