COVID-19 Federal Support Programs
As lockdowns across the country continue, business owners should consider utilizing available Federal Government support programs. These programs help businesses and their employees adapt and persevere through this difficult period. Here’s some details on programs available:
Canada Emergency Wages Subsidy (CEWS)
Covers part of your employee wages, retroactive to March 15, 2020. This subsidy will enable you to re-hire workers, help prevent further job losses, and ease back into normal operations. The deadline to apply for periods 1 to 5 is January 31, 2021.
Starting with period 6, the deadline for CEWS is 180 days from the ending date of the period.
Canada Emergency Rent Subsidy (CERS)
Geared towards businesses, not for profits, and charities that have experienced a drop in revenue due to the COVID-19 pandemic and may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021. Applications for each designated period are due 180 days after the period end.
Criteria for the CERS are complex - but on a surface level include tests of revenues and incurring qualifying eligible expenses to non-arms length parties.
Don’t hesitate to speak to our Partners at Evolve if you have any questions surrounding these programs and how they can help - including assistance with your application. Click the link below for information on more COVID-19 resources.
