Canadian Emergency Business Account

[Stompin Tom]

So let me get this right!
You do everything to avoid paying taxes?
Now you are trying everthing to get a handout....

Well sir, be honest from the start and you would not be in this boat.

I thought this was to help people in dire sraits?

I see some honest people getting and keeping their employees and the then I see posts of how people want to try to use it to make more money useing it as a tax free loan and and free $10,000 at the end.

I am not sure if some of you folks are just trying to be funny or serious......

There is people out in our country that really have nothing that worked for minimum wage, have children and lost there jobs...

I for one have not and will not be using any of the government funding due to my ethics that I was taught and lived by.

Slam me all you want. I can wake up every day and be proud of myself and not ever have to look over my shoulder to be concerned if I did something wrong to some one or my country......

Yes, I am retired military and proud of it.

Stay strong everyone... We unite together and will always be a Canadian team///////

Gods speed and all stay safe.

This program is the Canadian Emergency BUSINESS Account. Its not designed to feed starving children or put roofs over the heads of the homeless. Its purpose it to help stabilize the economy and try to have a stable footing for small business as we work our way out of this chrisis.

The Canadian Emergency Response Benefit is in place to help feed the starving children, the Temporary Rental Supplement is in place to help keep a roof over the heads of those in need.

I feel very comfortable applying for the CEBA based on the 2 factors, my business qualifies for the supplement and I most certainly know when we come out of this my business will be taxed way beyond what any wage earning individual will be. I will be paying this back many times over for certain. Those who do no apply who qualify will also bare this burden, and they will regret not taking it when it was offered.

You say you are retired military, I thank you for your services. But with that you are retired and pensioned. I am not and my small business supports 4 families. If I dont do my best to keep my business afloat, I am not only doing a disservice to myself, but to those families who rely up my business.

 

[Cyle]

This program is the Canadian Emergency BUSINESS Account. Its not designed to feed starving children or put roofs over the heads of the homeless. Its purpose it to help stabilize the economy and try to have a stable footing for small business as we work our way out of this chrisis.

The Canadian Emergency Response Benefit is in place to help feed the starving children, the Temporary Rental Supplement is in place to help keep a roof over the heads of those in need.

I feel very comfortable applying for the CEBA based on the 2 factors, my business qualifies for the supplement and I most certainly know when we come out of this my business will be taxed way beyond what any wage earning individual will be. I will be paying this back many times over for certain. Those who do no apply who qualify will also bare this burden, and they will regret not taking it when it was offered.

You say you are retired military, so I thank you for your services. But with that you are retired and pensioned. I am not and my small business supports 4 families. If I dont do my best to keep my business afloat, I am not only doing a disservice to myself, but to those families who rely up my business.

WTF there is a rent subsidy now? Did the government find a bunch of money they aren't telling everyone about to pay for all this chit?

 

[Dawizman]

WTF there is a rent subsidy now? Did the government find a bunch of money they aren't telling everyone about to pay for all this chit?

Printing it as we speak. Just like the rest of the world.

 

[Stompin Tom]

WTF there is a rent subsidy now? Did the government find a bunch of money they aren't telling everyone about to pay for all this chit?

nope, just going to tax the living hell out of us when this is done.

 

[kimrick]

This program is the Canadian Emergency BUSINESS Account. Its not designed to feed starving children or put roofs over the heads of the homeless. Its purpose it to help stabilize the economy and try to have a stable footing for small business as we work our way out of this chrisis.

The Canadian Emergency Response Benefit is in place to help feed the starving children, the Temporary Rental Supplement is in place to help keep a roof over the heads of those in need.

I feel very comfortable applying for the CEBA based on the 2 factors, my business qualifies for the supplement and I most certainly know when we come out of this my business will be taxed way beyond what any wage earning individual will be. I will be paying this back many times over for certain. Those who do no apply who qualify will also bare this burden, and they will regret not taking it when it was offered.

You say you are retired military, so I thank you for your services. But with that you are retired and pensioned. I am not and my small business supports 4 families. If I dont do my best to keep my business afloat, I am not only doing a disservice to myself, but to those families who rely up my business.

I thank you for you reply.
I payed for my pension on every pay check...... You also, as a business owner have that option to do the same.
Have an RRSP, company based pension plan.

If some ones company will fall apart in 4 weeks, then they were were domed to start with.....

Sell the Escalade. stop sledding. no more vegas, no more mexico.........Noy saying this is you personally.

Dont snow check a sled......

Live with old equipment and service and run it right?

Thanks but.........................

Everyone makes their bed.....Lay in it......

I had no problem living on a very small paycheck for over 20 years. Very happy life and fami;y.... We as a family watched people with there big boats at the beach. We just had a picnic basket abd sand pails.
I tell you, we were a loving and very happy family that could not live out of our means.

