What to Do: (See programs below for details) Updated: April 16, 2020
Canadian Business Resilience Network www.cbrn.ca - Up To Date info on government programs, news and recovery.
Find the benefits relevant to you through this questionnaire https://newsinteractives.cbc.ca/coronavirusbenefits/
Access to Capital
Canada Emergency Business Account - Interest-free loans of up to $40,000 to help cover operating costs during a period where their revenues have been temporarily reduced due to COVID-19. This program is for businesses with a total payroll between $20,000 to $1.5 million in 2019. Repayment of the loan on or before December 31, 2022 will result in loan forgiveness of 25% (up to $10,000). This will better position companies to quickly return to providing services to their communities and create employment. Applications are available through your primary bank or credit union.
Tax flexibility: Businesses can defer paying income tax until September 1, 2020. GST payments, duties, and other remittances can be deferred until June 2020
Wage and Income Support
Three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA)
To support businesses and help prevent layoffs, the government is providing eligible business and non-profits a temporary 75% wage subsidy for a period of three months retroactive to March 15, 2020. To prepare business will need to prove 15% decrease in revenue for March and 30% decrease in revenue after and show wages paid. Employers will have to apply each month for the 3 month period. Still waiting on application details - Portal is expected soon. Government encourages businesses to ensure they are signed up with the CRA for direct deposit.
The Work Sharing Program helps eligible employers to retain skilled employees and workers to remain employed. Program has been streamlined and expanded to meet the needs of employers during the COVID-19 crisis. Duration of agreements has been extended from 38 weeks to 76 weeks.
Canada Emergency Response Benefit provides direct financial support of $500 per week for up to 16 weeks to Canadians who have lost their job, have had their hours reduced, have had their EI recently run out, are seasonal workers, are sick, quarantined, or taking care of someone who is sick with COVID-19, as well as working parents who must stay home without pay to care for children who are sick or at home because of school and daycare closures. Employed workers who earn up to $1,000 per month may still qualify for the CERB. CERB applications are available through Service Canada and the CRA, though please only apply through one of the portals – not both. The portal for accessing the CERB would be available in early April. EI eligible Canadians who have lost their job can continue to apply for EI here, as can Canadians applying for other EI benefits.
Employment Insurance changes to the EI program include waiving the one-week waiting period for and priority application processing for COVID-19 related claims.
GST Credit: Credits available will be increased up to $400 for single adults and $600 for couples (more details will be available closer to the rollout date).
The provincial government is extending tax filing and payment deadlines to September 30th, 2020, including:
B.C. Business COVID-19 Support Service - Will serve as a one-stop resource to answer pressing questions about support available to businesses from the provincial and federal governments, industry, and community partners during this time. As part of the support service, a dedicated website – https://covid.smallbusinessbc.ca – will feature announcements from industry and community partners, as well as a variety of important resources, including webinars and practical tools. Advisors at the B.C. Business COVID-19 Support Service can be reached by phone toll-free at
1-833-254-4357, by email firstname.lastname@example.org and live chat. Hours of operation are Monday to Friday, from 8:00 a.m. to 6:00 p.m. and Saturday from 10:00 a.m. to 4:00 p.m.
Support will be available in several languages and a call-back feature will be in place to help manage high call volumes.
Defer ICBC payments for 90 days. You need to use the online tool before your insurance is due. Individual & fleet insurance is eligible
Provincial Support for Individuals
Business to Business SUPPORT