By Alex McCuaig

COVID-19 BUSINESS RELIEF

Chamber here to help navigate COVID-19 relief programs

Apr 1, 2020 | 4:53 PM

MEDICINE HAT, AB – With a dizzying array of COVID-19 relief programs for businesses out there, it’s hard to keep track of just who is available for what and when.

“It’s been challenging to navigate because there are different benefits from different levels of government and trying to navigate which ones people are eligible for and what they can access, what’s available to them,” said Lisa Kowalchuk, executive director of the Medicine Hat & District Chamber of Commerce. “There are some businesses that aren’t even aware of some of the programs that are available.”

Wednesday’s announcement by the federal government of the Emergency Wage Subsidy shouldn’t be confused with the Temporary Wage Subsidy announced last week but Medicine Hat businesses should be aware of both, said Kowalchuk.

Kowalchuk says the emergency subsidy will see businesses that have lost 30 per cent of their revenue eligible for a payment of up to 75 per cent of each employee’s wages but it’s not a replacement to the temporary subsidy.

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“That’s something employers need to be aware of,” said Kowalchuk.

The temporary subsidy allows employers to hold back up to 10 per cent of payroll taxes up to $1,375 per employee between mid-March to mid-June to a maximum of $25,000.

She says some employers may want to look to the temporary subsidy, “if they haven’t had that revenue loss yet but come April they may be eligible for the Canada Emergency Wage Subsidy portion. It’s something to keep an eye on for employers in terms of the different programs available.”

There is also the work sharing program available from the federal government, Kowalchuk said, which is another program businesses may want to consider to avoid layoffs.

And the Chamber’s executive director added with estimates that only half of businesses are registered for direct deposit with the Canadian Revenue Agency, there is definitely a need to increase those numbers.

“By doing so now, that is something businesses can do now to make sure when they are applying for these programs, they’ll be able to get that money a lot quicker,” said Kowalchuk.

She added the Chamber of Commerce is regularly updating its website to reflect the new business programs being offered by the different levels of government.