A new calculator is being launched on the Canada Revenue Agency website to help businesses determine how much they will be able to claim through the wage subsidy program. He said employers will be able to apply as of Monday, April 27 for the 75 per cent salary top-up to keep staff on the payroll.
The Government of Canada is:
These measures are part of the Government of Canada’s COVID-19 Economic Response Plan, which has committed more than $107 billion in support to Canadians and businesses facing hardship as a result of the pandemic. The government will continue to monitor and respond to the wide-ranging impacts of COVID-19, and take additional actions as needed to protect the health and safety of Canadians and stabilize the economy.
The Government of Canada has announced a number of measures to support Canadian businesses facing financial hardship as a result of the COVID-19 pandemic, including:
|Canada's Economic Response Plan||
Access to credit
Supporting financial stability
|Canada Emergency Commercial Rent Assistance||
The federal help, expected to lower rent by 75 per cent for affected small businesses, will be provided in partnership with the provinces and territories, which have jurisdiction over rents.
The Canada Emergency Commercial Rent Assistance for small businesses will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of three monthly rent payments payable by eligible small business tenants experiencing financial hardship during April, May and June.
The loans will be forgiven if the mortgaged property owner agrees to reduce the eligible small business tenants’ rent by at least 75 per cent for the three corresponding months under a rent forgiveness agreement, which will include a pledge not to evict the tenant while the agreement is in place.
The small business tenant would cover the remainder, up to 25 per cent of the rent.
Affected small business tenants are those paying less than $50,000 per month in rent and who have temporarily ceased operations, or have experienced at least a 70-per-cent drop in pre-COVID-19 revenues.
Payroll Support Subsidy for SMEs will go from 10% to 75% for wages retroactive March 15th
If your business revenues have declined by at least 30% because of COVID-19 you are eligible for the new wage subsidy
The Emergency Response Benefit like EI will be taxable, but the money will not be removed at source and the full amount will be accessible immediately.
Creation of Canada Emergency Business Account
Deferral of GST/HST payments and duty/taxes owed on import until June
The BC Government is deferring many provincial tax filings to Sept 30, 2020. This is effective as of March 23, 2020, and means the deadline to file and pay for the following taxes has been extended. They include:
The BC Government is also delaying the increase of the Carbon Tax to Sept 30, 2020 (initially planned for April 1, 2020), and cutting the Provincial Property tax (i.e. Provincial School Tax) rate in half this year for commercial and industrial properties (Class 4, 5 and 6). The latter is especially important, as it is a tax cut and will translate into meaningful savings for your business if you are responsible for paying property taxes (e.g. own the property or are on a triple net lease).
The tax on carbonated, sweetened beverages which was introduced in Budget 2020 is being postponed until further notice.
For more detailed information, please visit the Alberta government’s COVID-19 information page.
Three Month PST Remittance Deferral and Audit Suspension: Effective immediately, Saskatchewan businesses who are unable to remit their PST due to cashflow concerns will have relief from penalty and interest charges. Businesses that are unable to file their provincial tax return(s) by the due date can submit a request for relief from penalty and interest charges on their returns. Audit program and compliance activities have been suspended to allow businesses time to focus on the health and safety of their customers and staff, reduce impacts to business operations, and minimize the spread of the virus through reduced audit travel.
Changes to Employment Standard Regulations: In addition to changes made to changes to The Saskatchewan Employment Act that introduced a new unpaid public health emergency leave and removed the 13-week employment requirement to access sick leave and the requirement for a doctor’s note to access sick leave, The Employment Standard Regulations have been amended to:
These amendments create a balance for employers and employees where the difficult decision may be made to lay-off employees due to public health emergencies. In this circumstance, employees would have immediate access to new federal employment insurance programs, while keeping employers financially stable to ensure employees have a job to return to.
Business Response Team: To provide support to Saskatchewan businesses seeking to navigate the uncertain conditions caused by COVID-19, the Government of Saskatchewan will be establishing a single window information webpage for businesses to access information and receive timely updates on provincial support initiatives. This will be complemented by the establishment of a Business Response Team, led by the Ministry of Trade and Export Development, which will work with businesses to identify program supports relevant to particular businesses available to them both provincially and federally.
An email address and toll-free telephone number have been created to provide businesses a single point of contact to help answer questions. A single window information webpage has also been developed for businesses to access information and receive timely updates on provincial support initiatives. The webpage includes information on both provincial and federal support measures, including the province’s recently announced financial support program.
SaskBuilds Single Procurement Service: The Government of Saskatchewan has been contacted by many businesses, individuals and groups who have offered ideas and solutions. As such, the SaskBuilds Single Procurement Service will serve as a central point of contact and co-ordination. If you are a Saskatchewan business, innovator, or supplier and you think you have a solution that can help us fight COVID-19, you may direct your submission to firstname.lastname@example.org.
