New Targeted COVID-19 Support Programs
NOVEMBER 26, 2021
On November 24, 2021, the Federal Government introduced legislation relating to recently announced targeted COVID-19 programs to support businesses. The legislation contains detailed rules regarding the following programs:
- Tourism and Hospitality Recovery Program
- Hardest Hit Business Recovery Program
With the new Tourism and Hospitality Recovery Program, the government of Canada is providing new support to businesses through wage and rent subsidies up to 75% of costs.
Most tourism and hospitality businesses are eligible for the grant. To be eligible for the program, 50% of pre-pandemic revenues must have been from businesses related to:
- Hotels, motels, or bed and breakfasts
- Restaurants, food trucks, cafeterias, caterers, or coffee shops
- Travel agencies, tour operators, or agents for tour operators
- Organizations related to live performances or exhibits for public viewing
- Charter bus services
- Amusement and theme parks
- Facilities providing services for recreation activities (excluding golf, country clubs and professional sports clubs)
- Campgrounds and overnight recreation camps
- Cinemas and drive-in theatres
- Venues for conventions, trade shows, weddings, or similar events
To qualify, organizations would also need to meet the following criteria:
- Average monthly revenue must have decreased by at least 40% over the first 13 qualifying periods of the Canada Emergency Wage Subsidy
- Current-month revenue loss of at least 40%, calculated in the same fashion as previous wage and rent subsidy programs
If your type of business is not listed, it may still be eligible for the Hardest Hit Business Recovery Program.
For more information on whether your business qualifies, visit https://www.canada.ca/en/department-finance/news/2021/11/types-of-business-eligible-for-the-tourism-and-hospitality-recovery-program.html or call Fort Group today at (204) 942-0861. We are open 9 a.m. – 5 p.m. and always willing to help!