Good Afternoon All,
Some good news....
Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, announced that the government intends to extend the current rate structures for the following subsidies from March 14 to June 5, 2021. Specifically:
- The maximum wage subsidy rate for active employees would remain at 75 per cent;
- The maximum rent subsidy rate would remain at 65 per cent; and
- Lockdown Support would remain at 25 per cent and continue to be provided in addition to the rent subsidy, providing eligible hard hit businesses with rent support of up to 90 per cent.
I will forward further details as they become available but these extensions will provide some certainty and continued support for workers, businesses and other affected organizations in the face of the ongoing challenges, especially for those of us in the Toronto region.
Here is the link to the official announcement:
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Susan Puff
Executive Director, Broadview Danforth BIA