Prime Minister Justin Trudeau introduced on Wednesday that the Canada Emergency Enterprise Account (CEBA) program will likely be prolonged till the tip of 2023.
This system affords interest-free loans of as much as $60,000 to small companies and not-for-profits throughout the COVID-19 pandemic.
Going ahead, the federal government stated repaying the steadiness of the mortgage on or earlier than Dec. 31, 2023 would lead to mortgage forgiveness of 33 per cent, or as much as $20,000.
Excellent loans would then convert to two-year time period loans with curiosity of 5 per cent per yr beginning on Jan. 1, 2024, with loans absolutely due by Dec. 31, 2025.
Trudeau additionally stated he acquired Quebec’s proposal to tax unvaccinated residents who don’t have a sound medical exemption and continues to be wanting on the particulars earlier than commenting additional.
He added that his authorities was assured by the Quebec authorities they are going to stand by the ideas of the Canada Well being Act.
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