The Alberta government has deferred corporate income tax balances and installment payments from March 19 until August 31, 2020. Read morehere.
The Alberta government has provided support measures to allow commercial customers to defer electricity and natural gas bill payments for the next 90 days, regardless of service provider. Read morehere.
Business Loans and Credit
The federal government has announced that they will increase the credit available to small, medium, and large Canadian businesses. A new Business Credit Availability Program will provide more than $10 billion of additional support to businesses experiencing cash flow challenges through the Business Development Bank of Canada and Export Development Canada. Read morehere.
The federal government announced that the Office of the Superintendent of Financial Institutions (OSFI) will lower the Domestic Stability Buffer by 1.25% of risk-weighted assets, effective immediately. This action will allow Canada’s large banks to inject $300 billion of additional lending in to the economy.
ATB Financial small business customers can apply for a payment deferral on loans and lines of credit for up to 6 months.
ATB Financial small business customers can access additional working capital.
ATB Financial agriculture and other business customers can access support on a one-on-one basis. Read morehere.
Customers of other banks should check with their bank provider, as Canada’s large banks have confirmed support, but have not yet released details. Read morehere.
The City of Edmonton is examining property tax relief measures.
The City of Edmonton is examining business tax relief measures.
The City of Edmonton is examining BIA levy relief measures.
The Alberta government has said that charitable and non-profit groups will immediately receive an additional $60 million to support seniors and other vulnerable populations disproportionately affected by COVID-19.
The federal government will provide eligible small businesses a 10 per cent wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer. Read morehere.