summary of many programs announced by the Federal Government, Alberta & Calgary

•  https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#extending_workshareprograms 
•  Extending the maximum duration of the Work-Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19. This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers. 
• To apply and more info visit:  https://www.canada.ca/en/employment-social-development/services/work-sharing/apply.html 

•  ​The Canada Emergency Business Account (CEBA) provides interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced. This program has been implemented by banks and credit unions in collaboration with Export Development Canada.
• Business owners can apply for support from CEBA through their banks and credit unions.
• This support is available until October 31.
• https://www.canada.ca/en/department-finance/economic-response-plan.html#business_credit_availability_program 
• Learn more here: https://ceba-cuec.ca/ 

• Canada Emergency Commercial Rent Assistance (CECRA) provides relief for small businesses experiencing financial hardship due to COVID-19.
• Over the course of the program, property owners will reduce rent by at least 75 % for the months of April and May (retroactive), and June, for their small business tenants. CECRA will cover 50 % of the rent, with the tenant paying up to 25 % and the property owner forgiving at least 25 %.
• Apply here: https://www.cmhc-schl.gc.ca/en/finance-and-investing/covid19-cecra-small-business

•  The Large Employer Emergency Financing Facility (LEEFF) provides bridge financing to Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing, in order to keep their operations going.
• The additional liquidity provided through LEEFF allows Canada’s largest businesses, their workers and their suppliers to remain active during this difficult time, and position them for a rapid economic recovery.
• This program is delivered by the Canada Development Investment Corporation, in cooperation with Innovation, Science and Economic Development Canada and the Department of Finance.
• Apply here: https://www.cdev.gc.ca/home-ceefc/

Launch of Insure Mortgage Purchase Program

• https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#insure_mortgage_purchase_program 
• Launched an Insured Mortgage Purchase Program, in which we will purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation.
• This action will provide long-term stable funding to banks and mortgage lenders, help facilitate continued lending to Canadian consumers and businesses, and add liquidity to Canada’s mortgage market.
• More information here:  https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#insure_mortgage_purchase_program 

Additional information for Alberta employees and employers

• https://www.alberta.ca/coronavirus-info-for-albertans.aspx#p22780s6 
•  https://www.canada.ca/en/department-finance/economic-response-plan.html?fbclid=IwAR3myj9ITUoRjdpAGSCHvawxOdPeiupvW-jCJpsJugav3Lq12hRwEM8ziz4#business 

EI- Record of employment

•  https://www.canada.ca/en/employment-social-development/corporate/notices/coronavirus.html 
• If your employees are directly affected by the coronavirus (COVID-19) and they are no longer working, you must issue a Record of Employment (ROE).
• When the employee is sick or quarantined, use code D (Illness or injury) as the reason for separation (block 16). Do not add comments.
• When the employee is no longer working due to a shortage of work because the business has closed or decreased operations due to coronavirus (COVID-19), use code A (Shortage of work). Do not add comments.
• When the employee refuses to come to work but is not sick or quarantined, use code E (Quit) or code N (Leave of absence), as appropriate. Avoid adding comments unless absolutely necessary.

Canada Summer Jobs Program: 

• Canada’s small businesses increasingly depend on the employment of young Canadians. The changes to the Canada Summer Jobs program will help small businesses hire and keep the workers they need so they can continue to deliver essential services.
• The temporary changes to the program for this year include:
  • an increase to the wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee
  • an extension to the end date for employment to February 28, 2021
  • allowing employers to adapt their projects and job activities to support essential services allowing employers to hire staff on a part-time basis
• More info:   https://www.canada.ca/en/employment-social-development/services/funding/canada-summer-jobs/temporary-flexibility.html 

Lowering the domestic stability buffer

• https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#lowering_the_domestic_stability_buffer 
•  The Office of the Superintendent of Financial Institutions announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets. This action will allow Canada’s large banks to inject $300 billion of additional lending in to the economy. 

Bank of Canada actions

• https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#bank_of_canada_actions 
• The Bank of Canada is acting in several ways to support the economy and financial system and stands ready to take any and all actions that it can to protect the well-being of Canadians during this difficult time. The Bank has responded by lowering interest rates, intervening to support key financial markets and providing liquidity support for financial institutions.
• Learn more