The Prime Minister provided further details on the announced Canada Emergency Wage Subsidy program (online portal will be up as soon as April 6)
If your revenues have decreased by 30% you will be eligible for this subsidy
The number of employees will not determine your eligibility
This subsidy applies to not-for-profit organizations and charities, as well as companies both big and/or small
The government will subsidize 75% of your salary on the first $58,700 earned, which will mean up to $847/week
As a reminder - this will be backdated to March 15, 2020
The Prime Minister also offered a word of caution to businesses that they are being trusted to do the right thing and if they have the means to pay the remaining 25% that is not covered by the subsidy, they are asked to do so. This is not a system to take advantage of or a game - there will be serious consequences for those who take advantage of this system
The Prime Minister reiterated that these are unprecedented times and, as such, require unprecedented actions and the government asks for good faith and trust
Over the last few weeks, the Canadian Armed Forces have been getting prepared to support during the COVID-19 outbreak. At the current time, there is no plan to use them in Provinces and Territories, but should they be required or requested, they are ready and prepared to support as needed
More information on Federal support for businesses can be found here. This page will also be updated with new details as they become available
(Subject to regulations set by the Canadian Government)
We will keep you informed of further major happenings as they become known. Staying informed, applying and monitoring continuous sanitary practices in both the workplace and at home are important steps to weathering this difficult period of time.
RTO7, with support from the Provincial Government and their agencies and our many partners across the region, are committed to providing you, the stakeholders, with as much support as we can.
Staying informed is a positive step to keeping our tourism industry strong. Please share these communications with your staff and peers. We encourage you to recommend to your fellow stakeholders to subscribe to RTO7’s newsletter to ensure they receive these updates. Visit RTO7.ca and click on “ARE YOU ON OUR MAILING LIST? SIGN-UP” or click on this link.
We will keep you informed as new and timely information becomes available.
