MARCH 23rd, 2020 - As new information is continually being released about COVID-19, the LDCC Team is working hard to gather and summarize the information to share with our stakeholders. There have been several government announcements in the last few days about assistance that will be provided to businesses and individuals. Below is a summary of some of those measures which might help your business / organization. Provincial Government Announcements
Federal Government Announcements
- Work-Sharing Program (Federal) – temporary measures for the downturn in business due to COVID-19
- The one-week waiting period for EI sickness benefits will be waived for new claimants who are quarantined so they can be paid for the first week of their claim. Those who are eligible can apply online.
- The Emergency Support Benefit has been introduced to support workers who are not eligible for EI and who are facing unemployment. We will share details on how to apply once they are available.
- The Business Credit Availability Program (BCAP) will allow the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support, largely targeted to small and medium-sized businesses.
- A Temporary Wage Subsidy will be introduced to support businesses that are facing revenue losses and to help prevent lay-offs. The subsidy would be equal to 10% of remuneration paid during a period of time of up to three months, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.
- The Bank of Canada also took a series of actions to support the Canadian economy during this period of economic stress, enhance the resilience of the Canadian financial system, and help ensure that financial institutions can continue to extend credit to both households and businesses. This included cutting the interest rate to 0.75% as a proactive measure.
- The CRA will allow businesses to defer the payment of any income tax amounts that become owing on or after today and September 2020 until August 31, 2020
COVID - 19 RESOURCE LINKS
Haliburton, Kawartha, Pine Ridge District Health Unit:
Ontario Ministry of Health
Public Health Agency of Canada
World Health Organization
Decision-making Guidelines for Mass Gatherings, Government of Canada
Resources for Canadian Businesses: COVID-19, Government of Canada
Interim Guidance for Businesses and Employers, CDC
Business Continuity Plan and Templated for Entrepreneurs, BDC
Canada’s COVID-19 Economic Response Plan: Support for Canadians and Businesses, Government of Canada
EI Sickness Benefits
Emergency Support Benefit
Temporary Wage Subsidy