From the March 18, 2020 announcement, the Government of Canada has committed to a number of resources for businesses:
Temporary wage subsidy for small employers
The subsidy will be equal to 10% of remuneration paid during this 3 months period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.
Tax payment flexibility
The Canada Revenue Agency will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020.
Access to credit
The Business Credit Availability Program (BCAP) will allow the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support, largely targeted to small and medium-sized businesses.
Export Development Canada – Canada Account
The Canada Account is administered by Export Development Canada (EDC) and is used by the government to support exporters when deemed to be in the national interest. This will allow the government to provide additional support to Canadian companies through loans, guarantees or insurance policies during these challenging times.