KMSS continues to monitor the support being announced by our Federal and Provincial governments to address the difficulties facing Alberta small businesses as a result of the COVID-19 outbreak. These programs are rapidly evolving.
We note that the Federal government made an announcement this morning that the Temporary Wage Subsidy would be enhanced to 75% but the details were not provided and are to be released soon. We are actively watching for further information and will update our summary once these details have been released.
We have summarized the COVID-19 assistance available for Alberta small businesses which include:
- Temporary Wage Subsidy
- Tax filing and payment deadline deferral
- Property tax and utilities deferral
- WCB premium deferral
- Financial institution assistance
- Assistance for your employees
Please refer to this link for more details.
Your KMSS advisory team is here to assist you and your business through this evolving pandemic.