Hon. Karina Gould
Member of Parliament for Burlington
Support for Businesses

Avoiding layoffs, rehiring employees and creating new jobs

Canada Emergency Wage Subsidy (CEWS)

We are covering 75% of an employee's wages – up to $847 per week - for eligible employers. The CEWS will allow you to re-hire your employees and avoid layoffs during the crisis.

The program will be in place until August 29. Apply for the CEWS  
Temporary 10% Wage Subsidy

The Temporary 10% Wage Subsidy is a three-month measure that allows eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency.

Learn more about the Temporary 10% Wage Subsidy for Employers  
Extending the Work-Sharing program

We have extended the maximum duration of the Work-Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19. This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers.

Apply to the Work-Sharing program  
Creating new jobs and opportunities for youth

We are creating up to 116,000 jobs, placements, and other training opportunities to help students find employment and develop valuable skills this summer and over the coming months.

We also made temporary changes to the Canada Summer Jobs program to allow employers to:
  • receive an increased wage subsidy, so that private and public sector employers can also receive up to 100 % of the provincial or territorial minimum hourly wage for each employee;
  • extend the end date for employment to February 28, 2021;
  • adapt their projects and job activities;
  • hire staff on a part-time basis.
Learn more about the various programs:

Taxes and tariffs

More time to pay income taxes

We are allowing all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act.

No interest or penalties will accumulate on these amounts during this period. View all income tax filing and payment deadlines  
Deferral of Sales Tax Remittance and Customs Duty Payments until June

We are allowing businesses, including self-employed individuals, to defer until June 30, 2020 payments of the GST/HST, as well as customs duty owing on their imports.

Any GST/HST payment that becomes owing from March 27 until the end of May can be deferred until the end of June. For GST and customs duty payments for imported goods, deferral will include amounts owing for March, April and May. These amounts were normally due to be submitted to the Canada Revenue Agency and the Canada Border Services Agency as early as the end of March 2020. Learn more about the deferral of GST/HST tax remittances and customs duty owing on imports  
Waiving tariffs on certain medical goods

We are waiving tariffs on certain medical goods, including PPE such as masks and gloves.

This will reduce the cost of imported PPE for Canadians, help protect workers, and ensure our supply chains can keep functioning well. Learn more about this tariff relief  

Financial support, loans and access to credit

Canada Emergency Business Account (CEBA) interest-free loans

The Canada Emergency Business Account (CEBA) provides interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced. This program has been implemented by banks and credit unions in collaboration with Export Development Canada.

Business owners can apply for support from CEBA through their banks and credit unions. Learn more about the CEBA  
Loan Guarantee for Small and Medium-Sized Enterprises

Through the Business Credit Availability Program, Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized enterprises (SMEs).

This financing support is to be used for operational expenses and is available to both exporting and non-exporting companies. This program is now available at various banks and credit unions. Learn more about the loan guarantee  
Co-Lending Program for Small and Medium-Sized Enterprises

Through the Business Credit Availability Program, Business Development Canada (BDC) is working with financial institutions to co-lend term loans of up to $6.25 million to SMEs for their operational cash flow requirements.

The program offers differing maximum finance amounts based on business revenues. This support is available until or before September 30, 2020. This program is now available at various banks and credit unions. Learn more about the Co-lending program  
Regional Relief and Recovery Fund (RRRF)

We are providing nearly $962 million through the Regional Relief and Recovery Fund (RRRF) to help more businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and to local economies. This fund is specifically targeted to those that may require additional help to recover from the COVID-19 pandemic, but have been unable to access other support measures.

Apply to the RRRF through your local Regional Development Agency  
Canada Emergency Commercial Rent Assistance (CECRA)

Canada Emergency Commercial Rent Assistance (CECRA) provides relief for small businesses experiencing financial hardship due to COVID-19.

Over the course of the program, property owners will reduce rent by at least 75 % for the months of April and May (retroactive), and June, for their small business tenants. CECRA will cover 50 % of the rent, with the tenant paying up to 25 % and the property owner forgiving at least 25 %. Apply to CERCA  
Mid-Market Financing Program

Through the Business Credit Availability Program, the Business Development Canada’s (BDC) Mid-Market Financing Program will provide commercial loans ranging between $12.5 million and $60 million to medium-sized businesses whose credit needs exceed what is already available through the Business Credit Availability Program and other measures.

BDC anticipates that qualifying companies will have annual revenues in excess of approximately $100 million. More details will be made available soon.  
Mid-Market Guarantee and Financing Program

Through the Business Credit Availability Program, EDC’s Mid-Market Guarantee and Financing Program will bring liquidity to companies who tend to have revenues of between $50 million to $300 million, to sustain operations during this uncertain period. EDC will continue to work with Canadian financial institutions to guarantee 75 % of new operating credit and cash-flow loans – ranging in size from $16.75 million to a maximum of $80 million.

These expanded guarantees are available to exporters, international investors and businesses that sell their products or services within Canada. More details will be made available soon.  
Businesses in the territories

We are making available $15 million in non-repayable support for businesses in the territories to help address the impacts of COVID-19. This support will assist businesses with operating costs not already covered by other Government of Canada measures.

Apply to the Northern Business Relief Fund  
Large Employer Emergency Financing Facility (LEEFF)

The Large Employer Emergency Financing Facility (LEEFF) provides bridge financing to Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing, in order to keep their operations going.

