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COVID - 19 UPDATE

MEDIA RELEASE  March 30, 2020

MEDIA RELEASE  March 13, 2020                       

 Statement by Mayor Pellegrini on COVID-19  March 17, 2020 

 UPDATE

MEDIA RELEASE - Tuesday March 31 2020



EMERGENCY STANDSTILL AGREEMENT


Early last week we proposed a novel, massive and coordinated government response to business continuity during the COVID-19 pandemic (the Emergency Standstill Agreement). Last Friday the Federal government announced business relief measures that largely mirrored our proposed approach.

Prompting our proposal was the unfolding tragedy of watching Ontario’s businesses, and in particular small businesses, being quickly starved to death during this public health crisis of unprecedented scope and proportion.

Prior to last Friday the business and employee relief measures announced to date at all levels of government appeared to be creating a fragmented patchwork quilt of programs that were providing little meaningful business continuity support. In the last few days though, we have witnessed a much more coordinated response at all levels of government: federal, provincial and municipal.

Employers of all sizes have well established payroll systems or providers in place who are better positioned to get funds to employees affected by COVID-19 rapidly (either due to required leave or a layoff situation). As a result, we applaud the decision of the federal government to provide income support payments/subsidies directly to employers v. burdening an already over-burdened (and inefficient) public sector bureaucracy to process EI applications.

Recently, the Canadian Olympic Committee took a radical stand, refusing to participate in this year’s Games if they were to go ahead as scheduled. This has led to dramatic action on the part of the IOC in response.

Our statement issued las week was our call to action. It was a call to have our governments at all levels better coordinate their relief efforts and start thinking outside of the box to put together a coherent and sustainable plan for business continuity in response to the economic chaos being wrought on businesses as a result of the critically important public health response to the COVID-19 pandemic.

Although we take no credit for the shift in policy and level of coordination we have witnessed this past week, we do wish to applaud all three levels of government for their renewed leadership and crisis response.

Thank-you! Let’s stand together and get through this together!

Angelo Santorelli

President of the King Chamber of Commerce

EMERGENCY STANDSTILL AGREEMENT - mar23 .pdf

King Township Response   MEDIA Release  March 30, 2020

President's Message

Thursday March 19, 2020  

List of essential workplaces

Read the list of essential workplaces in response to COVID-19. If you have questions about what will be open or impacts to your business or employment, call the Stop the Spread Business Information Line at 1-888-444-3659

Temporary Business Wage Subsidy

Eligible small employers - 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.

HOW TO APPLY: Bill.Morneau@canada.caDepartment of Finance    General enquiries: Phone: 1-800-959-5525                                           *Special phone line to be provided – will update once published 

  Canada Emergency Response Benefit Portal Opens April 6

 Frequently Asked Questions – Temporary Wage Subsidy for Employers

News release 

April 1, 2020 - Ottawa, Ontario - Department of Finance Canada


Employment Support Measures for Business

Emergency Support Benefit & Emergency Care Benefit

Up to $900 biweekly, up to 15 weeks, to provide income support to workers, including the self-employed, who have to stay home and don't qualify for paid sick leave or employment insurance.

HOW TO APPLY: This will become available in April, and applications will be via CRA Have an EI claim in process but have since been diagnosed with COVID 19?    Please call 1-833-381-2725


Tax Deferment

Deferred until August 31, 2020, the payment tax amounts that become owing on or after March 18 and before September 2020. No interest or penalties will accumulate on these amounts during this period. 

HOW TO APPLY:  No application needed

To help support Ontario businesses when they need it most, the government is providing a five-month interest and penalty-free period for businesses to make payments for the majority of provincially administered taxes.

Beginning April 1, 2020, the Province is providing flexibility to about 100,000 businesses in Ontario to help manage their cash flows during this challenging time. This will continue for a period of five months, up until August 31, 2020, and is expected to make available $6 billion to improve the cash flows of Ontario businesses.

For this period, the Province will not apply any penalty or interest on any late-filed returns or incomplete or late tax payments under select provincially administered taxes, such as the Employer Health Tax, Tobacco Tax and Gas Tax.

The initiative and relief period complement the relief from interest and penalties from not remitting Corporate Income Tax owing that was announced by the federal government on March 18, 2020.

Business Credit Availability Program (BCAP)

Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support largely targeted to small and medium-sized businesses (as defined by 499 employees or less).

Released as of March 18, new relief measures for qualified businesses include:

Working capital loans of up to $2 million with flexible terms and payment postponements for up to 6 months for qualifying businesses

Postponement of payments for up to six months, free of charge, for existing BDC clients with total BDC loan commitment of $1 million or less

Reduced rates on new eligible loans.

HOW TO APPLY:    BDC Website        EDC Website

EDCMarch 27 News Release

Mortgage Payment Deferrals

The six largest banking institutions in Canada have made a commitment to work with personal and business banking customers on a case-by-case basis to provide flexible solutions to help them manage through various challenges.

This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.

HOW TO APPLY: 

This will be done on a first come, first serve basis and requires a direct call to your bank. Here are the helplines for each institution:

BMO: 1- 877-788-1923

BMO online support
RBC: 1-800-769-2511 How RBC is helping clients
CIBC: 1-877-454-9030

CIBC financial assistance form

Scotiabank: 1-833-315-4357 Latest Updates
TD: 1-888-730-0075 We're ready to help you
National Bank of  Canada:   1‑844‑394‑4494 Stay informed update Apr 01,2020

Business Credit Availability Program (BCAP)

Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support largely targeted to small and medium-sized businesses (as defined by 499 employees or less).

Released as of March 18, new relief measures for qualified businesses include:

  • Working capital loans of up to $2 million with flexible terms and payment postponements for up to 6 months for qualifying businesses;
  • Postponement of payments for up to six months, free of charge, for existing BDC clients with total BDC loan commitment of $1 million or less; and
  • Reduced rates on new eligible loans.

HOW TO APPLY:  BDC Website   EDC Website

Purchase Order Financing

Cover up to 90% of the purchase order amount to ease cash flow to your suppliers.

  • Work-Sharing Program​ | Temporary special measures for the downturn in business due to COVID-19 and for the forestry and steel and aluminum sector

HOW TO APPLY:  BDC Website

Work Sharing Program: Forestry, Steel, Aluminum Sectors

Temporary special measures for the downturn in business due to COVID-19 and for the forestry and steel and aluminum sector 

HOW TO APPLY:  Please apply at least 30 days before you want the temporary special measures to begin.   Canada.ca   

Due to the evolving situation with the COVID-19 pandemic, and our desire to keep our communities safe, the King Chamber of Commerce (KCC) staff will be implementing social distancing measures through a combination of actions.

At this time, we will be postponing the following Chamber events:

·     Mayors Luncheon

·     Business Continuity & Emergency Preparedness for Businesses - Workshop

Although we’re temporarily modifying our approach, we continue actively working to serve our membership. You can reach us by calling our business line at 905-717-7199 or connecting via email at info@kingchamber.ca.

Documents &

Phone Numbers

Members with the Chambers Plan Employment Benefits

Stop the Spread Business Information

if your business needs immediate assistance contact Jamie Smyth           905-833-4016 ecdev@king.ca

Stop the Spread Business Information Line Now Open at 1-888-444-3659

Telehealth  -  1-866-797-0000

If you have any helpful hints - please share

King Chamber of Commerce - Box 381 Schomberg, L0G 1T0                        Administrator- Helen Neville         905-717-7199            info@kingchamber.ca               

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