HAAC is pleased to provide you with the information below regarding some of the current financial support programs being offered by both the Provincial and Federal Governments.
ATLANTIC COMPASSION FUND
Managed by the United Way Halifax in collaboration with 10 United Ways throughout Atlantic Canada, the Atlantic Compassion Fund has been established to support community agencies and the people they serve who are affected by the COVID-19 pandemic.
As public health measures are being made across the region, people who are already vulnerable are facing major disruptions and new risks – and many are in crisis right now. Things like a lack of access to food, medicine and transportation, the closure of public spaces, lost wages, and inability to connect with family, friends or care providers can take already challenging circumstances to unmanageable extremes.
The Fund will help meet basic needs, reduce the impact of further marginalization, and bring people back together when the time is right.
Since launched mid last week, the Fund has distributed $100,000 to agencies in HRM with another $100,000 being readied for approval and distribution this week. The UW is working closely with the province and other partner’s so this program supports, fills gaps and complements other efforts rather than unintentionally duplicating efforts.
For more information, or to donate, visit unitedwayhalifax.ca
UPDATE TO THE TENANCY AND DISTRESS FOR RENT ACT
Effective March 31, 2020 at 6 a.m., landlords are not permitted to change locks orseize property of businesses who cannot pay rent, if the business closed directly because of COVID public health orders.
An updated copy of the Direction from Chuck Porter, Minister of Municipal Affairs and Housing is available here: https://novascotia.ca/coronavirus/Direction-of-the-Minister-under-a-Declared-State-of-Emergency.pdf
COVID-19 SMALL BUSINESS RENTAL DEFERRAL GUARANTEE PROGRAM
We realize that rent is due in only a few days and businesses that have been required to close as a result of the Public Health Order are left wondering how they will pay their bills. Government is encouraging landlords to defer payment of commercial leases for three months and spread those payments over the remainder of the lease agreement. Landlords who enter into a rental deferral agreement with their eligible tenants will be able to claim losses of rental income.
To be eligible for the COVID-19 Small Business Rental Deferral Guarantee Program, landlords must register with the Department of Business by 3 April by emailing NSRentDeferral@novascotia.ca. The rent deferral agreement must be in place by 1 April. More information is available at https://novascotia.ca/coronavirus/#support
FEDERAL SUPPORT FOR SMALL BUSINESSES ANNOUNCED TODAY
Today, March 27, the federal government announced supports for small businesses impacted by COVID-19. The announcement included:
- An increase to the wage subsidy from 10% to 75%, back dated to March 15, 2020
- Allowing businesses, included self-employed, to defer all GST and HST payments until June
- The launch of the new Canada Emergency Business Account – offering $25 billion to eligible financial institutions so they can provide interest-free loans to small businesses
- Launch of the Small and Medium-sized Enterprise Loan and Guarantee program, that will enable up to $40 billion in lending through the EDC and BDC
More information on today’s federal announcement is available at https://www.canada.ca/en/department-finance/economic-response-plan.html