• Last Updated:
  • Aug 7th, 2020 2:05 pm
[OP]
Jr. Member
Dec 14, 2015
171 posts
66 upvotes
Toronto, ON

TD CEBA application declined?

My TD CRBA application just got declined with no specific reasons even though I think my business is eligible under the new requirements.

I don’t mind re-applying but would like to know what’s wrong with my original application, what should I do? Thanks!
14 replies
Newbie
Oct 1, 2019
76 posts
22 upvotes
call up your bank but one tip I was told to try clearing your cache in your browser.
Sr. Member
User avatar
Nov 23, 2014
537 posts
471 upvotes
Toronto, ON
SojuSoldier89 wrote: My TD CRBA application just got declined with no specific reasons even though I think my business is eligible under the new requirements.

I don’t mind re-applying but would like to know what’s wrong with my original application, what should I do? Thanks!
Under the new extended eligibility ,the CEBA application is two step process
First step is applying at your bank and second step is uploading docs on on CEBA Site

Have you uploaded the docs on the site ?
[OP]
Jr. Member
Dec 14, 2015
171 posts
66 upvotes
Toronto, ON
unodos wrote: Under the new extended eligibility ,the CEBA application is two step process
First step is applying at your bank and second step is uploading docs on on CEBA Site

Have you uploaded the docs on the site ?
Yes I did right after I submitted the TD application. I uploaded all the relevant receipts to prove the 40k non-deferrable expenses.
TD just sent a generic decline email a few days after saying it could be due to a number of reasons but didnt specify which one....

I wish there's somewhere I can see the rejection reason, but now I am not even sure which part went wrong specifically.
Deal Fanatic
Jul 26, 2007
6546 posts
4078 upvotes
Toronto
At the start of CEBA application with TD, lot of em were declined with general message but after resubmitting, some got approved.

They may have fixed this and yours may missing something, but doesn't hurt to retry few times.
Deal Addict
Nov 13, 2006
1300 posts
1036 upvotes
I applied on the first day and still haven't received an approved or declined email. Where can I find out the status?
[OP]
Jr. Member
Dec 14, 2015
171 posts
66 upvotes
Toronto, ON
they will send you a generic email if declined.

Also, does anyone know if the wages/salaries paid to the business owner considered to be part of the 40k minimum non-deferrable expenses?
thanks!
Sr. Member
Aug 8, 2005
655 posts
297 upvotes
Toronto
SojuSoldier89 wrote: they will send you a generic email if declined.

Also, does anyone know if the wages/salaries paid to the business owner considered to be part of the 40k minimum non-deferrable expenses?
thanks!
And a related question.. are dividends paid to the owner considered part of non-deferrable expenses? (since this route was chosen vs. salary) I also have dividends declared from last year that have not been paid yet since there is no $$ available to do so. Can I use the T5 (dividend declared) as proof that I need to pay this expense???
Sr. Member
Feb 23, 2005
944 posts
64 upvotes
SojuSoldier89 wrote: they will send you a generic email if declined.

Also, does anyone know if the wages/salaries paid to the business owner considered to be part of the 40k minimum non-deferrable expenses?
thanks!
Read the definition here: https://ceba-cuec.ca/

What are the Eligible Non-Deferrable expense categories?
The Eligible Non-Deferrable Expense categories are the following:

Wages and other employment expenses to independent (arm’s length) third parties - that means salaries to business owners do not count

Joseph Kwan, CPA, CA, CPA (Illinois)
Last edited by jkwan18 on Jul 8th, 2020 9:51 am, edited 1 time in total.
Sr. Member
Feb 23, 2005
944 posts
64 upvotes
BHA1 wrote: And a related question.. are dividends paid to the owner considered part of non-deferrable expenses? (since this route was chosen vs. salary) I also have dividends declared from last year that have not been paid yet since there is no $$ available to do so. Can I use the T5 (dividend declared) as proof that I need to pay this expense???
Read the definition here: https://ceba-cuec.ca/

Dividends do not count.

Joseph Kwan, CPA, CA, CPA (Illinois)
[OP]
Jr. Member
Dec 14, 2015
171 posts
66 upvotes
Toronto, ON
jkwan18 wrote: Read the definition here: https://ceba-cuec.ca/

What are the Eligible Non-Deferrable expense categories?
The Eligible Non-Deferrable Expense categories are the following:

Wages and other employment expenses to independent (arm’s length) third parties - that means salaries to business owners do not count

Joseph Kwan, CPA, CA, CPA (Illinois)
thanks a lot!
Jr. Member
Mar 1, 2018
185 posts
79 upvotes
The new eligibility makes it very difficult for small businesses that pay only through dividends. What about filing t4 summary for 2019 late and amending personal tax return to declare this income? Anyone know what the penalties and interest would be for late t4 submission and late reporting of income? If we all knew how much easier the CEBA gets approved with minimum 20k in wages we could have planned properly. Seems small corporations paying their shareholder through dividends are not being treated fairly.
Deal Addict
May 16, 2006
4208 posts
511 upvotes
rustyone wrote: The new eligibility makes it very difficult for small businesses that pay only through dividends. What about filing t4 summary for 2019 late and amending personal tax return to declare this income? Anyone know what the penalties and interest would be for late t4 submission and late reporting of income? If we all knew how much easier the CEBA gets approved with minimum 20k in wages we could have planned properly. Seems small corporations paying their shareholder through dividends are not being treated fairly.
Should tax avoidance schemes really be considered not treated fairly? Come on

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