Announcement from Government of Canada

• The government is increasing the small business wage subsidy to 75 per cent for qualifying businesses 
• Allow businesses, including self-employed individuals, to defer all Goods and Services Tax/Harmonized Sales Tax (GST/HST) payments until June, as well as customs duties owed for imports 
• The $2000 a month Canada Emergency Response Benefit will be tax free 
• Announcement of a new Canada Emergency Business Account: 
  • This program will provide up to $25 billion to eligible financial institutions so they can provide interest-free loans to small businesses. 
    • Up to $40,000 to businesses with payrolls of less than $1 million 
    • A quarter of this loan (up top $10,000) is eligible for complete forgiveness 
  • These loans will be guaranteed and funded by the Government of Canada
• Launch the new Small and Medium-sized Enterprise Loan and Guarantee program that will enable up to $40 billion in lending, supported through Export Development Canada and Business Development Bank
  • Export Development Canada will provide guarantees to financial institutions so that they can issue new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized businesses 
• The government will be deferring GST and HST payments, as well as duties and taxes owed on imports, until June 2020 
• The federal government has closed all in-person Service Canada centres  
  • Canadians are being encouraged to apply online for employment insurance, pension benefits and other Service Canada services 

Ontario

• Spring Fiscal Update, the Ontario government announced the following supports for small businesses: 
• Provincial tax deferrals on the Employer Health Tax (EHT), Tobacco Tax, Fuel Tax, Beer Tax and Mining Tax and other provincially-administered taxes until August 31, 2020 
• WSIB premium deferrals until August 31, 2020 
• Business Education Property Tax deferrals for one payment quarter 
• Employer Health Tax (EHT) exemption threshold increased to $1-million for the next year
• Property tax reassessments being conducted this year for the 2021 tax year have been postponed 

New Brunswick 

• Late penalties on property taxes will be waived 
• Deferring interest and principal payments for six months on existing provincial loans 
• Providing loans to small businesses 
  • Loans up to $200,000 
  • Payments of interest and principal will not be required for the first 12 months 
• Support to mid-to-large sized employers 
  • Provide on request, working capital in excess of $200,000 
• Commercial leases 
  • No landlord can give any sort of notice to quit, re-enter or re-possess until May 31, 2020 for non-payment of rent that was due after March 19, 2020 

Nova Scotia

• NSBI has updated the Small Business Development Program 
• The Nova Scotia government is encouraging landlords to defer rent for business tenants affected by COVID-19. 
  • The Nova Scotia Department of Business has created a Rent Deferral Agreement (gross lease) and a Rent Agreement (Net Lease) business owners can use to engage and facilitate conversations with landlords 

Québec

• Concerted Temporary Action Program for businesses provides a minimum of $50,000 in emergency financing as a loan or loan guarantee 
• Businesses have until September 1 to pay any tax balance owing to Revenue Québec 
• Hydro-Québec will stop applying administration charges to unpaid bills and customers will not have power cut off for non-payment 
• Financière agricole du Québec 
  • Businesses can request a six-month moratorium on loan repayments 
  • Businesses have until May 21, 2020 to join the Crop Insurance Program 
  • Notices of assessment are extended to July 1, 2020 
• CNESST 
  • Businesses have until August 31 to pay CNESST premiums 
  • No interest or fees will be applied 
  • Businesses have until June 1 to file 2019 Wages Return