FEDERAL GOVERNMENT ANNOUNCES NEW, TARGETED SUPPORT TO HELP BUSINESSES THROUGH THE SECOND WAVE OF THE COVID-19 PANDEMIC

Prime Minister Justin Trudeau announced new measures to support Canadian businesses through the COVID-19 pandemic:

  • The new Canada Emergency Rent Subsidy, which would provide simple and easy-to-access rent and mortgage support until June 2021for qualifying organizations affected by COVID-19.
  • A top-up Canada Emergency Rent Subsidy of 25 per cent for organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority, in addition to the 65 per cent subsidy.
  • The extension of the Canada Emergency Wage Subsidy until June 2021, which would continue to protect jobs by helping businesses keep employees on the payroll and encouraging employers to re-hire their workers.
  • An expanded Canada Emergency Business Account (CEBA), which would enable businesses, and not-for-profits eligible for CEBA loans—and that continue to be seriously impacted by the pandemic—to access an interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000.

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