TaxCycle | Products | Pricing | Training | Documentation | Support | News

CEBA loan Question

Hi everyone,

I have a question regarding CEBA loan. I called CRA’s CEBA loan call centre. Waiting time is long, and I am told that I will get call back within the next 7 days.
My client pays salary to wife who is actively involved in the business. My question is if the salary payments can be included in the eligible expenses. Without salary, he does not qualify for this loan.
Thank u for your advice.

Hello Owais,

I believe her salary is not elegible as per following condition of CEBA:

  • Wages and other employment expenses to independent (arm’s length) third parties;

Regards

Akhlaq Khokhar, CPA, CGA