Abuse of the Canada Emergency Wage Subsidy (CEWS).

[Deer Hunter]

The companies that are abusing CEWS? All kinds.
What about the loans? How many have borrowed $40,000, put $30,000 under a mattress for the free $10,000
We've discussed people abusing CERB.

I know a bunch of truckers around here that have done that. They are essential worker’s and haven’t lost a days work because of Covid. ????????? What a joke!

[Badenoch]

How many have borrowed $40,000, put $30,000 under a mattress for the free $10,000

Only a fool would put the money "under a mattress." The smart move is take the $30,000 put it into the market. You've got two years to pay it back. Free $10,000 plus what you make on the investment.

[JBen]

Only a fool would put the money "under a mattress." The smart move is take the $30,000 put it into the market. You've got two years to pay it back. Free $10,000 plus what you make on the investment.

Every bodies situation is different. As is their risk tolerance. Just as two people with near identical credit resumes and incomes. One might get denied, one approved.

$40,000k.
Drop it in a TFSA, invest in one of those banks. Collect Dividends with a yield of about 4% everyone is complaining about. In 2.years your up $14k plus any appreciation.

Drop it in an RSP. Get a tax refund of 30% and a dividend yield of 5%. In two years, use a credit line to pay back 30k....

Thanks for the $29,000 suckers.

If your appetite for risk is greater rather than stable banks, you can use leverage to greatly enhance returns.

Invest in ABCP. Back in the day the yield on those was quite high.

Or maybe. You just drop 10k into two TFSAs. Tax free growth for life.

10k in RESPs and get another $1,500 back from each. There’s a college fund for your fortunate children...

20k into an RSP. Get a refund of about $8,000 ( which can be dropped in a TFSA to pay off the loan) and dividend yield of about $1,000 per year. Plus any capital appreciation

Meanwhile, people that struggle...... Thanks for playing suckers.

fear and greed

[Jakezilla]

I know a few small business owners and the way it was explained to them by their accountants was that it isn't just free money. The money has to be spent on certain things related to the business, you can't just stick 40k in the bank or invest it in the market. It's also my understanding that by accepting the money you also agree to being audited.

Now they don't have the man power to audit everyone so you can basically do whatever you want with the money and take a chance, but I don't think it's free money with no strings attached. It could also end up like CERB and they won't go after any abusers.

[JBen]

Everyone’s situation is different. Everyone is unique unto themselves.

Just as a big company can get CEWs, use the $ to pay employees, rather than revenue from “sales”. Pay dividends or buy back shares........

how many will get audited?

/edit
should have added because your right. But at the very least, $30k “under a mattress”. Free $10k

[Jakezilla]

I think the CEWS is separate program from the 40k for small business program.

Any "free" money from the government should be seen as a trap, unless you are a big time political donor.