As part of a new $82 billion spending package, the federal
government today announced that approximately $27 billion would be
directed to support for employers and employees affected by the
COVID-19 situation. Parliament could be recalled as early as next
week in order to enact legislation giving effect to these fiscal
measures. The full text of the initiatives can be accessed here.
Highlights of the initiatives include the following:
For Employers
- Temporary Wage
Subsidy: Corporations eligible for the small business
deduction, as well as non-profit organizations and charities that
are facing revenue losses or lay-offs, are to be provided with a
temporary wage subsidy equal to 10% of remuneration paid, up to a
maximum subsidy of $1,375 per employee and $25,000 per employer,
for a period of three months.
