Federal Benefits Wind Down
For those of you that have been accessing federal funding for your dealership, take note, there are changes coming.
The CEWS as we know it has been changed. The end date for the CEWS program is now October 23rd.The rate for CEWS will decline for period 21 (November 1 will be the first day you can apply for this claim period).
On October 21st the Federal Government also announced proposals to the business support programs that would include the following changes:
Extend the Canada Recovery Hiring Program until May 7, 2022, for eligible employers with current revenue losses above 10 per cent and increase the subsidy rate to 50 per cent. The extension would help businesses continue to hire back workers and to create the additional jobs Canada needs for a full recovery.
Deliver targeted support to businesses that are still facing significant pandemic-related challenges. Support would be available through two streams, one for tourism and hospitality only and one for those businesses hardest hit, where significant losses must be demonstrated.
Businesses that face local lockdowns will be eligible for the programs regardless of losses over the course of the pandemic.
These programs will be available until May 7, 2022, with the proposed subsidy rates available through to March 13, 2022. From March 13, 2022, to May 7, 2022, the subsidy rates will decrease by half.
Also of note for operational planning is the change to the CRB program. Those employees currently on the CRB program, may no longer qualify for funding as of October 23rd. A new benefit aimed at those unable to work due to lockdown is being proposed and is set to cover the period from October 24th, 2021 to May 7th, 2022.
The Canada Recovery Caregiving Benefit and the Canada Recovery Sickness Benefit are proposed to continue until May 7, 2022.
To find out more about how we assist dealerships in managing through the changes in operations that have stemmed from COVID -19 and related Federal mandates and programs, email us at email@example.com.