The additional liquidity provided through LEEFF allows Canada’s largest businesses, their workers and their suppliers to remain active during this difficult time, and position them for a rapid economic recovery. This program is delivered by the Canada Development Investment Corporation, in cooperation with Innovation, Science and Economic Development Canada and the Department of Finance. Apply to the LEEF program  
Industrial Research Assistance Program (IRAP) for early-stage businesses

We are investing $250 million to assist innovative, early-stage companies that are unable to access other COVID-19 business supports through the Industrial Research Assistance Program (IRAP).

IRAP provides advice, connections, and funding to help Canadian small and medium-sized businesses increase their innovation capacity and take ideas to market. Applications have closed Learn more about the IRAP
Additional support by sector

Targeted support

Young entrepreneurs

We are providing $20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19. The funding will allow Futurpreneur Canada to provide payment relief for its clients for up to 12 months.

Learn more about Futurpreneur Canada  
Women entrepreneurs

We are providing $15 million in new funding through the Women Entrepreneurship Strategy (WES). This funding will be available to existing WES Ecosystem Fund recipient organizations, enabling these third-party organizations to provide timely support and advice to women entrepreneurs facing hardship due to the COVID-19 pandemic.

Learn more about the WES Ecosystem Fund  

Support for self-employed individuals

Canada Emergency Response Benefit (CERB)

We are providing a taxable benefit of $2,000 every 4 weeks for up to 16 weeks to eligible workers who have lost income or stopped working due to COVID-19.

An online questionnaire will help us direct you to the service option that best fits your situation (i.e. eligibility for Employment Insurance benefits or not). Apply for the CERB You can also apply over the phone: 1‑833‑966‑2099  
Deferral of Sales Tax Remittance and Customs Duty Payments until June

We are allowing businesses, including self-employed individuals, to defer until June 30, 2020 payments of the GST/HST, as well as customs duty owing on their imports.

Any GST/HST payment that becomes owing from March 27 until the end of May can be deferred until the end of June. For GST and customs duty payments for imported goods, deferral will include amounts owing for March, April and May. These amounts were normally due to be submitted to the Canada Revenue Agency and the Canada Border Services Agency as early as the end of March 2020.

Learn more about the deferral of GST/HST tax remittances and customs duty owing on imports

 
More time to pay income taxes

We are allowing all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act.

No interest or penalties will accumulate on these amounts during this period. View all income tax and filing payment deadlines  

Indigenous businesses

Relief measures for Indigenous businesses

We are providing $306.8 million in funding to help small and medium-sized Indigenous businesses, and to support Aboriginal Financial Institutions that offer financing to these businesses.

The funding will allow for short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, which offer financing and business support services to First Nations, Inuit, and Métis businesses. Financial support for Indigenous businesses will be provided through Aboriginal Financial Institutions, and administered by the National Aboriginal Capital Corporations Association and the Métis capital corporations in partnership with Indigenous Services Canada. Learn more about this measure for Indigenous SME  
Supporting business through the pandemic and into recovery

We announced $133 million in new funding to support Indigenous business through the pandemic and into recovery. Of these additional funds, $117 million will reach more community-owned First Nation, Inuit and Métis businesses including microbusinesses, who are not eligible for existing business support measures.

Indigenous communities rely on these businesses to provide revenue for important services, and to create meaningful jobs.  
Supporting the Indigenous tourism industry

We announced a new stimulus development fund that will provide $16 million to support the Indigenous tourism industry. The Indigenous Tourism Association of Canada will administer the fund to businesses across the country that have lost revenue due to COVID-19.

Indigenous peoples can also access all other benefits.  

Supporting financial stability

Relief for federally regulated pension plan sponsors

We are providing immediate, temporary relief to sponsors of federally regulated, defined benefit pension plans in the form of a moratorium, through the remainder of 2020, on solvency payment requirements for defined benefit plans.

This relief will help ensure that employers have the financial resources they need to maintain their operations and their pension plans, and to protect the retirement security of their workers and retirees.  
Launching an Insured Mortgage Purchase Program

We launched an Insured Mortgage Purchase Program, in which we will purchase up to $150 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation.

This action will provide long-term stable funding to banks and mortgage lenders, help facilitate continued lending to Canadian consumers and businesses, and add liquidity to Canada's mortgage market. Learn more about the Insured Mortgage Purchase Program  
Bank of Canada's actions

The Bank of Canada is acting in several ways to support the economy and financial system and stands ready to take any and all actions that it can to protect the well-being of Canadians during this difficult time. The Bank has responded by lowering interest rates, intervening to support key financial markets and providing liquidity support for financial institutions.

Learn more about Bank of Canada's actions  
Office of the Superintendent of Financial Institutions actions

The Office of the Superintendent of Financial Institutions announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets. This action will allow Canada's large banks to inject $300 billion of additional lending in to the economy.

Find the support you need for your business

Burlington Constituency Office
777 Guelph Line Suite 209
Burlington, Ontario
L7R 3N2

Telephone:
905-639-5757

Fax:
905-639-6031
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Fri: 9:30am to 4:30pm (By Appointment Only)
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Sun: Closed

Hill Office
House of Commons
Ottawa, Ontario
K1A 0A6

Telephone:
613-995-0881

Fax:
613-995-1091
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