November 1, 2021
Canada's targeted COVID-19 support measures announced
The Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS) (including the lockdown support) expired on October 23 (end of period 21). In their place, the government announced new targeted COVID-19 support measures in addition to an extension of the Canada Recovery Hiring Program (CRHP). The introduction of the new targeted COVID-19 support measures represents a shift away from the broad-based assistance that was previously available to eligible entities affected by the pandemic, and toward an approach that focuses primarily on eligible entities that have been deeply affected since the outset of the pandemic and are continuing to face significant challenges. Although the CEWS and the CERS expired on October 23, eligible entities can continue to make an application for these subsidies until 180 days after the end of the applicable qualifying period.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert