As of Saturday, October 23, 2021, a suite of federal benefits formerly slated for both individuals and small businesses was set to expire following several extension periods. In partial response, the federal government has earmarked $7.4 billion for new programs intended to maintain some level of support for businesses and individuals throughout the Covid-19 pandemic.
What Is Set To Expire?
On October 23, 2021, the Canada Emergency Rent Subsidy (CERS) and the Canada Emergency Wage Subsidy (CEWS) both expired after their initial implementation in 2020. The Budget Implementation Act would allow the government to extend these programs to November 30, 2021, however, anything beyond this time frame would require the introduction of new legislation. Under the CERS, businesses have a monthly cap of $75,000 on eligible expenses that can be claimed per business location, and $300,000 in total for all locations. In our discussion below, there is potential for an increase in this monthly cap.
Continue Reading Recent Changes to the Federal Government’s Covid-19 Benefits Schemes