Entrepreneurship & Small Business

Taking advantage of low interest rates and wage subsidy

  • Last Updated:
  • Apr 11th, 2020 11:46 am
[OP]
Newbie
Apr 9, 2020
1 posts

Taking advantage of low interest rates and wage subsidy

I've been wanting to get some custom website work done but didn't have the cash and it seemed risky. Is this the time to hire someone to do it?
I don't know if I could get a bank to give me a loan for it, but at least I could use the wage subsidy to cover some of the costs.
The only concern with the wage subsidy is that it seems to be through the reduction of the CRA remittances. So if I pay someone $4k in one month, and the remittance is $1k, then I am not getting the full benefit of the subsidy. Is that about right?
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