CERP BUSINESS

Canada’s COVID-19 Economic Response Plan

SUPPORT FOR BUSINESSES

 

Avoiding layoffs and rehiring employees

Canada Emergency Wage Subsidy (CEWS)

We are proposing a new Canada Emergency Wage Subsidy (CEWS) to support employers that are hardest hit by the pandemic, and protect the jobs Canadians depend on.

The subsidy would cover 75 per cent of an employee’s wages – up to $847 per week - for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15 per cent in March, and 30 per cent in April and May.

The program would be in place for a 12-week period, from March 15 to June 6, 2020.

We are also proposing that employers eligible for the CEWS be entitled to receive a 100-per-cent refund for certain employer contributions to Employment Insurance, the Canada Pension Plan, the Quebec Pension Plan, and the Quebec Parental Insurance Plan paid in respect of employees who are on leave with pay.

Extending the Work-Sharing program

We are extending the maximum duration of the Work-Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19. This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers.

Temporary changes to Canada Summer Jobs program

The Canada Summer Jobs program provides opportunities for youth to develop and improve their skills within the not-for-profit, small business, and public sectors, and supports the delivery of key community services.

We are making temporary changes to the Canada Summer Jobs program to allow employers to:

  • receive an increased wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee;
  • extend the end date for employment to February 28, 2021;
  • adapt their projects and job activities;
  • hire staff on a part-time basis.

end faq

 

Reduced and deferred payments

More time to pay income taxes

We are allowing all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act.

No interest or penalties will accumulate on these amounts during this period.

Deferral of Sales Tax Remittance and Customs Duty Payments until June

We are allowing businesses, including self-employed individuals, to defer until June 30, 2020 payments of the GST/HST, as well as customs duty owing on their imports.

Any GST/HST payment that becomes owing from March 27 until the end of May can be deferred until the end of June. For GST and customs duty payments for imported goods, deferral will include amounts owing for March, April and May.

These amounts were normally due to be submitted to the Canada Revenue Agency and the Canada Border Services Agency as early as the end of March 2020.

end faq

 

Access to credit

Establishing a Business Credit Availability Program

We established a Business Credit Availability Program (BCAP) to provide $40 billion of additional support through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC).

BDC and EDC are working with private sector lenders to coordinate on credit solutions for individual businesses, including in sectors such as oil and gas, air transportation, exports and tourism.

This program includes:

  • Loan Guarantee for Small and Medium-Sized Enterprises
    EDC is working with financial institutions to issue new operating credit and cash flow term loans of up to $6.25 million to SMEs.
  • Co-Lending Program for Small and Medium-Sized Enterprises
    BDC is working with financial institutions to co-lend term loans to SMEs for their operational cash flow requirements.
    Eligible businesses may obtain incremental credit amounts of up to $6.25 million through the program.

These programs roll out April 9, 2020 and interested businesses should work with their current financial institutions.

Canada Emergency Business Account (CEBA)

The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.

To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019.

This program roll out April 9, 2020 and interested businesses should work with their current financial institutions.

end faq

 

Supporting financial stability

Launching an Insured Mortgage Purchase Program

We launched an Insured Mortgage Purchase Program, in which we will purchase up to $150 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation.

This action will provide long-term stable funding to banks and mortgage lenders, help facilitate continued lending to Canadian consumers and businesses, and add liquidity to Canada’s mortgage market.

Bank of Canada actions

The Bank of Canada is acting in several ways to support the economy and financial system and stands ready to take any and all actions that it can to protect the well-being of Canadians during this difficult time. The Bank has responded by lowering interest rates, intervening to support key financial markets and providing liquidity support for financial institutions.

Office of the Superintendent of Financial Institutions actions

The Office of the Superintendent of Financial Institutions announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets. This action will allow Canada’s large banks to inject $300 billion of additional lending in to the economy.

end faq

 

Support for self-employed individuals

Canada Emergency Response Benefit (CERB)

We will provide a taxable benefit of $2,000 a month for up to 4 months to eligible workers who have lost their income due to COVID-19.

A portal with a simple questions will help us direct you to the service option that best fits your situation (i.e. eligibility for Employment Insurance benefits or not).

Deferral of Sales Tax Remittance and Customs Duty Payments until June

We are allowing businesses, including self-employed individuals, to defer until June 30, 2020 payments of the GST/HST, as well as customs duty owing on their imports.

Any GST/HST payment that becomes owing from March 27 until the end of May can be deferred until the end of June. For GST and customs duty payments for imported goods, deferral will include amounts owing for March, April and May.

These amounts were normally due to be submitted to the Canada Revenue Agency and the Canada Border Services Agency as early as the end of March 2020.

More time to pay income taxes

We are allowing all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act.

No interest or penalties will accumulate on these amounts during this period. 

end faq

 

PROCESSING UPDATE 2021

Congratuation!

