Extensions Announced to Wage Subsidy, Rent Subsidy, and Canada Recovery Benefit for Self-Employed
July 30, 2021
Three important support programs for businesses and the self-employed have been extended through to October 2021.
The Canada Emergency Wage Subsidy provides a subsidy for wages paid to employees for businesses facing revenues declines compared to pre-COVID levels. This benefit is a critical lifeline for many businesses and has been extended to October 23, 2021.
The Canada Emergency Rent Subsidy provides a subsidy to help cover the cost of commercial leases, rents, and mortgages for businesses facing revenues declines compared to pre-COVID levels. This benefit is also widely used and an important support, and has been extended through October 23, 2021.
The Canada Recovery Benefit provides payments every two weeks to provide income support to individuals who are out of work, or who have lost 50% of their income, due to COVID-19, and who are not eligible for traditional EI, including business owners, the self-employer and entrepreneurs.
“The government’s COVID supports have been critical underpinnings to our local business community. The wage and rent subsidies have been used by many Burnaby Board of Trade members to help keep their business afloat and keep staff employed. While we hope we are nearing the end of this acute phase of the COVID-19 pandemic, businesses are still facing negative impacts and extending these programs by another month will help more businesses make it through to our recovery” – Paul Holden, President & CEO, Burnaby Board of Trade