Many Canadian registered charities will be receiving funds from the Federal government relating to the Canada Emergency Wage Subsidy (CEWS), Canada Emergency Rent Subsidy (CERS) and other programs.
Canada Emergency Wage Subsidy
On July 17, 2020, the government of Canada (the “Government”) released details, as well as draft legislative proposals to amend, inter alia, the Income Tax Act (Canada) (the “ITA”), in respect of a redesigned Canada Emergency Wage Subsidy (“CEWS”) program. The legislative proposals, in the form of Bill C-20, An Act respecting further COVID-19 measures (“Bill C-20”), received Royal Assent on July 27, 2020, and are now law.
On June 10, 2020, the federal government tabled Bill C-17, An Act respecting additional COVID-19 measures that, if enacted, would provide or further COVID-19 financial relief measures.