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COVID - 19: Latest Steps by the Gov't of Canada 

We will provide updates  as we receive them.


**The Gov't of Canada will now cover up to 75% of Salaries.  A major increase over the previously announced 10% wage subsidy.  Prime Minister Trudeau announced the increased payroll subsidy from 10 percent to 75 percent to encourage small - and medium-sized businesses to keep their staff employed-and rehire those who have been already laid off.  The subsidy is back-dated to March 15.

**The Bank of Canada has made a second unscheduled cut to its benchmark interest rate, lowering it to 0.25 per cent amid the COVID-19 crisis.

**A new "Canada Emergency Business Account" will allow banks to give up to $40,000 in government-backed loans to businesses, with no interest for a year and the chance that $10,000 will be forgiven.  Details forthcoming.

**The government will also defer GST/HST sales tax and import duties for businesses until June, leaving $30 billion in the economy, Trudeau said.

**Canada's Crown lending agencies will get another $12.5 billion that businesses can borrow, on top of the $10 billion in credit already announced, Trudeau said.

**The government will also only collect taxes on the incoming Canada Emergency Response Benefit if and when recipients recover their incomes, Trudeau said. The benefits are set up to    provide $2,000 per month to people who stop getting paid because of the pandemic.

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