You are using an outdated browser.

This website is not compatible with your web browser.

Please upgrade your browser or activate Google Chrome Frame to improve your experience.

CEBA Loan Forgiveness Repayment Deadline Extended

On January 12, 2022, the government of Canada announced that the repayment deadline for the Canada Emergency Business Account (CEBA) loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing.

Repayment on or before the new deadline of December 31, 2023, will result in loan forgiveness of up to a third of the value of the loans (meaning up to $20,000).

The repayment deadline to qualify for partial forgiveness for CEBA-equivalent lending through the Regional Relief and Recovery Fund is also extended to December 31, 2023.

To read the full news release please click here.


If you would like more information on this topic, please contact a member of the EPR tax team by completing the contact form below. Our tax experts can advise on the best structure to reduce or minimize the impact of the taxes.

Canadian and foreign tax laws are complex and have a tendency to change on a frequent basis. As such, the content published above is believed to be accurate as of the date of this post. Before implementing any tax planning, please seek professional advice from a qualified tax professional. EPR Maple Ridge Langley, Chartered Professional Accountants will not accept any liability for any tax ramifications that may result from acting based on the information contained above.


Contact Us

  • This field is for validation purposes and should be left unchanged.

SHARE THIS:

ArchivesArchivées

Proud member of: