The federal government has extended their COVID-19 wage subsidy program for businesses into December of 2020 at the earliest. It was set to end in August.
The program covers 75 per cent of an employee’s wages, up to a maximum of $847, for workers at businesses who have been affected by the COVID-19 pandemic and current economic situation. Businesses must show a 30 per cent drop in revenues to apply.
Prime Minister Justin Trudeau announced the extension earlier this week, adding it will help to “give greater certainty and support to businesses, as we restart the economy.”
The federal government says the program has paid out over $18 billion to over 250,000 Canadian companies. The program has an overall budget of $82.3 billion.
Earlier this month, regional outfitters started a petition with more than 5,300 signatures on it. More than 200 resort owners estimate they generate more than $450 million from American visitors during the tourism season.
However, there are no plans to reopen the international border anytime soon, and a lost season will mean some owners would go about 20 months between revenue, if they have to wait until next summer.
For more information:
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