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To our valued clients in an unpredictable time,

Further to our email sent on April 9, 2020, Prime Minister Justin Trudeau today announced new measures to support Canadian businesses so they can keep their doors open and their employees on the job.

The Government of Canada is:
  1. Expanding the Canada Emergency Business Account (CEBA) to businesses that paid between $20,000 and $1.5 million in total payroll in 2019. This new range will replace the previous one of between $50,000 and $1 million, and will help address the challenges faced by small businesses to cover non-deferrable operating costs.
  2. Announcing its intent to introduce the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. The program will seek to provide loans, including forgivable loans, to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June. Implementation of the program will require a partnership between the federal government and provincial and territorial governments, which are responsible for property owner-tenant relationships. The federal government is working with the provinces and territories to increase rent support for businesses that are most impacted by the pandemic and they will have more details to share soon.
We will endeavour to keep you up to date on any further announcements as the situation progresses.  Please let us know if our firm can be of any assistance to you and your business at this time.
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