Greetings!
Another update from us at the Chamber. Please share from our social media channels, as we want to make resources available to
ALL
, member or not.
We are
#StrongerTogether.
As you are likely aware, the Province has ordered non-essential businesses to close down.
Here is a note to local Chambers from the Vice President of Member Services at the Ontario Chamber of Commerce (OCC):
"Closure of Non-Essential Businesses:
A 1-800 number and website will be made available soon for inquiries. IMPORTANT: We are unable to seek clarification through other means at this time. We will send this along as soon as it becomes available.
On Monday, March 23, the Government of Ontario
announced
it is ordering the closure of all non-essential businesses in the province to help deal with the spread of COVID-19. See
here
for the list of business impacted and our
response
shared with government and media.
Businesses that can continue operations with employees working remotely, or through other contingency measures, are being given approximately 36 hours to prepare and adapt. We have called for an extension to this timing. Essential services may continue their operations to maintain supply chains and ensure the people of Ontario have access to necessities, including groceries, medicines and other essential products."
Here is a note from the OCC about Not-For-Profit eligibility, as well as clarification from the CRA:
"10% Payroll Tax Deduction (Federal) Eligibility for Not-for-Profits: To support businesses that are facing revenue losses and to help prevent lay-offs, the federal government is proposing to provide eligible small employers a temporary wage subsidy for a period of three months. The subsidy will be equal to 10% of remuneration paid during that period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer. Businesses will be able to benefit immediately from this support by reducing their remittances of income tax withheld on/ their employees’ remuneration. Employers benefiting from this measure will include corporations eligible for the small business deduction, as well as non-profit organizations and charities.
In addition to what was announced, regarding the
subsidy equal 10% of remuneration
, we received following clarification from CRA: This subsidy applies to not-for-profits which had an employer payroll account set up as of March 18, 2020, have eligible employees (employed in Canada), and they need to actually pay the employee salaries, wages or remuneration during the 3 month period starting March 18. Small businesses use a different test. We did not ask for specifics regarding small businesses, but it will be the same criteria CRA applies when determining if a business qualifies for small business tax deduction. There is no application and approval process. Companies and NFPs can start withholding the subsidy from the personal income tax remittances right away."
The Haliburton County Development Corporation announced today that they have finalized details of their COVID-19 Emergency Loan Program. The details on this program, along with contact information, can be found
here
.
The Business Development Bank of Canada has implemented a COVID-19 response that includes financial support and additional loans for entrepreneurs. You can find that information
here
, our local
BDC representative is Michael Gatschene
.
As we work to continue to promote all our membership, here are our member financial institutions that may have additional programs that can be leveraged at this time.
As I mentioned in last week's
e-blast
, please send me an email or call me on the Chamber cell phone 705-854-0593 to let us know of the impact this is having on your business.
We want to support you the best way we can at the Chamber
.
We will be striving to communicate the most pertinent updates to you in a timely manner, please stay in touch. Wishing you all the best at this time, look for more updates and resources in our e-blast tomorrow.
Jennifer M. Locke
Executive Director
Haliburton Highlands Chamber of Commerce
