Measure: Canada Emergency Wage Subsidy
Eligibility: employers who saw a 15% drop in revenue in March and a 30% drop in revenue in April and May.
Description: Government will subsidize 75% of employee wages to a maximum of $847 per week per employee. No cap on how much an employer can receive. Employers are expected to make their best effort to top-up employees' salaries to bring them to pre-crisis levels. The top-up is not mandatory, though.
Measure: Temporary Wage Subsidy for Employers
Eligibility: Charities, nonprofits, Canadian controlled private corporations eligible for smallbusiness deduction
Description: Up to 10% of payroll costs incurred between March 18 and June 19. Maximum claim of $1375 for each employee. Maximum claim of $25,000 per employer. Employer calculates the subsidy, subtracts from the personal income taxes it remits to the federal government on behalf of employees.
Measure: Business Credit / Canada Emergency Business Account
Eligibility: Incorporated entities with total 2019 payrolls between $20,000 and $1.5 million
Organizations must have filed either a T3010 (for registered charities) or a T2 (for nonprofitcorporations)
Organizations need to derive part of their revenue from the sale of goods or services.
Description: Interest-free loans of up to $40,000.
25% of the loan will be forgiven if the loan is repaid by December 31, 2022.
Loans are arranged through organizations’ regular financial institutions.
Measure: Canada Emergency Commercial Rent Assistance
Eligibility: Small businesses, including nonprofits and charities
Description: This program will lower rent by 75% for small businesses that have been affected by COVID-19 (needs to be applied by property owner)