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As your business advisor, we are committed to helping you navigate the impact of the pandemic to save you time and help your business through the crisis.
Updated October 22, 2021
The government has announced several economic measures to assist employers and their employees as a response to the COVID-19 pandemic.
Small and medium sized businesses who are implementing Alberta’s Restrictions Exemption Program can soon apply for a one time payment of $2000. Additional grant funds will be available to develop or procure training. Stay tuned for more information as the application process begins.
These programs begin October 24, 2021 and will run until November 20, 2021 with possible extensions through May 7, 2022 and the opportunity to make amendments to the program through July 2, 2022. THRP will provide help through wage and rent subsidies for hotels, tour operators, travel agencies, and restaurants with a subsidy rate of up to 75%. HHBRP will provide wage and rent subsidy help for other businesses that have been deeply affected by the pandemic with a subsidy rate of up to 50%.
A lockdown support initiative has been announced that will help businesses subjected to further shutdowns. A wage and rent subsidy will be available up to the maximum amount for the duration of the business’s closure. The subsidy rates will be available through March 13, 2022 and will then decrease by half until they expire on May 7, 2021.
The CRA has launched the Canada Recovery Hiring Program (CRHP) to help businesses with employee wages. This program has been extended to November 20, 2021 and will increase the subsidy rate to 50%. An extension to May 7, 2022 is likely and amendments to the program are permitted until July 2, 2022.
Canadian businesses, non-profit organizations, and charities who have seen a drop in revenue due to COVID-19 may be eligible for a subsidy to cover part of their commercial rent or property expenses. This program EXPIRES on October 23, 2021.
The Canada Emergency Wage Subsidy (CEWS) was announced on March 27, 2020 to provide eligible employers a 75% wage subsidy for up to 12 weeks, retroactive to March 15, 2020. This program EXPIRES on October 23, 2021.
Eligible businesses will receive a $40,000 interest free loan for immediate financial support to cover short term operating expenses, payroll and other non-deferrable expenses which are critical to sustain business continuity. The deadline for applications has now passed.
The program is administered through CMHC to provide rent relief for small businesses struggling to pay their landlords due to financial hardship as a result of COVID-19 for the months of April, May and June 2020. The deadline for applications has now passed.
Work-Sharing (WS) is an adjustment program designed to help employers and employees avoid layoffs when there is a temporary reduction in the normal level of business activity that is beyond the control of the employer. The measure provides income support to employees eligible for Employment Insurance benefits who work a temporarily reduced work week while their employer recovers.
The Government of Canada has announced temporary changes to the Canada Summer Jobs Program (CSJP). Now, employers who hire summer students can apply for a subsidy of up to 75 per cent of the provincial or territorial hourly minimum wage. Applications for Summer 2021 are closed.