As part of the Manitoba Protection Plan, the province is providing the following protections for the next six months until Oct. 1:
The government is also deferring provincial income tax and corporate income tax filing deadlines and payments to coincide with the current revised federal deferral of income tax to Aug. 31 and has indicated it would be willing to extend these deferrals until Oct. 1, should the federal government agree.
March 22, 2020: Manitoba Government extend tax payment filing deadlines for business
The province is extending the April and May filing deadlines for small and medium-sized businesses with monthly remittances of no more than $10,000. Businesses will have up to two additional months to remit retail sales taxes and the payroll tax.
This extension gives small and medium businesses a two month breather to deal with COVID-19.
The Ministry of Finance will also work with businesses regarding flexible repayment options above the $10,000 cap.
Retail sales tax (RST) returns for small and medium-sized businesses with monthly RST remittances of no more than $10,000 per month that would normally be due on April 20th and May 20th will now be due on June 20, 2020.
Businesses that file on a quarterly basis that have a due date of April 20, 2020 will now have the due date extended to June 22, 2020.
Businesses that qualify for the above filing extension that were not able to file and remit their February sales tax return by the March 20th due date will not be assessed a late filing penalty and interest will not be applied until after June 22, 2020.
Interest will continue to apply on all outstanding tax debts prior to the March remittance deadlines.
For further information, please see the Manitoba Government’s Taxation Bulletin Notice HE 20-03.
Health and Post-Secondary Education Tax Levy (also known as HE Levy) returns for small and medium businesses with monthly HE Levy remittances of no more than $10,000 per month that would normally be due on April 15th and May 15th will now be due on June 15, 2020.
Businesses that qualify for the above filing extension that were not able to file and remit their February HE Levy tax return by the March 16th due date will not be assessed a late filing penalty and interest will not be applied until after June 15, 2020.
Interest will continue to apply on all outstanding tax debts established prior to the March remittance deadlines.
Businesses will still receive paper returns in the mail or web notice reminders by email for return periods March and April.
For further information, please the Manitoba Government’s Taxation Bulletin Notice 20-01
Manitoba Government announces temporary exception to Employment Standards layoff rules during the COVID-19 pandemic:
The Manitoba Government has added a temporary exception to employment standards regulations to give employers more time to recall employees laid off as a result of COVID-19. Under current employment standards legislation, employees who have been laid off for eight or more weeks in a 16-week period are deemed to have been terminated and are entitled to wages in lieu of notice.
After consulting and receiving the support of the Labour Management Review Committee, which includes representatives of both employers and labour organizations, the province is making temporary amendments that would ensure any period of layoff occurring after March 1, 2020, will not be counted toward the period after which a temporary layoff would become a permanent termination.
This measure is temporary and specific to situations where employees will eventually be rehired once the COVID-19 crisis has subsided and economic activity picks up again.
The province will suspend the exception when the province begins to recover economically.
For more information, please see Employment Standards' Backgrounder: COVID-19 - Temporary Amendments to Termination of Employment Regulations
In its Spring Fiscal Update, the Ontario government announced the following measures to support small businesses:
The Ontario government also announced an end to Time-of-Use electricity pricing during the COVID-19 outbreak. Effective immediately, electricity will be priced at "low-peak" - 10.1 cents/kwh - at all hours of the day for the next 45 days.
The Emergency Assistance Program for Small and Medium-Sized Businesses targets SMEs that are experiencing financial difficulties as a result of the crisis and who require working capital of less than $50,000.
This initiative is in addition to the Temporary Concerted Action Program for Businesses (PACTE) announced on March 19, which is aimed at businesses in need of cash in excess of $50,000 for their working capital.
Waiving late penalties on property taxes:
Deferring interest and principal payments on existing loans:
Support for small business
|Prince Edward Island||
For more click here
|Newfoundland and Labrador||
Supports for Business
Paid Sick Leave Rebate for employers: The Yukon government accounted a new rebate program for employers to help benefits workers and self-employed individuals (announced March 26). The rebate covers a maximum of 10 days of wages per employee (not including benefits, payroll taxes, or dedcucation) to allow for sick leave and/or for a 14 day self-isolation period. The maximum daily rebate is $378.13 per day, per employee. The program will run from March 11, 2020, to September 11, 2020.
Information on business closure orders
The Yukon government has ordered the closer of the following businesses:
In addition, the Yukon government has issued the following orders:
To see the Yukon government’s most recent announcements, click here.
One-time relief grant of $5000 for small businesses affected by COVID-19.
Prospective applicants can apply on the Government of Nunavut's website, or by contacting a staffer who works at their regional Economic Development office.