Since the start of the pandemic, there have been an increasing number of changes to government relief programs for businesses across Canada. The most recent updates to these programs are outlined below, directly from the Canadian Federation of Independent Business (CFIB).
Updates to federal COVID-19 relief – what do they mean for your business?
The federal government has made changes to its three key COVID-19 support programs – here are the main highlights over the past few weeks:
-
-
- The maximum wage subsidy (CEWS) is increasing to 75% starting December 20 until mid-March.
- The rent subsidy (CERS) will continue at its current level (up to 65%) until mid-March.
- Applications for the $20,000 CEBA loan extension (of which $10,000 is forgivable if paid back by end of 2022) are now open through your bank.
-
The CFIB are still working closely with the CRA in order to figure out finalized logistics with CERS, including eligibility for businesses who rent from a non-arm’s-length landlord (like family, or a holding company owned by the tenant). Keep checking the CFIB website for updates on these programs.
Wage subsidy Rent subsidy CEBA loan
Your EHT payments are coming due!
Grab your calendar and get ready to mark down some important dates. Costs that were deferred during the pandemic are now coming due, and some provincial taxes are changing in the New Year.
See the breakdown of the changes here: Learn more
