16 Dec Updates to COVID-19 Programs
Posted at 10:56h
in Latest News
On November 25, 2021, Chrystia Freeland, Deputy Prime Minister and Minister of Finance, introduced Bill C-2 in Parliament to implement the recently announced measures. This bill would:
- Extend the Canada Recovery Hiring Program until May 7, 2022, for eligible employers with current revenue losses above 10% and increase the subsidy rate to 50%.
- Create three new programs to support businesses still facing significant pandemic-related challenges:
- Tourism and Hospitality Recovery Program
- Hardest-Hit Business Recovery Program
- Local Lockdown Program
The CEWS and CERS program are coming to an end as the final period eligible for claims ends on October 23, 2021. The CEWS and CERS have declined over the final periods. Only eligible employers with declines of more than 10% will qualify as of July 4th.
Reminder that applications for CEWS and CERS are due within 180 days after the end of the qualifying period. There is no ability to late file a claim. If you think you might qualify for these programs, please get in touch with your contact at Clearline CPA.