Permanent Resident Approval


KIM, ** - Food service supervisor position
Oct. 2016 Express Entry Applied→Oct. 2016 Invitation Received→Jan. 2017 Final Approved


KIM, ** - Dental technician position
Oct. 2016 Express Entry Applied→Oct. 2016 Invitation Received→Jan. 2017 Final Approved


AN, ** - Hotel clerk supervisor position
Aug. 2016 Express Entry Applied→Aug. 2016 Invitation Received→Jan. 2017 Final Approved


SEO, ** - Retail store supervisor position
Jul. 2016 Express Entry Applied→Aug. 2016 Invitation Received→Jan. 2017 Final Approved


NOH, ** - Welder position
Jan. 2015 AINP Applied→Aug. 2015 Nominee Approved→Jan. 2017 Final Approved


CHI, ** - Welder position
Mar. 2015 AINP Applied→Aug. 2015 Nominee Approved→Jan. 2017 Final Approved


AMUNDSON, ** - Spouse sponsorship
May. 2015 Spouse Sponsorship Applied→Feb. 2017 Final Approved


 

AINP Approved


KIM, ** - Room attendant
Dec. 2016 Applied→Jan. 2017 Nominee Approved


YOON, ** - Alterationist
Jan. 2016 Applied→Jan. 2017 Nominee Approved


CHOI, ** - Housekeeping supervisor
Jan. 2016 Applied→Jan. 2017 Nominee Approved


CHOI, ** - Automotive service technician
Dec. 2016 Applied→Feb. 2017 Nominee Approved


KIM, ** - Retail store supervisor
Nov. 2016 Applied→Feb. 2017 Nominee Approved


KIM, ** - Sports instructor
Sep. 2016 Applied→Mar. 2017 Nominee Approved


LEE, ** - Cleaning supervisor
Nov. 2016 Applied→Mar. 2017 Nominee Approved


LEE, ** - Motel managing supervisor
Sep. 2016 Applied→Mar. 2017 Nominee Approved


KIM, ** - Food service supervisor
Oct. 2016 Applied→Mar. 2017 Nominee Approved


BERNABE, *** - Food service supervisor
Oct. 2016 Applied→Mar. 2017 Nominee Approved


KIM, ** - Retail store supervisor
Dec. 2016 Applied→Mar. 2017 Nominee Approved


 

SINP Approved


JUNG, ** - Food counter attendant
Nov. 2016 Applied→Jan. 2017 Nominee Approved


 

LMIA Approved


Retail store supervisor
Jun. 2016 Applied→Jan. 2017 Approved


Cook
Nov. 2016 Applied→Jan. 2017 Approved


Retail store supervisor
Aug. 2016 Applied→Jan. 2017 Approved


Retail store supervisor
Nov. 2016 Applied→Jan. 2017 Approved


Cook
Aug. 2016 Applied→Jan. 2017 Approved


Retail store supervisor
Dec. 2016 Applied→Jan. 2017 Approved


Cashier
Sep. 2016 Applied→Jan. 2017 Approved


Cook
Oct. 2016 Applied→Jan. 2017 Approved


Hotel clerk
Jun. 2016 Applied→Jan. 2017 Approved


Motel supervisor
Jun. 2016 Applied→Jan. 2017 Approved


Liquor store supervisor
Oct. 2016 Applied→Jan. 2017 Approved


Retail store supervisor
Dec. 2016 Applied→Jan. 2017 Approved


Cook
Sep. 2016 Applied→Feb. 2017 Approved


Food & Beverage Server
Jan. 2017 Applied→Feb. 2017 Approved


Cook
Oct. 2016 Applied→Mar. 2017 Approved


Cook
Dec. 2016 Applied→Mar. 2017 Approved


Cook
Feb. 2017 Applied→Mar. 2017 Approved


Retail store supervisor
Dec. 2016 Applied→Mar. 2017 Approved


Food service supervisor
Feb. 2017 Applied→Mar. 2017 Approved


Motel managing supervisor
Dec. 2016 Applied→Mar. 2017 Approved


Motel managing supervisor
Feb. 2017 Applied→Mar. 2017 Approved


Retail store supervisor
Feb. 2017 Applied→Mar. 2017 Approved


Retail store supervisor
Feb. 2017 Applied→Mar. 2017 Approved


Cleaning supervisor
Feb. 2017 Applied→Mar. 2017 Approved


Food service supervisor
Feb. 2017 Applied→Mar. 2017 Approved


Drywall installer
Feb. 2017 Applied→Mar. 2017 Approved


Martial arts Instructor
Jan. 2017 Applied→Mar. 2017 Approved


Food service supervisor
Jan. 2017 Applied→Mar. 2017 Approved


Updated until March 31, 2017

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