CHANGES TO SUPPORTS FOR
SMALL BUSINESSES
Canada Emergency Response Benefit (CERB)
This week the Prime Minister and Minister of Finance announced the Canada Emergency Response Benefit (CERB). This will provide $2,000 a month for up to 4 months to Canadians who are not receiving a paycheque due to COVID-19. To make it simpler for people applying , they’ve combined the two measures previously announced (the Emergency Care Benefit and the Emergency Support Benefit) – the CERB means Canadian workers, entrepreneurs small business owners will get the financial support they need ten days after applying for this benefit. The Application Portal will be launched in early April. This benefit applies to employees, entrepreneurs, small business owners – and you will qualify for it if you have lost your job, or you’re not being paid because you have to stay home to self-isolate, to watch your kids because of school closures, or to care for someone who is sick.
Off-Peak Time-Of-Use (TOU) electricity rate for small businesses, and farm customers
For a 45-day period, the government is working to suspend time-of-use electricity rates, holding electricity prices to the off-peak rate of 10.1 cents-per-kilowatt-hour. This reduced price will be available 24 hours per day, seven days a week to all time-of-use customers. Customers will see rate reductions of over 50 per cent compared to on-peak rates.This discount will be applied automatically to electricity bills without the need for customers to fill out an application form.
Workplace Safety and Insurance Board (WSIB)
The Ontario Government is enabling $1.9 billion in relief for employers covered by the WSIB's workplace insurance. Employers are automatically eligible for the provisions of the relief package and can defer premium reporting and payments until August 31, 2020. They will not be required to opt in to receive this benefit. The WSIB will also cease interest accrual on all outstanding premium payments, and will not charge penalties during this six-month deferral period. The WSIB will continue to fully cover workers at eligible workplaces.