Supporting Canadians and Fighting COVID-19: Fall Economic Statement 2020
In response to the second wave of the COVID-19 pandemic, on November 30th the Canadian Government released the Supporting Canadians and Fighting COVID-19: Fall Economic Statement 2020, a plan to protect Canadian jobs, health, and the economy.
The Fall Economic Statement proposes new measures to support Canadian businesses and employees including:
- An increase in the maximum rate of the Canadian Emergency Wage Subsidy to 75 percent. This wage subsidy increase will apply December 20, 2020 and extend till March 13, 2021.
- An extension of the current rates of the Canada Emergency Rent Subsidy and Lockdown Support until March 13, 2021.
- The Highly Affected Sectors Credit Availability Program to support Canada’s hardest-hit industries including tourism, art and culture, and the air sector.
- The availability to claim up to $400 of eligible work from home expenses, through a simplified expense claiming process. Further details about the process will be communicated by the CRA in the coming weeks.