FEDERAL GOV'T ANNOUNCES NEW RENT RELIEF FOR SOME BUSINESSES HARD HIT BY COVID-19
Oct 09, 2020
By Bob Komsic
In an effort to directly help those businesses having trouble paying rent, the federal government’s announced a new emergency subsidy.
The previous one was paid to landlords.
This one will cover up to 65% of eligible rent costs for businesses that have lost revenue and up to 90% for ones which have to close entirely because of the second wave.
The government will also cover up to 65% of eligible wages through its subsidy program but only until the end of December, and expand a loan program by providing an additional $10,000 that could be forgivable.
Even though many businesses have reopened, Prime Minister Justin Trudeau says a number of them are not at full capacity, while others are worried about surviving a second wave.
The economy added 378,000 jobs in September, which Statistics Canada reports brings employment to within 720,000 of pre-COVID levels.