Counsel: COVID-19 Update Government of Canada actions on COVID-19: CANADA EMERGENCY WAGE SUBSIDY, EI and BENEFIT DETAILS

COVID-19 Update Government of Canada actions on COVID-19 April 1, 2020 Today the government provided a few more details about their support for business and workers in response to the economic slowdown caused by COVID-19. Here are the highlights: CANADA EMERGENCY WAGE SUBSIDY DETAILS As announced previously, the proposed Canada Emergency Wage Subsidy would give employers with a 30% or greater decline in revenue a 75% wage subsidy for the first $58,700 of salary, up to $847 per employee per week. The government news release for the program can be found here. The Canada Emergency Wage Subsidy will apply to all businesses large and small that have experienced a drop in revenue of 30% or more, as long as they are not publicly-funded. Non-profits and charities that see the same decline in revenue are also eligible. We believe that both privately owned and publicly traded companies will be eligible based on this description. Finance Minister Bill Morneau said the 30% decline in revenue threshold will be determined by comparing the current month’s revenues to the same month last year. Business owners will need to re-apply each month. The government is looking at options for new businesses that don’t have an established revenue history. Businesses will need to attest they are doing everything they can to pay the remaining 25% of employee income. The government knows this isn’t always possible and will be flexible. What is more important is people return to work. The government is asking employers to be prepared to rehire. Funds will be available in approximately 6 weeks. Businesses will be able to apply online through a CRA portal that will... read more

MHSTCI Action Plan from the Honourable Lisa MacLeod

Action Plan from Minister of Heritage, Sport, Tourism and Culture Industries Following a tele-townhall on March 26, the Honourable Lisa MacLeod, Minister of Heritage, Sport, Tourism and Culture Industries provided a 10-point action plan for her Ministry moving forward: I announced some changes we are making to respond to the challenges our industries and sectors are facing. 1.    I’ve re-purposed the Tourism Development Fund to the Tourism Development and Recovery Fund and increased the fund from $500,000 to $1.5 Million 2.    I’m working with industry partners on an online marketplace and town centre for all Ontarians to access concerts, art, digital gallery and museum tours and attraction pre-purchases. I’ve made an initial investment of $150,000 to match community contributions to give musicians a platform to perform concerts from the safety of their homes. 3.    Destination Ontario is actively working on a marketing program that will let the world know that when they are ready to travel and when we are a safe environment to accept them back, we will be ready. 4.    Our government will be allowing all licensed restaurants, bars and pubs to sell and deliver unopened alcohol at their establishments. 5.    We have provided lists of Hotels to MOH, MOLTC and MCCSS to be used in the event hospitals, LTC’s, VAW Centres need capacity due to social distancing. Yesterday’s economic statement earmarked $341 Million if this is required. 6.    For our film and TV industry we are revising regulations so we can allow contract and freelance workers to receive Ontario’s three refundable film and TV tax credits while at the same time... read more

New Annual General Meeting regulations (Ontario) and Nonprofit Annual Forms T2 – Canada Revenue Agency

This might be helpful for some libraries and their foundations, charity arms (like formal Friends Groups): “New Annual General Meeting regulations (Ontario) The Government of Ontario announced today support for business corporations, not-for-profit corporations, insurers, and share capital social clubs by implementing an Emergency Order to provide flexibility for corporate meetings. Cabinet approved an emergency order that would temporarily suspend certain legislative provisions and set out replacement provisions (related to the Corporations Act (CA) and Business Corporations Act (OBCA)]. This emergency order applies to not-for-profit corporations incorporated under the Ontario Corporations Act (CA) and gives them the ability to hold virtual meetings; as well as extends the timeframe for AGMs to be held. This Emergency Order will enable organizations to: Hold meetings of directors, shareholders and members electronically or over the phone even if legislation (like Ontario’s Corporations Act) or your bylaws say you can’t. The electronic or phone system has to allow people to communicate with each other simultaneously and instantaneously. So, for example, an email chain over a few days likely would not qualify as a meeting. Extend the timeframe by which corporations under the Corporations Act and Business Corporations Act must hold Annual General Meetings (AGMs). The deadlines for nonprofits to hold their AGMs are now extended to: 90 days after the state of emergency is ended by the Ontario government. If the government ends the state of emergency within 30 days before your current deadline, then you have until 120 days after the state of emergency ends. The Emergency Order is in effect province-wide and is retroactive to March 17, 2020, the day the Declaration of... read more