Financial Assistance for Business

10% WAGE SUBSIDY

Up to $25,000 per employer, up to maximum subsidy of $1,375 per employee
Who can apply: Will include corporations eligible for the small business deduction, as well as non-profit organizations and charities.

BUSINESS CREDIT AVAILABILITY PROGRAM (BCAP) - AVAILABLE IMMEDIATELY

Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support
Who can apply: Support is targeted to small and medium-sized businesses

INCOME TAX PAYMENT DEFERRAL - AVAILABLE IMMEDIATELY

The Canada Revenue Agency will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020.  This relief would apply to tax balances due, as well as installments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.