It seems the entitlement has gone past me and I guess I dont understand...

More to life than money....

Good lucj for all you folks......Remember.......love your family.

Had to edit. Thanks for pointing out it is an emergency BUSINESS account.
As a business person?, Do you not think it is a stimulus to the the economy? If not, you are living in a dream world...........
You my friend, ensuring that your employees and families ar looked after have a very high quality in my books.
It is the other folks using it for other means is what bothers me.....

Thank you for looking after families.....

 

[S.W.A.T.]

I thank you for you reply.
I payed for my pension on every pay check...... You also, as a business owner have that option to do the same.
Have an RRSP, company based pension plan.

If some ones company will fall apart in 4 weeks, then they were were domed to start with.....

Sell the Escalade. stop sledding. no more vegas, no more mexico.........Noy saying this is you personally.

Dont snow check a sled......

Live with old equipment and service and run it right?

Thanks but.........................

Everyone makes their bed.....Lay in it......

I had no problem living on a very small paycheck for over 20 years. Very happy life and fami;y.... We as a family watched people with there big boats at the beach. We just had a picnic basket abd sand pails.
I tell you, we were a loving and very happy family that could not live out of our means.

It seems the entitlement has gone past me and I guess I dont understand...

More to life than money....

Good lucj for all you folks......Remember.......love your family.

Had to edit. Thanks for pointing out it is an emergency BUSINESS account.
As a business person?, Do you not think it is a stimulus to the the economy? If not, you are living in a dream world...........
You my friend, ensuring that your employees and families ar looked after have a very high quality in my books.
It is the other folks using it for other means is what bothers me.....

Thank you for looking after families.....

Your statement makes a lot of sense but to gain more perspective go buy some equipment or a truck or two and see what kind sent 4 week, heck 3 to 4 months of no income means. Then operate for a month once things fire up before cheques start coming in. Fuel bills, wages, tires, hoses, this goes on. Yes when the sun and star and moon all align things can be very good, couple slips, injectors, pumps or engine and things get upside down very quickly and it can be a long recovery period.

 

[Cyle]

Your statement makes a lot of sense but to gain more perspective go buy some equipment or a truck or two and see what kind sent 4 week, heck 3 to 4 months of no income means. Then operate for a month once things fire up before cheques start coming in. Fuel bills, wages, tires, hoses, this goes on. Yes when the sun and star and moon all align things can be very good, couple slips, injectors, pumps or engine and things get upside down very quickly and it can be a long recovery period.

Agreed 100%. 30 days for payment? That sounds like a dream! I'm still waiting on checks from last year that are sitting at about 130 days. The only upside is even when shut down money is still coming in from all the late payers.

The other problem is not knowing when work will start back up. At least a store or restaurant knows when it opens you'll have customers coming in and instant payment. I have no idea when that'll be. Then add in this shut down is happening right as construction should be ramping up for the summer, if it kills the whole summer it will be a very bad winter for anyone in construction.

 

[kanedog]

Agreed 100%. 30 days for payment? That sounds like a dream! I'm still waiting on checks from last year that are sitting at about 130 days. The only upside is even when shut down money is still coming in from all the late payers.

The other problem is not knowing when work will start back up. At least a store or restaurant knows when it opens you'll have customers coming in and instant payment. I have no idea when that'll be. Then add in this shut down is happening right as construction should be ramping up for the summer, if it kills the whole summer it will be a very bad winter for anyone in construction.

Can I collect your receivables for you? I can do a 50/50 deal for you.

 

[MarkCos]

 

[Stompin Tom]

Agreed 100%. 30 days for payment? That sounds like a dream! I'm still waiting on checks from last year that are sitting at about 130 days. The only upside is even when shut down money is still coming in from all the late payers.

The other problem is not knowing when work will start back up. At least a store or restaurant knows when it opens you'll have customers coming in and instant payment. I have no idea when that'll be. Then add in this shut down is happening right as construction should be ramping up for the summer, if it kills the whole summer it will be a very bad winter for anyone in construction.

That is one big advantage forestry has over oil and gas, receivable. The mill I work for is great. You work 2 weeks, cutoff on every 2nd Saturday, then you are paid the following Friday. 6 days from cut off to pay day. Canfor is not quite as good, but still one of the best in the resource industry, 2 cut offs a month, 2 paydays a month. not quite a 15 and 31 thing, but close. They stager a bit bit.

Now onto the big business concern about this crisis. We dont know what we will have for an industry once the dust settles. With all the self quarantine and social distancing comes a shut down in construction. The time of the year this hits means most mills have yards full of logs and a big inventory of cut wood. If that wood doesnt sell they dont need the logs and we dont go back to work. SO when can a guy expect to be back working? Traditionally we go back full time mid june. This year aug, sept, december? Who knows? It depends on market conditions. If the finished product doenst move, we dont move. This is an especially unusual year for us as mills had made the decision to supply dump yards during the winter with the plan to forward the wood all spring. This lasted 1 week then we were shut down due to "high probability of virus spread because of outside contact". The reality is the mills dont have to pay stumpage for the wood in the dump yards, they only pay stumpage once the wood passes through the scale house. Smart business on their part, but hard on us.

