Government of Canada Resources:
- Support For Your Business
- COVID-19 Support to Businesses
- Canada Emergency Wage Subsidy (75% Subsidy)
- Temporary Wage Subsidy for Employers: FAQ (10% Subsidy)
- Canada Emergency Business Account
- Canada Emergency Response Benefit
- Resources for Canadian Businesses: COVID-19
- Export Development Canada
- Business Development Bank of Canada: Support for Entrepreneurs
- Work-Sharing Program: Temporary Measures
- Do you produce goods that can help Canada combat COVID-19?
- Mass Gatherings Risk Assessment
- Destination Canada: COVID-19 Updates
- Wellness Together Canada: Mental Health and Substance Use Support
Today, the Canadian Chamber of Commerce, in partnership with the Government of Canada, launched the Canadian Business Resilience Network (CBRN). The CBRN is a coordinated, business-led, inclusive campaign that will focus on providing businesses the tools they need to mitigate the impact of the pandemic on them, our economy and communities across the country. Its goal is also to help businesses emerge from this crisis and drive Canada’s economic recovery.
The CBRN will:
- Give tools and supports to businesses in their continuity efforts – from development to implementation.
- Provide a consistent and reliable flow of accurate and up-to-date information.
- Work closely with federal government and within the business community to ensure the right supports are in place, and to be a conduit for information from the government to the private sector (and vice versa).
- Aim to instill confidence in Canadian business and the economy.
The campaign will feature:
- A standalone website (www.cbrn.ca) that serves as a central hub for credible information, the latest news and insights, tools and resources and as a platform for engaging businesses.
- Information sharing and awareness building initiatives, including newsletters and webinars.
- Analysis and reporting on business, industry and economic trends across the country to see what is working and where gaps might exist.
Today, the federal government began accepting applications for the Canada Emergency Response Benefit (CERB), the temporary income support that provides eligible applicants with up to $2000/month for four months. Due to high expected demand, the government will accept applications for the CERB in a staggered framework based on the birth-month of the applicant. See the schedule below. The application process starts here.
Letter From Ministers to Employers – Temporary Foreign Workers – COVID-19. Read the letter here.
April 1, 2020 – Ottawa, Ontario – Department of Finance Canada
To help Canadians and businesses get through these tough economic times, the Prime Minister, Justin Trudeau, announced that the Government is proposing to introduce a wage subsidy of 75 per cent for qualifying businesses, for up to 3 months, retroactive to March 15, 2020.
This measure, which is a part of the Government of Canada’s COVID-19 Economic Response Plan, would support businesses that are hardest hit by the COVID-19 pandemic and would help protect the jobs Canadians depend on during these difficult times.
Finance Minister Bill Morneau, the Minister of Small Business, Export Promotion and International Trade, Mary Ng, and the Minister of Innovation, Science and Industry, Navdeep Bains, announced the details of the proposed Canada Emergency Wage Subsidy:
- The Canada Emergency Wage Subsidy would apply at a rate of 75 per cent of the first $58,700 normally earned by employees – representing a benefit of up to $847 per week. The program would be in place for a 12-week period, from March 15 to June 6, 2020.
- Eligible employers who suffer a drop in gross revenues of at least 30 per cent in March, April or May, when compared to the same month in 2019, would be able to access the subsidy.
- Eligible employers would include employers of all sizes and across all sectors of the economy, with the exception of public sector entities.
- For non-profit organizations and registered charities similarly affected by a loss of revenue, the government will continue to work with the sector to ensure the definition of revenue is appropriate to their circumstances. The government is also considering additional support for non-profits and charities, particularly those involved in the front line response to COVID-19. Further details will be announced in the near term.
- An eligible employer’s entitlement to this wage subsidy will be based entirely on the salary or wages actually paid to employees. All employers would be expected to at least make best efforts to top up salaries to 100% of the maximum wages covered.
The Canada Emergency Wage Subsidy is a key measure to ensure that workers are able to count on a source of income through this difficult time. It will enable employers to re-hire workers previously laid off, and to keep those who are already on payroll, so that Canada’s workforce and supply chains are able to return from this crisis in a strong position.
