COVID-19: Employee Wage Support for Businesses

Last updated: October 6, 2020 at 11:50 a.m.

To help Canadians facing hardship as a result of the COVID-19 outbreak, economic measures are available to help stabilize the economy during this challenging period.

Provincial and Federal relief measures available to employers include:

• Canada Emergency Wage Subsidy: Help for businesses to keep or re-hire employees
• Extending the work-sharing program from 38 weeks to 76 weeks
• Advertising a job on Job Bank and receive maximum exposure through several job search platforms
• Providing up to $1.9 billion in financial relief by the Workplace Safety and Insurance Board (WSIB) allowing employers to defer payments for up to six months
• Cutting taxes by $355 million for about 57,000 employers by proposing a temporary increase to the Employer Health Tax (EHT) exemption from $490,000 to $1 million for 2020. With this plan, more than 90 per cent of private-sector employers would not pay EHT in 2020.
• Canada Emergency Business Account: Interest-free loans for small businesses and not-for-profits
• Canada Recovery Benefits: Benefits to help Canadians and businesses facing hardship as a result of the global COVID-19 outbreak
• Business Credit Availability Program: Credit to help cover operating costs due to the COVID-19 pandemic
• Regional Relief and Recovery Funds: Help for those unable to access other support measures
• Black Entrepreneurship Loan Fund (opening soon): Loans that will provide loans of between $25,000 and $250,000
• Support for Indigenous Businesses: Short-term, interest-free loans and non-repayable contributions
• Large Employer Emergency Financing Facility: Bridge financing for Canada’s largest employers facing financial challenges

Get access to one-on-one virtual support with applications for government resources and general business advice from the City’s BusinessTO Support Centre.