Good Evening All,
Today the Federal Government announced their plans to continue supporting businesses in need due to the pandemic. I know that many of you have expressed your concern and worry about the various programs that will be ending this Saturday, Oct. 23/21. Toronto has been in one of the longest periods of restrictions; and, although restrictions are starting to lift, some of you are still not allowed to fully open - restaurants, gyms, dance studios. We also know that even once everyone is able to open finances will still be a major concern.
The passage of the Budget Implementation Act provided the government with the authority to further extend support programs until November 20, 2021.
Today, the government is proposing to use this authority to provide tourism, hospitality and other hard-hit organizations with support until November 20, 2021 under two new programs:
- The Tourism and Hospitality Recovery Program.
- The Hardest-Hit Business Recovery Program
The government is also proposing to introduce legislation as soon as possible to extend these programs past November 20, 2021, until May 7, 2022, with authority for further amendments through regulations until July 2, 2022.
At the end of this email you will see 3 links - please take the time to read through all of the information so you have an idea of what is being offered. I've put together a short summary of what was announced today as follows:
Tourism & Hospitality Recovery & Hardest Hit Business Recovery Programs:
- These will begin on Oct. 24th and are designed to continue to support those industries located in areas that still have restrictions, just reopening after restrictions have been lifted, and/or have been hardest hit
- Wage and Rent support will be available to businesses in both programs - amounts and criteria are contained in the links below
- These programs will run from Oct. 24th through to May 7th, 2022
- From March to May 2022 support will be decreased by half
Temporary Lockdown Support:
- This will be put in place immediately
- This is a support program that can be activated should any region experience a surge in outbreaks and need to impose a temporary lock-down
- Support will be the maximum amount as listed in the above Hardest Hit Program
- This program will provide the safety net for Provinces to enact a temporary lockdown when needed without concern for securing financial support for impacted businesses and employees
- Fhis will include a Canada Worker Lockdown Benefit of $300.00 per week
Canada Sickness & Care Benefits:
- These 2 programs will be extended to May 7/22 and coverage time will be increased: Sickness Benefit will go from 4 weeks to 6 weeks: Care Benefit will go from 42 weeks to 44 weeks
Canada Hiring Benefit:
- We already knew about this one - it is designed for employers to help pay more staff or to pay for current staff to work more hours
Once further details are released I will circulate to all of you. In the meantime, here are the links: