COVID-19: Economic Relief Measures Announced to Date

  • For more information, see the Government of Canada’s news release of June 5, 2020.[10]

  • CRA Confirms that a DSLP Leave Period Can be Interrupted

    • Two of the conditions for a qualifying deferred salary leave plan are (i) that the deferral period cannot exceed six years with the leave period beginning immediately afterwards and (ii) that the leave period must be one continuous period of at least six consecutive months (or three months for certain educational leaves). CRA recently issued two technical interpretations confirming that, pending a Finance review of the impact of the COVID-19 pandemic on such plans, CRA will permit the leave period to be deferred.
    • CRA has now issued a further two technical interpretations confirming that it is also permissible, pending the completion of the Finance review, for the leave period to be interrupted for COVID-19 reasons (e.g., because of being called back to work as an essential health care worker or because of the need to get back to Canada before all flights were cancelled, but with a view to the leave period subsequently being resumed when advisable).

    Rent Relief in National Parks

    • On June 1, 2020, Parks Canada announced that the Government of Canada will provide rent relief for eligible business tenants in all national parks, national historic sites and national marine conservation areas.
    • These relief measures were designed to emulate the CECRA program.
    • For more information, see the Government of Canada’s news release of June 1, 2020.[11]

    Financial planning advice hotline

    • On May 25, 2020, the Minister of Small Business, Export Promotion and International Trade announced that the Government of Canada will support the launch of a four-week hotline service called the Business Resilience Service. This service will help entrepreneurs and small business owners in need of financial planning advice, particularly those who may not have access to an accountant. The service will also be open to not-for-profit organizations and charities.
    • For more information, see the government of Canada’s news release[12] of May 25, 2020.

    Canada Emergency Commercial Rent Assistance program

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