Has anyone been disappointed with CEBA (Canada Emergency Business Account) online application for the non-deferrable expense stream for the $40K interest free loan?
- You must apply by Aug 31/20 and upload docs by Sep 3/20. If you’re declined on Sep 6, then who knows>
- The website: https://ceba-cuec.ca/ has no link to the CBA FAQ. Go to https://ceba-cuec.ca/faq/ for the FAQ. Also you can check Videotaxnews.com.
- The bank will advise you to scan documents before going to the application. Don’t overdo it and scan all 6 or 7 months. You usually need to scan only one invoice in each category for Jan or Feb/20.
- For annual expenses, like property tax or insurance, you upload the property tax bill or the (complete) insurance policy.
- You’ll need to have separate scans for each category, but max no. of uploads is 20.
- CRA doesn’t tell you the specific categories until you are in the midst of the application. For example, Telephone, Gas, Oil (Heating oil), Electricity, Water and Internet are each a separate category.
- USUALLY, you can submit an agreement/contract or an invoice.
Here is a quick list for some categories:
DETAILS OF DOCUMENTS REQUIRED FOR CEBA UPLOAD --.pdf (328.1 KB)
8. There are thousands of guys in Alberta that have a truck and a small service business.
9. Is there any guidance on whether CRA will accept office in home expenses, prorated as on tax return? If one spouse has a business, and the utility bills are in the name of the other spouse, will CRA accept them?
10. If you’re just under $40K in non-deferrable expenses, don’t expect to get help from “Materials” purchases, unless you are producing a product and have a contract for purchase of inputs dated before Mar 1/20. Supplies for a service business (i.e. painting & restoration) are not allowed according to the details.
11. The messages CRA send when you are denied, such as “Sum of Expenses Not Within Eligible Range” and “Document Not Valid” are not that helpful, as it doesn’t reference a specific document.
12. Most references are out of date, or not comprehensive, including the CRA website.
13. This post is also out of date, and not comprehensive. And it ends on number 13.