This document is the first attempt to provide the current status of all federal programs of support for the economy and businesses in Canada in one place for members. It has evolved significantly over the past two weeks and is likely to continue to evolve and be updated by governments. As such please be sure to click the links provided to all governments for the most updated and available support for your business and ensure you take full advantage of the substantial support available via your respective levels of government. CPCA will assist where it can in exceptional cases related to access to funding, but we have limited resources to take on individual accounts for specific funding support as there will be challenges in accessing certain support in a timely manner. In some cases, various support initiatives already announced are still being defined in terms of benefit and who it applies to in some cases. Further information will be provided via the links provided below. CPCA will also monitor more specific actions taken, new announcements and report on them when they become available.
This resource will be provided on the website and updated as required and members will be altered when updates are made.
We hope the information provided below will assist members in developing a checklist of those support programs that are relevant for your company to access in the coming days.
Please note the resources at the end of this Bulletin that will help companies deal with business disruption, provided by Raymond Chabot Grant Thornton and Deloitte.
NOTE: Please consult the links for ongoing federal government announcements which occur regularly and which may be of benefit to member companies.
The federal government has announced the following economic relief measures. For more information on Canada’s COVID-19 Economic Response Plan, announced on March 18, 2020, please visit the Department of Finance Canada’s website, here.
Small and medium-sized businesses are the backbone of the Canadian economy. During this extraordinary time, the Government of Canada is taking strong action to help Canadian businesses as COVID-19 is affecting them, their employees and their families. View all resources here.
Canada’s Regional Development Agencies (RDAs) are one of the key platforms for economic development in Canada and help to address key economic challenges by providing regionally tailored programs, services, knowledge and expertise.
FedDev Ontario is closely monitoring the COVID-19 global challenge and the potential impact it could have on business and workers, as well as the broader economy.
The Government of Canada has announced a number of measures to help stabilize the economy. These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses. Support includes:
NOTE: This is separate from the eligibility all workers currently have to access Employment Insurance programs when temporarily laid off and can access up to 55% of their salary. The announcement below allows access to 75% of current earnings up to a maximum of approximately $58,000.
While the announcement below is for small business it may apply to ALL businesses in Canada that qualify. Current details note that businesses can qualify if experiencing a 30 percent reduction in current business. It applies as noted below.
Announcement of a 75 per cent wage subsidy for qualifying businesses, for up to 3 months, retroactive to March 15, 2020. This will help businesses to keep and return workers to the payroll. More details on eligibility criteria will start with the impact of COVID-19 on sales, and will be shared before the end of the month.
These new investments will help Canada’s financial institutions provide the credit and liquidity options that a range of Canadian businesses need immediately.
The Government of Canada understands that some sectors have been disproportionally impacted by the COVID-19 pandemic. We will continue to carefully monitor all developments, and take further action in the near term. We’re all in this together, and the Government of Canada will continue to work around the clock to ensure all Canadians and small businesses get the support they need to weather this crisis.
The Tax Court of Canada has cancelled all sittings and conference calls scheduled between March 16, 2020, and May 1, 2020, inclusively. The Court will reassess on April 14, 2020. The Registry will contact affected parties directly. The Registry offices of the Tax Court of Canada are closed for all other business until further notice.
The Government of Canada and the Government of Quebec have yet to announce relief measures from a sales tax perspective for GST/HST/QST for registrants who are directly impacted by the COVID-19 pandemic. This means that every person who is registered for GST/HST/QST purposes must act with diligence in filing their sales tax returns, and meet any applicable deadlines despite the hardship caused by the COVID-19 pandemic.
Each of British Columbia, Manitoba, and Saskatchewan have announced certain relief measures with respect to PST in the respective provinces. Please see the detailed discussion below for additional information on specific PST measures.
As a result, this notice is likely to have limited impact for non-government entities, including most private importers, unless they have registered to import goods required for an emergency on behalf of federal, provincial, or municipal entities (such as masks, personal protective equipment, ventilators, hand-sanitizing gel, etc.) To apply for relief of duty and taxes, the importer must fill out a Form B3-3 and enter special authorization code “73-2529” in field 26 and “9993” in field 28. No security deposit will be collected.