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New Targeted Federal COVID Supports Announced

Please see the below message from the Greater Saskatoon Chamber of Commerce.

 

New Targeted Federal COVID Supports Announced

 

The broad-based Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS) support programs will be expiring Sunday. This morning the Federal government has announced new targeted programs that will focus on sectors of the economy that have been hardest hit as well as two programs providing lockdown supports. Programs will start on Sunday and will run until May 7, 2022.

 

Tourism and Hospitality Recovery Program

This program is designed to provide wage and rent subsidies of up to 75% to hotels, tour operators, travel agencies and restaurants. Eligibility requirements will use a new “two-key” system whereby an employer will need to demonstrated significant revenue loss over the course of 12 months as well as the current month of application.

 

Hardest-Hit Business Recovery Program

For businesses that have experienced significant losses, using the same “two-key” eligibility approach as the Tourism and Hospitality Program, the Hardest Hit Recovery Program applicants may be eligible for a subsidy up to 50%.

 

Lockdown Support Program

In the case of potential further lockdowns in parts of the country, this program has been established to make a wage and rent subsidy available up to the maximum current amount until March 13 which will then be decreased by half until the expiry of May 7.

 

Canada Worker Lockdown Benefit

Similar to the Canada Emergency Response Benefit, workers that are subject to a lockdown, including those who are ineligible for employment insurance would receive $300 a week.

 

In addition to these new supports the government has extended the Canada Recovery Hiring Program until May 7, 2022, for eligible employers with current revenue losses above 10 per cent and increased the subsidy rate to 50%

 

For more information on each of these supports, click here.

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