Honouring John Heinrichs

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With all the changes in the COVID subsidy programs, a lot of confusion has been created around which programs businesses might qualify for and what the new rules are. This summary should help shed a little light on the most recent updates and what it takes to qualify.

Subsidies Available Starting Period 22:

The following are the most recent and updated details regarding the wage & rent subsidies and their respective deadlines.

Canada Recovery Hiring Program (CRHP)

  • A wage subsidy.
  • This has been available since period 17 but has since been extended.
  • Continues to require a 10% revenue decline in each period and compares incremental wages in the period to a base period.
  • The base period remains to be March 14, 2021, to April 10, 2021.
  • The subsidy takes a percentage of the incremental wages.
  • The weekly wages are subject to a max of $1,129 per week per employee.
  • Increases in one employees’ wage get offset by decreases to other employees’ wages, therefore, wages overall must increase compared to the base period.

Tourism & Hospitality Recovery Program (THRP)

  • Wage and rent subsidy.
  • There are two ways to qualify:
    1. More than 50% of eligible revenues come from one or more of the tourism, hospitality, arts, entertainment, or recreation activities, and have a 12-month average revenue drop from March 2020 to February 2021 of at least 40%, and have a current claim period revenue drop of at least 40%, or
    2. Local Lockdown Program (LLP) – You do not need to be in the tourism and hospitality sector, and you do not need the 12-month average revenue drop. You do need to be affected by a qualifying public health restriction and have a claim period revenue drop of at least 40%
      1. For a list of activities that qualify, see this link on CRA Tourism, hospitality, arts, entertainment, and recreation activities that qualify for the THRP.
      2. For a qualifying public health restriction, the activities that were stopped due to the public health restriction accounted for at least 25% of total eligible revenue.
      3. For periods 24 and 25, the government is proposing to temporarily expand the LLP so that a business can qualify if a public health order has reduced an entity’s capacity by 50% or more and the restricted activities account for at least 50% of the entity’s total qualifying revenues.
      4. They also intend to lower the current month’s revenue loss threshold from 40% to 25%.

Hardest Hit Business Recovery Program (HHBRP)

  • A wage and rent subsidy.
  • An organization can qualify regardless of sector.
  • You must have a 12-month average revenue drop from March 2020 to February 2021 of at least 50%, and have a current claim period revenue drop of at least 50%.

Period & Subsidy Deadlines

Period # Revenue  Subsidy periodDeadline
CEWSCERSCRHPTHRP/HHBRPCurrent month ref. Prior month ref. Period startPeriod end 
1March 2020March 2019March 15, 2020April 11, 2020January 31, 2021
2April 2020April 2019April 12, 2020May 9, 2020January 31, 2021
3May 2020May 2019May 10, 2020June 6, 2020January 31, 2021
4June 2020June 2019June 7, 2020July 4, 2020January 31, 2021
5July 2020July 2019July 5, 2020August 1, 2020January 31, 2021
6August 2020August 2019August 2, 2020August 29, 2020February 25, 2021
7September 2020September 2019August 30, 2020September 26, 2020March 25, 2021
81October 2020October 2019September 27, 2020October 24, 2020April 22, 2021
92November 2020November 2019October 25, 2020November 21, 2020May 20, 2021
103December 2020December 2019November 22, 2020December 19, 2020June 17, 2021
114December 2020December 2019December 20, 2020January 16, 2021July 15, 2021
125January 2021January 2020January 17, 2021February 13, 2021August 12, 2021
136February 2021February 2020February 14, 2021March 13, 2021September 9, 2021
147March 2021March 2019March 14, 2021April 10, 2021October 7, 2021
158April 2021April 2019April 11, 2021May 8, 2021November 4, 2021
169May 2021May 2019May 9, 2021June 5, 2021December 2, 2021
171017June 2021June 2019June 6, 2021July 3, 2021December 30, 2021
181118July 2021July 2019July 4, 2021July 31, 2021January 27, 2022
191219August 2021August 2019August 1, 2021August 28, 2021February 24, 2022
201320September 2021September 2019August 29, 2021September 25, 2021March 24, 2022
211421October 2021October 2019September 26, 2021October 23, 2021April 21, 2022
2222November 2021November 2019October 24, 2021November 20, 2021May 19, 2022
2323December 2021December 2019November 21, 2021December 18, 2021June 16, 2022
2424January 2022January 2020December 19, 2021January 15, 2022July 14, 2022
2525February 2022February 2020January 16, 2021February 12, 2022August 11, 2022
2626March 2022March 2019February 13, 2022March 12, 2022September 8, 2022
2727April 2022April 2019March 13, 2022April 9, 2022October 6, 2022
2828May 2022May 2019April 10, 2022May 7, 2022November 3, 2022

 

Prepared by: Julia Komaniecki, CPA

Meet Julia, one of our managers! Julia graduated from the University of Alberta in 2016 with a Bachelor of Commerce and a major in Accounting. In 2019 she completed the CPA program and received her designation. Julia has experience with oil & gas companies, not-for-profits and other private companies. Julia enjoys helping clients with any concerns they have and finding any efficiencies that they can use in their business practices. When Julia is not doing accounting, she enjoys immersing herself in activities such as reading, cooking and various exercise classes.