Good Morning All,
I hope everyone had a great holiday weekend. Some good news to start this week - the Federal government announced that they are extending the Canada Emergency Wage Subsidy, Canada Emergency Rent Subsidy and Lockdown Support. Below is a quick overview and the link to the announcement - please take a few minutes to review all of the details.
Extending the Canada Emergency Wage Subsidy, Canada Emergency Rent Subsidy and Lockdown Support
The wage subsidy, rent subsidy and Lockdown Support were set to expire in June 2021. Budget 2021 extended these measures until September 25, 2021 and provided the government with the authority to further extend the programs through regulations should the economic and public health situation warrant it.
The government is proposing to use this authority to further extend these measures until October 23, 2021, and increase the wage and rent subsidy rates between August 29 and September 25, 2021.
Specifically, the maximum rate for the wage and rent subsidies would be set at 40 per cent in Period 20 (August 29 to September 25) instead of being reduced to 20 per cent, as announced in Budget 2021. These programs would also be extended by one additional period, with a maximum rate of 20 per cent in Period 21 (September 26 to October 23). The Lockdown Support would also be extended until October 23, 2021, at its set rate of 25 per cent.