Canada Emergency Wage Subsidy (CEWS): As a Canadian employer whose business has been affected by COVID-19 you may be eligible for a subsidy of 75% of employee wages for up to 24 weeks, retroactive from March 15, 2020 to August 29, 2020.
Applications for claim period 5 (July 5 to August 1) will open August 17, 2020.
Canada Emergency Business Account (CEBA): The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.
To support even more small businesses, we are expanding the eligibility requirements of CEBA to allow businesses with between $20,000 and $1.5 million in annual payroll to apply.
Canada Emergency Commercial Rent Assistance (CECRA): The program provides relief for small businesses experiencing financial hardship due to COVID-19.
Over the course of the program, property owners will reduce rent by at least 75% for the months of April, May, June, July and August for their small business tenants. CECRA will cover 50% of the rent, with the tenant paying up to 25% and the property owner forgiving at least 25%.
Regional Relief and Recovery Fund (RRRF): The RRRF will be delivered through our six Regional Development Agencies and is open for applications from businesses and communities, specifically targeted towards businesses that need help but haven’t qualified for existing programs.
National Research Council’s Industrial Research Assistance Program: Starting on April 22nd at 7:00am, small and medium-sized Canadian businesses unable to secure funding under the Canada Emergency Wage Subsidy and the Business Credit Availability Program can apply for financial assistance.
Emergency Community Response Fund: We are setting up a $350 million Emergency Community Support Fund to support charities and nonprofits in their important work and get vulnerable Canadians the resources they need. The money will flow through national organizations like the United Way, Community Foundations Canada, and the Red Cross that can get funds to local organizations and vulnerable people quickly. This is money for things like training volunteers, increasing at-home deliveries for seniors or driving people with disabilities to appointments.
Work Sharing Program: The Work-Sharing program is implementing temporary special measures to support employers and employees affected by the downturn in business caused by COVID-19. The temporary special measures will extend the Work-Sharing agreements by an additional 38 weeks, waive the mandatory waiting period between agreements, and ease the recovery plan requirements.
Canada Account: There will be new measures to provide flexibility on the Canada Account limit, to allow the Government to provide additional support to Canadian businesses, when deemed to be in the national interest, to deal with exceptional circumstances.
Insured Mortgage Purchase Program: We are launching an Insured Mortgage Purchase Program to purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation.
Tax Filing: The CRA will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. They will not contact any small or medium (SME) businesses to initiate any post assessment GST/HST or Income Tax audits for the next four weeks. For the vast majority of businesses, the CRA will temporarily suspend audit interaction with taxpayers and representatives. The Liaison Officer service, traditionally available in-person, will be made available over the phone.
Industry and Innovation: Our government is investing $2 billion to purchase protective personal equipment, including things like more masks and face shields, gowns, ventilators, test kits and swabs, and hand sanitizer. Since the outbreak, many businesses have put their hand up and asked us what they can do to help. We announced a new strategy that will make it easier for companies to help out during this critical time. We launched Canada’s Plan to Mobilize Industry to Fight COVID-19 to ensure that we can quickly produce, here in Canada, the things we need to prevent the spread of the virus.
Provincial Hotline: The Government of Ontario has launched a hotline for businesses regarding emergency measures and the closure of at-risk workplaces: 1-888-444-3659.
Canadian Federation of Independent Businesses: CFIB has set up a website that answers some commonly-asked questions regarding COVID-19 relief measures for small businesses.
Ontario Nonprofit Network: ON has set up a website that answers some commonly-asked questions regarding COVID-19 relief measures for the not-for-profit sector.