This program aims to relieve SMBs experiencing financial difficulties due to the present COVID-19 crisis through loans of up to $50,000. New Brunswick reported one new case of COVID-19 on Saturday.The new case is an individual in their 20s in the Saint John region (Zone 2). Canada Economic Development for Québec Regions (CEDQR): Starting April 1, CEDQR will defer payments due to CEDQR by its clients for a duration of three (3) months. Should the amounts of the subsidy for an eligible employer for the period exceed the amounts of source deduction due for the period, the eligible employer will be allowed to reduce payment of source deductions beyond the end of the period, after June 19, 2020. Whether employed or self-employed, they have ceased working for reasons related to COVID-19 for at least 14 consecutive days within the four-week period in respect of which they are applying for the payment; and. Taxpayers who wish to file an appeal of the Minister’s decision regarding the Canada Pension Plan or Employment Insurance may do so by filing a request through My Account. A partnership between the Government of Canada and the provincial governments will be necessary to administer this program, as regulation of owner-tenant relationships is a private law matter. For more information, click here. This measure will allow for the advance payment of more than $600 million to businesses. Lavery’s team is available to answer any question you may have regarding the announced emergency measures as well as any related aspects. Financial assistance (COVID-19) ... Québec government enhancement of the Canada Emergency Commercial Rent Assistance program. Our vision and values guide us as we carry out our role. Grants and subsidies can range from a simple contribution to larger sums for major projects funded by a government, municipality or other organization. The 10% Temporary Wage Subsidy for Employers (TWS) is a 3-month measure that allows eligible employers to reduce the amount of payroll deductions they need to remit to the Canada Revenue Agency (CRA). The Government of Canada announced, on March 30, that it will grant a temporary wage subsidy, the Canada Emergency Wage Subsidy (the “CEWS”), to eligible employers, no matter their size and number of employees. All other appeals will pick back up when all services are back to normal. This is a mandatory deadline that cannot be amended. Autorité des Marchés Financiers (AMF): The AMF is granting an additional 45 days for the continuous disclosure filings of reporting issuers that were to be filed before June 1, 2020. They are in business in Québec since at least one year; They are temporarily closed, on the brink of closing or showing warning signs of imminent closure; They are in a context of maintaining, consolidating or reviving their activities; They are able to demonstrate a direct link between their financial difficulties and the present COVID-19 crisis. On March 18 and March 27, 2020, the Minister of Finance of Canada announced the extension of filing deadlines for certain income tax returns and of payment deadlines for certain amounts owing for individuals, trusts and corporations for federal income tax purposes. The Government of Québec and Revenu Québec have put in place several administrative measures aiming to supplement businesses’ cash flow. Amounts deducted from source deductions by virtue of this measure will diminish any amount due to an employer by virtue of the CEWS, thus eliminating duplication of benefits. Government of Québec. Businesses operating in all sectors, including social economy enterprises, cooperatives, and nonprofit organizations conducting commercial activities are eligible under the following conditions: Businesses under the protection of the Companies’ Creditors Arrangement Act (R.S.C., 1985, c. C-36) or of the Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-3) are excluded from this program. This measure does not alleviate employers’ obligations to remit income tax deduction (beyond the subsidy amount computed using the method described above), to contribute to the Canadian Pensions Plan and to pay Employment-Insurance premiums. Businesses that are not clients of Investissement Québec and that wish to benefit from such a loan guarantee must first contact their financial institution, which will itself contact an Investissement Québec account manager. Some $446 million has been earmarked for accommodations and tourist attractions. 13. Many other measures will be put in place, including an increase in the Canada Child Benefit, an increase in the maximum GST credit, the reduction of the minimum withdrawal amount of RRIFs, an extension for reimbursement of student loans (both in Québec and in Canada) as well as several specific credits. 2, which implements the Emergency Wage Subsidy Program. To help businesses whose cash flow is affected by the impact of COVID-19, the government has implemented the Emergency Support Plan for Small and Medium-Sized Businesses and the Concerted Temporary Action Program for Businesses (PACTE).. CERB claims are available since April 6, 2020. The Bank of Canada has announced that it is expanding the scope of its Government of Canada bond buyback program to add liquidity to the market. The amount of this subsidy that will be deducted from an eligible employer’s source deduction will be included in the employer’s taxable income for the year. 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