To the membership of the RAIC,
On March 18, 2020, Prime Minister Trudeau announced what would look like. Up to $82 billion to help mitigate the impact of COVID-19 on individuals and businesses in Canada. This amounts to $27 billion in direct support for businesses and individuals—and an additional $55 billion in tax deferrals for Canadian households and businesses. The message also provided cues that more initiatives will follow. RAIC continues to take the immediate concerns of the architecture sector forward to the government, including the Minister of Finance and the Deputy Prime Minister. We will continue to make the case to the government that RAIC members and the entire architecture sector require access to funding. Many members are reaching out to the RAIC to assist during this difficult and unprecedented crisis. The RAIC is committed to offering national leadership and enable and leverage our collective voice. We encourage members, firms, and businesses to use the government letter template, previously provided, to apply further pressure on decision-makers. The following is a list of some support programs mentioned in the Prime Minister’s address. Some of these initiatives may help alleviate the pressure members, firms, and businesses might experience from an employee support and business continuity perspective: - Direct cash transfers or reduced cash outflows of individuals
- An Emergency Care Benefit of up to $900 bi-weekly—for up to 15 weeks—to provide income support to workers who must stay home and do not have access to paid sick leave
- Emergency support benefit for workers who are facing unemployment and who are not eligible for EI
- Planned enhancements to the Canada Child Benefit of $300 per child, for those who qualify
- Six-month deferment on interest and payments for National student loans
- Payroll tax reductions or holidays
- 10% wage subsidy available to businesses to keep employees on the payroll, for a period of up to three months from March 18, 2020 (capped at $1375 per employee and $25,000 per employer)
- Extension of tax deadlines
- Federal tax deadlines have been changed for individuals - June 1, 2020 (from April 30)
- Deferral of requirements for tax payment for all taxpayers (individual and corporate) to August 31, 2020
- Temporary suspension of income tax and GST/HST audits of Small and Medium Enterprises for four weeks
- Income tax and other incentives
- Enhanced GST credit—averaging close to $400 for individuals and $600 for couples
- Reduced minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25% for 2020 in recognition of volatile market conditions and their impact on retirement savings for many seniors
- Doubling the funding of the Reaching Home program for homeless individuals
- Increased funding for shelters
- An Indigenous community support fund
Information on government support for individuals and businesses can be found . RAIC will continue to keep the importance of the architectural profession front and centre as we keep members informed. RAIC members are top of mind at this unprecedented time. We continue to monitor the quickly evolving situation and will keep you informed with regular and ongoing communications. |