Eligible employers would be able to access the Canada Emergency Wage Subsidy by applying through a Canada Revenue Agency online portal. More details regarding how to apply for the program will follow. Those organizations that do not qualify for the Canada Emergency Wage Subsidy may continue to qualify for the previously announced wage subsidy of 10 per cent of remuneration paid from March 18 to before June 20, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.
The government will continue to carefully monitor all developments relating to the COVID-19 outbreak and will continue to take further action to protect Canadians and the economy.
This morning, Prime Minister Justin Trudeau announced further details about the federal government’s 75 percent wage subsidy:
- businesses whose revenues have decreased by at least 30 percent because of COVID-19 will be eligible
- number of employees does not factor into eligibility; both big and small companies will be eligible
- non-profits and charities will also be eligible.
- the subsidy will cover the first 75 percent of the first $58,700 of an employee’s paycheck
As of right now, it does not appear there is a subsidy limit per employer. Further details will be shared as they become available.
Earlier this morning, Prime Minister Justin Trudeau announced that the federal government would be expanding the federal wage subsidy to small businesses to 75 percent, up from the previously announced 10 percent. This subsidy will be back-dated to Sunday, March 15. This is a welcomed and much-needed step from the federal government, and will prove critical to the continued health and survival of Canada’s small businesses.
The Prime Minister also announced the creation of the Canada Emergency Business Account, through which Canadian banks will make available government-guaranteed loans of up to $40,000 to small businesses, which will be interest-free for the first year; up to $10,000 of those loans will be forgivable for eligible businesses. The government also committed to providing an additional $12.5 billion through Export Development Canada and the Business Development Bank to help cash flows for small businesses.
The Prime Minister also announced that the government is committed to deferring GST and HST remittances and duties on imports/exports until June 2020.
These programs add up to $65 billion in direct supports and $30 billion in deferred taxes. The Prime Minister indicated that further details on the programs will come no later than Monday, March 30.
Earlier in the day, the Bank of Canada announced that it would be lowering the overnight rate to 0.25 percent. Read more here.
Minister Patty Hajdu announced today that all international travellers – with the exception of “essential workers” – are now mandated to enter a 14-day quarantine when returning to Canada. The measure goes into effect on midnight March 25. Read media coverage here.
This afternoon, Parliament passed a federal COVID-19 aid package worth $107 billion. Key provisions include the Canada Emergency Response Benefit, under which laid off employees could receive up to $2000 per month for four months. More details to follow. Read media coverage here.
This morning, the House of Commons passed Bill C-13, the COVID-19 Emergency Response Act, which provides up to $82 billion in funding to help Canadians during the COVID-19 crisis. The bill will go to the Senate later today for approval. Read media coverage here.
Top 5 Things SME’s Need to Know. Read more here.
The Government of Canada announced significant actions to support businesses through the impact of COVID-19. Read the full Economic Response Plan here.
Actions related to businesses include:
- The Government will provide up to $27 billion in direct support to Canadian workers and businesses, and an addition $55 billion to meet liquidity needs of Canadian businesses and households through tax deferrals
- The 2020 tax deadline has been extended to June 1, 2020. The Canada Revenue Agency will allow all businesses to defer, until August 31, 2020, the payment of any income tax amounts that become owing after March 18 and before September 2020
- The Business Credit Availability Program will allow the BDC and the EDC to provide more than $10 billion of additional support targeted at small- and medium-sized businesses
- The Government is proposing to provide eligible small businesses with a temporary wage subsidy, up to 10 percent of wages, for a period of three months. This subsidy is limited to $1,375 per employee and $25,000 per employer
- On March 16, the Government announced that it was launching an Insured Mortgage Purchase Program, which will allow it to purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation. This policy is aimed at providing long-term stability to banks and mortgage lenders and help facilitate continued lending to Canadian consumers and businesses.
Canada eliminates one-week waiting period for Employment Insurance Benefits for workers quarantined due to COVID-19. Read more.