Last updated: April 22, 2020 at 3:52 p.m.
Get access to one-on-one virtual support with applications for government resources and general business advice from the City’s BusinessTO Support Centre
The Government of Canada is taking action to help Canadians facing hardship as a result of the COVID-19 outbreak, and has passed legislation to establish the Canada Emergency Response Benefit (CERB). A new set of economic measures has been announced to help stabilize the economy during this challenging period.
Provincial and Federal relief measures available to employers include:
- Introducing the new Canada Emergency Wage Subsidy (CEWS) subsidy that would cover 75 per cent of an employee’s wages for businesses of all sizes and across all sectors who have suffered a drop in gross revenues in April and May. The program would be in place for a 12-week period, from March 15 to June 6.
- Extending the work-sharing program from 38 weeks to 76 weeks.
- 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.
The Government of Canada provides a comprehensive list of resources on topics such as supporting employees, financial implications and business preparedness, business travel and events, and exporting and international business.