The Government of Canada announced a series of measures today in support of Canadian businesses from the impacts of COVID-19. These measures include: (i) deferral of sales tax remittance and customs duty payments (ii) GST/HST Remittance Deferral (iii) new loan programs for businesses (iv) wage support up to 75% for qualifying small and medium sized enterprises, retro to March 15 (v) $12.5 billion in new funding through BDC and EDC to help small and medium size enterprises with cash flow.
“The Canadian Trucking Alliance (CTA) applauds the Government of Canada for taking these measures to assisting the citizens and businesses of Canada during the COVID-19 crisis,” said CTA president Stephen Laskowski.
CTA will continue to work with the federal government on specific measures that may be required for the trucking sector due to unique challenges facing the trucking sector in response to the COVID-19 crisis.
CTA will provide its members more details on today’s announcement when they become available. To read more details about some of the above measures click here.