News & Insights

Update on Canadian Government
COVID-19 Assistance Programs

Tax Development Apr 07, 2021

In response to the ongoing global pandemic, the Canadian government continues to offer a range of assistance programs for affected businesses, from wage subsidies to low-interest loans. For example, the Canada Emergency Wage Subsidy (CEWS) offers up to 75% of eligible employee wages to help businesses keep their workers employed. Similarly, the Canada Emergency Rent Subsidy (CERS) assists businesses with rent, mortgage, and utility expenses to a maximum of 90%1 of eligible expenses. Certain provinces are also offering subsidy programs to businesses operating within their jurisdiction, such as Alberta, which provides support of up to $10,000 to affected small business owners who have experienced a significant revenue reduction.

There are also programs in place across Canada to support the procurement of personal protective equipment (PPE) and help businesses navigate government-mandated shutdowns. For instance, in Ontario, eligible small businesses can access up to $1,000 in PPE costs, and certain businesses2 that were mandated to close during the province-wide lockdown are eligible for up to $20,000 to help recover lost revenue.

In addition to government grants and subsidies, there are also federal and provincial loan programs for eligible businesses to access operational support funding. For example, the federal Regional Relief and Recovery Fund (RRRF) is administered by provincial agencies to help small businesses with fewer than 500 employees access up to $60,000 in an interest-free, conditionally repayable loan. Similarly, Quebec offers a low-interest loan program to help businesses that faced difficulties delivering goods and services as a result of reduced capacity or issues obtaining raw materials.

If you have any questions about your organization’s eligibility for federal or provincial COVID-19-related assistance programs, please contact your Ryan representative or our Government Grants team. Our professionals are up to date on the myriad of government programs currently available, and we can provide assistance at any stage of the application process. 

1 Specific conditions must be met as outlined by the federal government.
2 For example, small businesses with fewer than 100 employees that were required to close as of December 26, 2020 and had at least a 20% revenue decline in April 2020 (compared to 2019) would be eligible.