Federal Initiatives for Industry

Federal Initiatives for Industry

In response to the rapidly evolving Covid-19 pandemic, the Federal government had rolled out numerous programs aimed at elevating the pressures felt by many Canadians. Below is a high-level list of some of the programs targeted at industry. Please note that this list may not be exhaustive and that you should click on the provided links to ensure you are getting the most updated and recent information.

Temporary changes To Canada Summer Jobs Program

  • 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.
  • Applications are closed at this time. Reach out to funding rep for your own project.

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.

Business Credit Availability Program (BCAP)

  • Loan Guarantee for Small and Medium Sized Enterprises: new operating credit and cash flow loans of up to 6.25 million to SMEs
  • Co-Lending Program for SME: BDC is working with financial institutions to co-lend loans to SME's for their operational cash flow requirements.
  • These will roll out mid April

Canadian Emergency Business Account

  • Interest free loans of up to $40,00 to small businesses and not-for-profits must have paid between $50,000 and $1million in payroll for 2019

Launching an Insured Mortgage purchase program

  • Gov will purchase up to 150 Billion of insured mortgage pools through the Canada mortgage and housing corporation

Office of the Superintendent of Financial Institutions

  • Lowered the domestic stability buffer by 1.25% allowing banks in inject 300 billion of additional lending into the economy

Increasing credit available for agriculture, fisheries and aquaculture

  • Additional $5 billion to producers, agribusiness, and food processors. From farm credit Canada

Support for Airports

  • Waiving ground lease rents from March 2020 to December 2020 for 21 airports that pay rent to the federal gov.

Support for Broadcasters

  • CRTC will not issue letters requesting payment for part 1 license fees for the 2020-21 fiscal year.

Temporary Foreign Worker Program

  • Allowing foreign workers to enter Canada recognizes of the vital role these workers play in supporting food security and other industries critical to the Canadian economy.

WIL Digital Response Measures To Support Organizations During COVID-19

  • ICTC’s WIL Digital is an innovative Work Integrated Learning (WIL) program that helps employers grow their businesses. A wage subsidy of up $7,000 is available for employers that hire post-secondary students and provide them with valuable hands-on experience in IT and digital roles. WIL Digital is funded by the Government of Canada through the Student Work Placement Program (SWPP).

Key changes to WIL Digital for the upcoming spring-summer term will include:

  • Flexibility with start and end dates as well as the duration of the placement(s)
  • Remote work option for students now available
  • 75% of the wage subsidy will be issued upfront upon contract signing and balance will be paid to employers upon completion of the placement
  • Pre-approval process allows employers to apply before identifying a student
  • For any questions please email WIL_Digital@ictc-ctic.ca

Work Sharing Program

  • Work-Sharing (WS) is a program that helps employers and employees avoid layoffs when there is a temporary decrease in business activity beyond the control of the employer. The program provides Employment Insurance (EI) benefits to eligible employees who agree to reduce their normal working hours and share the available work while their employer recovers. Work-Sharing is an agreement between employers, employees and the Government of Canada.

Canada Emergency Wage Subsidy (CEWS)

  • We are covering 75% of an employee's wages – up to $847 per week - for eligible employers. The CEWS will allow you to re-hire your employees and avoid layoffs during the crisis.
  • The program will be in place until August 29, 2020.
  • Employers eligible for the CEWS are entitled to receive a 100% 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.

Temporary 10% wage subsidy

  • Three-month measure that will allow eligible employers to reduce the amount of payroll deduction required to be remitted to the CRA.
  • Eligibility includes: Individuals (excluding trusts), Partnerships, non-profit organizations, registered charity, Canadian controlled private crop, have an existing business number and payroll program account with the CRA on March 18th 2020, pay salary/wages/bonuses/ other remuneration to an eligible employee.
  • The subsidy is equal to 10% of the remuneration you pay from March 18, 2020 to June 19, 2020, up to $1,375 for each eligible employee to a maximum of $25,000 total per employer.

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

Emergency Support Fund for Cultural, Heritage and Sport Organizations

  • The Emergency Support Fund will provide $500 million in additional temporary relief to support cultural, heritage and sport organizations and help them plan for the future.
  • Up to $326.8 million to be distributed by Canadian Heritage.
  • $55 million to be distributed by the Canada Council for the Arts to help arts organizations that support artists.
  • $115.8 million to support the Canadian audiovisual sector, to be distributed by the Canada Media Fund ($88.8 million) and Telefilm Canada ($27 million).
  • The Government of Canada is acting quickly to make sure that this money is provided without delay to cultural and sport organizations.