The ongoing uncertainty from the COVID-19 pandemic continues to keep Canadians up at night. Many business owners breathed a sigh of relief this morning, March 27, 2020, when Prime Minister Trudeau announced a 75% wage subsidy for qualifying small and medium businesses affected by COVID-19.
This wage subsidy is a significant increase from the 10% wage subsidy promised earlier this week. It will be retroactive to March 15, 2020, and available for up to three months.
Prime Minister Trudeau stated that further details, which are expected to include eligibility criteria, are expected arrive this coming Monday. We will post of summary of further details here when they become available.
For a comprehensive list of the various federal government supports available to businesses and individuals, please see Canada’s COVID-19 Economic Response Plan.
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