Daily Update: July 2, 2020

Supports for Business

Government Announces Extension of Rent Relief Program for Small Businesses

Today, Finance Minister Bill Morneau announced that the Canada Emergency Commercial Rent Assistance (CECRA) will be extended by one month to cover eligible small business rents for July.

In addition, to simplify the application process for all applicants, the government is removing the requirement to claw-back insurance proceeds and provincial rent supports from the CECRA forgivable loan amount for both existing and new applicants. Existing applicants who are affected will be notified and will have any previously clawed-back amounts restored to their forgivable loan.

CUSMA takes effect July 1: Minister Fir

The Government of Alberta welcomes the Canada-United States-Mexico Agreement (CUSMA), which comes into effect July 1. Alberta relies on the free flow of trade and investment for job creation across all sectors of the economy. This agreement will serve as the foundation of our economic relationship with our North American partners – including our largest trading partner the United States – for years to come. This is an important milestone for Alberta, and for Canada.

Alberta’s Corporate Tax Rate Now 8%

The job creation tax cut has been implemented a year and a half earlier than scheduled. Alberta’s general corporate income tax rate is now at least 30 per cent lower than any other provincial rate. More information

Support for Canada’s Forest Sector Economic Recovery

The government today announced that the government is launching calls for proposals for the following programs:

The Investments in Forest Industry Transformation (IFIT) program to invest almost $83 million to bridge the gap between new product development and commercialization and ensure a more competitive and resilient forest sector, and
The Indigenous Forestry Initiative (IFI), to invest almost $13 million to support Indigenous participation in forestry-related opportunities, businesses, careers and governance.

These three-year investments will help advance Canada’s bioeconomy while creating and maintaining jobs in Indigenous and rural communities across the country. The application process is now open and organizations are encouraged to apply on Natural Resources Canada’s website.

Supports for Individuals

Government Introduces Draft Regulations Providing Relief for Registered Pension Plans

Finance Minister Bill Morneau today announced the release of draft regulations that would help employers who sponsor a Registered Pension Plan (RPP) or salary deferral leave plan for their employees to manage and maintain their benefit obligations through the crisis. It will also assure employees who participate in salary deferral leave plans that suspending their leave of absence (e.g., via a recall to essential-service work), or deferring their scheduled leave for up to one year, will not put their plan at risk.

The proposed draft regulations would support the effective administration of such plans through the COVID-19 pandemic, providing temporary relief from various registration rules and other conditions that must be complied with under the Income Tax Regulations

Community Supports and Resources

Albertans donate generously to COVID-19 campaigns

The province thanks Albertans for donating $5 million to charities participating in the charitable giving matching donation program.The Government of Alberta supported COVID-19 response efforts by offering to match donations up to $2 million to eight designated Alberta-based registered charities made between April 15 and May 31. Albertans’ donations, combined with government’s matching dollars, raised about $7 million for the designated COVID-19 fundraising campaigns. Donations will help feed the hungry, care for seniors, support at-risk children, and keep Albertans employed.

Advocacy

Highway 3 twinning creates jobs, improves highways

After years of advocacy, the government has finally announced the twinning of a 46-kilometre stretch of Highway 3 between Taber and Burdett.The twinning project will support about 755 jobs and will drive economic recovery and diversification in southern Alberta. Twinning Highway 3 will improve safety along this increasingly busy portion of the highway. Construction will begin in 2021 and the project will take about three years to complete. In addition to twinning, there will be key intersection improvements, in particular at Highway 877 at Grassy Lake. This stretch of Highway 3 sees about 3,900 vehicles per day.

Featured Webinars

CCC webinar: Welcome to the Get Ready Workplace IPAC Program (July 9)

Every hospital has an infection prevention and control (IPAC) program to protect their staff, patients and visitors from communicable diseases. Now due to the COVID-19 pandemic, every workplace needs an IPAC program. Get Ready has been developing pandemic programs for hospitals for over ten years. They provide a complete certified Workplace IPAC Program to ensure employers are compliant, employees are safe and customers feel confident to use your business services. Register here

EDC webinar: Get Digital: Upping Your E-Commerce Game (July 9)

As COVID-19 continues to change the way consumers and businesses shop, adopting a strong online presence, early and fast, is critical to your company’s success. But the best practices and tools you need to establish your e-commerce presence have also changed. That’s why you won’t want to miss Export Development Canada’s (EDC’s) free webinar on Thursday, July 9, Get Digital: Upping your e-commerce game. You’ll learn how to develop your e-commerce strategy and boost your digital brand to acquire new customers. Register here