COVID-19Small Business

COVID-19 Recovery Programs in Canada

The Federal Government announced in December 2021 new support for Covid-19 recovery Programs in Canada for businesses. This program is the Targeted COVID-19 support measures and is part of the governments COVID-19 Recovery Programs. Here is a brief list of the new programs that are available.

 

  • Locked down worker benefit that provides up to $300 per week for any worker that has been locked down due to COVID-19 restrictions
  • Local lock down program is aimed at supporting business that have been locked down. This is part of the wage and rent subsidies for businesses that have been locked down due to COVID-19 restrictions.
  • Caregiver benefit has been extended to 44 weeks and sickness benefit has been extend to 6 weeks. This benefit can be retroactively claimed back to November 2021 if required.
  • Tourism and hotel benefit is now up to 75% this includes Hotels, Travel Agencies, and restaurants and many other business that qualify as hospitality.
  • Hardest hit program has moved up to 50% coverage for qualifying businesses. This includes wage and rent subsidies
  • Recovery hiring program for businesses that have lost more than 10% revenue is now moved up to 50% subsidy for qualifying companies. This allows companies to hire back staff with less risk and to improve cash flow during the start up period.

 

Many of these programs are extensions to already existing programs with some new guidelines that should be applies. The programs have been extended to cover the 2020 tax season. These programs might be eligible for the 2020 tax season as well as moving into May 7 2022.

If you have any questions about the. Covid-19 recovery Programs in Canada for businesses or need help navigating these programs please give Scase and Partner a call We are offer phone, online conferences and if need in person meetings.

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