The federal government has announced some new funding for small and medium sized businesses impacted by COVID-19, and we continue to advocate for parallel provincial protections. For a list of the federal and provincial funding available to your business, fill out the online tool at innovation.canada.ca
The City of Toronto has announced a range of economic support and recovery measures for individuals and businesses impacted by the COVID-19 pandemic. Learn more here.
The federal government has proposed a Canada Emergency Wage Subsidy would cover 75 per cent of salaries for qualifying businesses, for up to 3 months, retroactive to March 15, 2020. Employers of all sizes and across all sectors of the economy would be eligible with the exception of public sector entities. This program is designed to help employers hardest hit by the COVID-19 pandemic to keep and retain workers. Organizations that do not qualify for the Canada Emergency Wage Subsidy may qualify for the previously announced wage subsidy of 10 per cent of remuneration paid from March 18 to before June 20, 2020. Eligible employers would be able to access the Canada Emergency Wage Subsidy by applying through a Canada Revenue Agency online portal. More details on how to apply will follow soon.