COVID-19 Update | Monday, March 30 (Canada)
March 30, 2020
- TIAC continues to work with government officials in the Ministers of Finance and Economic Development offices to ensure that tourism businesses are covered by the 75% wage subsidy announced on Friday (with more detail today from the Prime Minister), as well as other measures addressing credit through the CERB and other credit facilities. We understand that more information is forthcoming in announcements tomorrow and we continue to advocate for tourism businesses to access these programs and funds.
- More details on the 75% wage subsidy can be found below in “government announcements”
- After a consistent lobby effort led by TIAC, we can now confirm that the June 30th date on the Public Health Agency of Canada website in reference to border closures has been removed. TIAC will continue to monitor inbound travel restrictions, and inform industry of any changes that may impact future business
- We also thank all members who sent letters to their respective MPs for support through our joint letter-writing campaign over the weekend. Our combined efforts have resulted in thousands of letters sent to Members of Parliament across Canada asking for their support during this difficult time.
- TIAC’s President will join Minister Joly on April 1st, 2020 on the second COVID-19 webinar organized by Destination Canada, to join:
- TIAC is supporting Meetings Means Business Canada, as they promote Global Meetings Industry Day (GMID) going virtual this year. The event is an international forum for advocacy, awareness and celebration for the meetings & events industry, with details below:
- Time: Starting at 9am PDT/12pm EDT/1pm ADT
- Registration link: https://gmidgoesvirtual.com/
- We understand that rent relief is important for tourism businesses during this time. Following discussions with TIAC and industry stakeholders, Parks Canada has announced that it will work with tourism operators in national parks, historic sites, and marine conservation areas to defer payments on commercial leases and licenses of occupation without interest until September 2020.
- Further details can be found here.
- Today, the Prime Minister announced details regarding what businesses will qualify for the Canada Emergency Wage Subsidy (CEWS).
- The Prime Minister announced that qualifying businesses will be required to show a decline of 30% in revenue due to COVID-19 and there will be no limits on employee numbers. Also, not-for-profit and charity organizations will be eligible. TIAC continues to ask for clarity on eligibility and mechanisms that will be put into place to operationalize this program
- The CEWS will cover 75% of wages up to the first $58,700 of income, totalling $847/week. This subsidy will be backdated to March 15.
- The Prime Minister warned businesses that there will be serious consequences for those who attempt to cheat the system, and that businesses will be expected to top up the remaining 25% and re-hire staff wherever possible.
- TIAC will have further details to share tomorrow, after the Minister of Finances announces further details.
- These measures are in addition to Friday’s announcements concerning GST/HST deferrals, increased liquidity access through BDC and EDC, and the Canada Emergency Business Account.