So now as a businessman I have gone from "were not shutting down, hauling all spring" to 3 weeks later "high probability of virus spread because of outside contact". How do you defend yourself from that? This thing came on fast. The NHL played games on Wednesday March 11, then announced a "pause" the next day with no warning. That is fast. For us we were told on March 1 we were working all spring, then on March 27 told to close up shop.

 

[Stompin Tom]

If some ones company will fall apart in 4 weeks, then they were were domed to start with.....

That is the thing right there, Can you guarantee me that this is a 4 week thing? 8 weeks? 3 months? Nobody really knows how long this is going to affect us, nor do we know how each of our business models will look after this is over.

What you have said there is a very naive statement. I cant live day to day, week to week, I must always be looking 1, 2, 3 years into the future. Right now we have no idea what that future looks like. For the first time in my life I have been hit with a scenario that I can not make a viable plan for because non of us really know what is going to happen.

You say sell the Escalade, dont go to Vegas, dont go to Mexico, dont snow check a sled. That sounds more like you have a negative attitude towards the young guys in the patch who got a few good paychecks and spent it all on toys and are now suffering. If you look around you will find most small businessmen are much different, they are in it for the long term, if they have been around for a few years they quickly learn how to level the peaks and valleys. This isnt a peak or a valley, its a bucket of cold water directly in our face, the edge of a flat earth with no site of the bottom.

 

[freeflorider]

Your statement makes a lot of sense but to gain more perspective go buy some equipment or a truck or two and see what kind sent 4 week, heck 3 to 4 months of no income means. Then operate for a month once things fire up before cheques start coming in. Fuel bills, wages, tires, hoses, this goes on. Yes when the sun and star and moon all align things can be very good, couple slips, injectors, pumps or engine and things get upside down very quickly and it can be a long recovery period.

Personally this is all to real. I feel this is because there is not enough money in the business for proper sustainability. We are all running on a shoestring taking huge risks and rolling dice everyday guessing what’s next.
governments is always digging into industries pockets looking for more money to cover there screw ups, our kootenay lake office used to run on 5 bcts staff and 20 logging companies. Now there is 5. Companies and 20 staff (for simple math).
here lies the problem, to many government positions sucking on industry tit.
so when government offers us a bone be sure we going to take it.

 

[lilduke]

wall street is getting trillion's of dollars a week, but heres 10g you scum bags. that ot to pay 1 of your guys for a month
or 2.

 

[Merc63]

Could I buy equipment with this loan?

 

[Cyle]

Could I buy equipment with this loan?

No only hookers and blow.

 

[Stompin Tom]

Could I buy equipment with this loan?

you cant buy equipment with this loan, but you can finance equipment and make the payments with the loan proceeds.

typical of a short term, poorly thought out government plan.

 

[freeflorider]

No only hookers and blow.

Oh I’m not sure if you can. But if you still own for them for back purchases then it’s an expense that covering debt so it’s all good.

 

[S.W.A.T.]

you cant buy equipment with this loan, but you can finance equipment and make the payments with the loan proceeds.

typical of a short term, poorly thought out government plan.

I think you can, also can be used for training purposes. My understanding as long as its isn't used for personal or used to payout exiting loans but can be used to make existing loan payments.

 

[catalac]

So let me get this right!
You do everything to avoid paying taxes?
Now you are trying everthing to get a handout....

Well sir, be honest from the start and you would not be in this boat.

I thought this was to help people in dire sraits?

I see some honest people getting and keeping their employees and the then I see posts of how people want to try to use it to make more money useing it as a tax free loan and and free $10,000 at the end.

I am not sure if some of you folks are just trying to be funny or serious......

There is people out in our country that really have nothing that worked for minimum wage, have children and lost there jobs...

I for one have not and will not be using any of the government funding due to my ethics that I was taught and lived by.

Slam me all you want. I can wake up every day and be proud of myself and not ever have to look over my shoulder to be concerned if I did something wrong to some one or my country......

Yes, I am retired military and proud of it.

Stay strong everyone... We unite together and will always be a Canadian team///////

Gods speed and all stay safe.

Ya you pretty much nailed it, damn rights I’ll take any legal program that’s a benefit to me and use it, if there’s 10k from the government I’ll take it.

 

[catalac]

If Trudeau had a single brain cell he’d end the billions in foreign aid and roll that into programs like this for Canadians. That is the trump difference, USA first, in Canada not so much.