The Federal Government has just announced additional measures to support Canadian businesses and individuals. Some highlights from today’s update from Prime Minister Trudeau include:
- increasing the wage subsidy from 10% to 75%.
- allowing businesses, including self-employed, to defer all GST and HST payments until June.
- launching the new Canada Emergency Business Account – offering $25 billion to eligible financial institutions so they can provide interest-free loans to small businesses.
- launching the new Small and Medium-sized Enterprise Loan and Guarantee program that will enable up to $40 billion in lending through EDC and BDC.
Read the full press release here