This links to the federal government’s economic response plan for Canadians and businesses. The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.
Regional Relief and Recovery Fund (RRRF) – NEW! May 14, 2020
The federal governement announced new funding to help support small and medium-sized businesses that do not qualify for, or have been declined for, current Government of Canada COVID-19 relief funding. The Regional Relief and Recovery Fund (RRRF) will have two funding options: 1) up to a $40,000 conditionally repayable contribution (interest-free loan) and 2) up to $500,000 unconditionally repayable contribution (interest-free loan).
The Application Guide for the RRRF program can be found here.
The application portal for the Canada Emergency Commercial Rent Assistance program has not yet opened. Please visit the Canada Housing & Mortgage Corporation site for more information.
Federal Government Announces $500M for Culture Sector – May 11, 2020
Funding is to protect jobs and support business continuity for organisations whose viability has been negatively affected. It is designed to complement the other federal government measures in response to COVID-19, including the Canada Emergency Response Benefit (CERB), the Canada Emergency Wage Subsidy (CEWS), the Business Credit Availability Program (BCAP), and the Canada Emergency Commercial Rent Assistance (CECRA) program.
Using a 2 phased approach, the wage subsidy program will be extended beyond June. This may help organisations that did not qualify for the CEWS to now access the program as we enter the peak season for productions, festivals, and museums. You can apply to the CEWS here.
- $198.3 million will be allocated to the arts and culture sector through existing funding programs at Canadian Heritage.
- $53 million will be provided to the heritage sector through the emergency component of the Museums Assistance Program.
- $3.5 million will be provided for COVID-related projects under the Digital Citizen Initiative.
- $55 million will be distributed through Canada Council for the Arts (CCA) in order to help artistic organisations that support artists.
- $115.8 million will support the Canadian audiovisual sector through the Canada Media Fund ($88.8 million) and Telefilm Canada ($27 million).
CEWS for businesses – posted April 23, 2020
The Prime Minister announced an update to the Canada Emergency Wage Subsidy (CEWS):
- A calculator has be launched to help businesses determine the amount they may receive with the CEWS. Through this website, businesses can learn more about the eligible employers and eligible employees for the wage subsidy.
- Beginning on Monday April 27th applications will be open for the Canada Emergency Wage Subsidy. More information on the application process can be found on the CEWS website.
Flexibility for Businesses Filing Taxes
The Canada Revenue Agency will allow all businesses to defer, until August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as installment, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.
CERB for individuals – posted April 15, 2020
Individuals making $1000 or less ARE NOW ELIGIBLE for the CERB. This information may not be updated on the official government site but you can find more here: canada.ca/covid19