COVID-19 Business Update | March 27
WSG is committed to providing information and news on the business impacts of COVID-19 to the Niagara business community.
Vital updates you should know about:
- The Government of Canada has announced that eligible small- and medium-size enterprises (SMEs) will receive a 75% wage subsidy for up to three months. The wage subsidy FAQ has not yet been updated, but should be when further details are known. Industry Canada defines an SME as an enterprise with fewer than five hundred (500) employees.
- The Government of Canada has launched the Canada Emergency Business Account. Under this program, banks will offer up to $40,000 in government-guaranteed loans for businesses with payrolls of less than $1-million. These loans will be interest-free for one year. Around $10,000 of these loans will be forgiven for eligible businesses.
- The Government of Canada has deferred GST/HST taxes and duties on exports until June.
- The Government of Canada announced that the previous 10% wage subsidy would be increased to 75% for qualifying small- and medium-sized businesses. The subsidy will be back-dated to March 15th.
- The Alcohol and Gaming Commission of Ontario has announced that licensed restaurants and bars in Ontario may sell alcohol with food takeout and delivery orders between the hours of 9:00 am and 11:00 pm, effective immediately. No application process or fee is required.
- The holder of the liquor sales license is accountable for the responsible sale and delivery of alcohol. This includes making sure the person to whom the order is delivered is at least 19 and is not intoxicated.
- The licensee or its staff involved in the delivery of alcohol must have successfully completed Smart Serve training. In instances where the delivery is being carried out by a third party on behalf of the licensee, Smart Serve certification is required by April 25, 2020.
- The Town of Grimsby has passed a bylaw waiving the penalty and interest charges on current taxes from May 1 to June 30, including NSF charges on tax and water payments. Past-due interest on water bills and accounts receivable is waived from April 1 until June 30.
Information on government grants, resources, and programs, and how to apply for them, is available here.
WSG would like to thank the GNCC for this valuable summary.