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Canada’s Economic Response Plan for vending and micromarkets

The Government of Canada announced that relief funding will be made available for small businesses.


March 18, 2020
By CANADIAN VENDING


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The Government of Ontario announced that it is taking action by making an order declaring an emergency under the Emergency Management and Civil Protection Act.

“We are facing an unprecedented time in our history,” said Ontario’s Premier Ford in a public statement. “This is a decision that was not made lightly. COVID-19 constitutes a danger of major proportions. We are taking this extraordinary measure because we must offer our full support and every power possible to help our health care sector fight the spread of COVID-19. The health and wellbeing of every Ontarian must be our number one priority.”

As a result of this declaration and its associated orders, the following establishments are legally required to close immediately, and this will affect vendors and micromarkets.

  • All facilities providing indoor recreational programs;
  • All public libraries;
  • All private schools as defined in the Education Act;
  • All licensed child care centres;
  • All bars and restaurants, except to the extent that such facilities provide takeout food and delivery;

Further, all organized public events of over fifty people are also prohibited, including parades and events and communal services within places of worship. These orders were approved by the Lieutenant Governor in Council and will remain in place until March 31, 2020, at which point they will be reassessed and considered for extension, unless this order is terminated earlier.

“We are acting on the best advice of our Chief Medical Officer of Health and other leading public health officials across the province,” said Christine Elliott, Deputy Premier and Minister of Health in the same press release. “We know these measures will affect people’s every day lives, but they are necessary to ensure that we can slow the spread of COVID-19 and protect our people. We’re working with all partners across the system, from public health to hospitals and community care, to do everything we can to contain this virus and ensure that the system is prepared to respond to any scenario.”

Ontario is also investing up to $304 million to enhance the province’s response to COVID-19 by providing the following in funding for small businesses.

The Government of Canada is taking immediate action to support Canadian businesses facing financial hardship as a result of the COVID-19 pandemic.

On March 13, 2020, Minister of Finance Bill Morneau, Governor of the Bank of Canada Stephen Poloz, and Superintendent of Financial Institutions Jeremy Rudin outlined a coordinated package of measures to support the functioning of markets, the resilience of our financial sector, and continued access to financing for Canadian businesses. These actions will significantly increase the availability of credit to businesses of all sizes, sustain liquidity in key financial markets, and provide flexibility to businesses experiencing hardship.

On March 18, 2020 the government and its partners announced further measures to support businesses. These actions are part of Canada’s whole-of-government response to COVID-19, and the significant stimulus program developed to stabilize Canada’s economy, support businesses and to protect Canadians.

The Canada Revenue Agency will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March  and before September 2020.  This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.

The Canada Revenue Agency will not contact any small or medium (SME) businesses to initiate any post assessment GST/HST or Income Tax audits for the next four weeks. For the vast majority of businesses, the Canada Revenue Agency will temporarily suspend audit interaction with taxpayers and representatives.

The Liaison Officer service offers help to owners of small businesses to understand their tax obligations. Traditionally available in-person, this service is now available over the phone and will be customizing information during these challenging times by ensuring small businesses are aware of any changes such as filing and payment deadlines, proactive relief measures, etc.

For vendors and small business looking for relief, please click to visit the Canada’s COVID-19 Economic Response Plan.