Canada Recovery Hiring Program
The Government of Canada has announced that the new Canada Recovery Hiring Program, will be available retroactively to June 6, 2021.
The proposed Canada Recovery Hiring Program would help hard hit businesses hire the workers they need to recover and grow as local economies reopen:
- Provides a subsidy of up to 50 per cent of eligible salary or wages.
- Available to eligible employers who have experienced qualifying revenue declines so they can hire more workers, increase workers’ hours, or increase wages.
- Similar to the Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy, businesses can access the program through the Canada Revenue Agency (CRA). Support would be available retroactively to this Sunday, June 6, 2021, and businesses will be able to hire workers as their local economy reopens, or as they are ready.
Proposal to Extend Wage Subsidy, Rent Subsidy and Lockdown Support to September 25
The Deputy Prime Minister and the Minister of Small Business also detailed the proposed extension of business support programs that have served as a lifeline to Canadian businesses through the pandemic. This includes the proposed extension of the Wage Subsidy, Rent Subsidy, and Lockdown Support until September 25, 2021. These programs are currently set to expire this month. Both the Hiring Program and proposed extensions are part of Bill C-30, the Budget Implementation Act, which is currently before Parliament.
The Hiring Program is designed to interact with the Wage Subsidy. The programs overlap so that, as Wage Subsidy rates gradually decline, eligible employers would still be able to receive the maximum support from the Hiring Program this summer if they hire more workers or increase workers’ hours or wages. This will make it easy for businesses to quickly hire new workers and do so at a pace that works best for them, as different jurisdictions reopen their economies at different paces.
Business Credit Availability Program and Highly Affected Sectors Credit Program Extended to December 31
The Deputy Prime Minister and the Minister of Small Business announced that the Business Credit Availability Program and Highly Affected Sectors Credit Availability Program are being extended to December 31, 2021. Both programs were set to expire on June 30, 2021. This will ensure, with economies reopening and a path to recovery ahead, businesses will have the liquidity support they need to invest in their recovery.
Regional Relief and Recovery Fund (RRRF) Applications Extended to June 30
Regional Relief and Recovery Fund (RRRF) for small businesses in Northern Ontario that have sustained COVID-related losses since April 1, 2020, or if they anticipate losses up until September 30, 2021, has been extended to June 30, 2021.
Applications will be received and processed until the Fund has been fully committed.