Supporting Canadians and Fighting COVID-19: Fall Economic Statement 2020
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.
If you have any questions or require more information, the MaxPeople team is available on an hourly basis to advise and support you. Learn more by clicking here.