This bill was last introduced in the 43rd Parliament, 2nd Session, which ended in August 2021.
Chrystia Freeland Liberal
This bill has received Royal Assent and is now law.
This is from the published bill.
This enactment amends the Income Tax Act to revise the eligibility criteria, as well as the level of subsidization, under the Canada Emergency Wage Subsidy (CEWS) as part of the response to the coronavirus disease 2019. It also extends the CEWS to June 30, 2021. The enactment further amends the Income Tax Act to introduce the Canada Emergency Rent Subsidy (CERS) in order to support those hardest hit by the coronavirus disease 2019. This subsidy provides relief in respect of rent and interest on debt obligations incurred to acquire real property used by businesses, charities and not-for-profit organizations in the course of their businesses or other activities. The rent subsidy is effective as of September 27, 2020.
All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.
Jenny Kwan NDP Vancouver East, BC
Madam Chair, I have written to the minister about the PNE. If it cannot get access to the wage subsidy program, that may spell the end of this 110-year-old institution that provides employment to over 4,200 Canadians annually.
Will the Liberals help the PNE survive the pandemic?
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, let us just remember that what we are talking about tonight is very comprehensive support that is going to be in place until the summer. I do not think there is any country in the world—
Jenny Kwan NDP Vancouver East, BC
Madam Chair, it is not enough. Statistics from the Tourism Industry Association of Canada state that only 12% of the tourism applicants to the business credit availability program were approved and 43% were outright denied.
The tourism and hospitality sector desperately need liquidity to get through the winter. Will the Liberals make adjustments to the program so they can access this critical program?
Income Tax ActGovernment Orders
November 5th, 2020 / 11:05 p.m.
Mississauga—Malton Ontario
Liberal
Navdeep Bains LiberalMinister of Innovation
Madam Chair, with respect to the programs we have in place, BCAP is a great initiative. Also, I want to underscore the fact that we have LEEFF, which was highlighted before. Above and beyond that, if companies have faced challenges, we have put forward monies through the regional development agencies, $1.5 billion, to assist these enterprises and organizations across the country.
Jenny Kwan NDP Vancouver East, BC
Madam Chair, again, will the Liberals make adjustments to the program so they can access this critical program?
Navdeep Bains Liberal Mississauga—Malton, ON
Madam Chair, we have demonstrated not only scale and speed, but also flexibility in the way we design programs. We look forward to working with members opposite going forward.
Jenny Kwan NDP Vancouver East, BC
Madam Chair, I would like to go back to the Minister of Finance about the PNE. Will the Liberals help the PNE survive the pandemic?
Chrystia Freeland Liberal University—Rosedale, ON
As I said, Madam Chair, the programs that we have put in place are extensive. We, together here in the House, are giving businesses and organizations across the country real certainty. We know that they do not cover—
Jeremy Patzer Conservative Cypress Hills—Grasslands, SK
Madam Chair, does the finance minister have a short-term plan for the economy?
Income Tax ActGovernment Orders
November 5th, 2020 / 11:05 p.m.
University—Rosedale Ontario
Liberal
Chrystia Freeland LiberalDeputy Prime Minister and Minister of Finance
Madam Chair, yes, we do have a plan and big part of the plan is the work we are doing here tonight.
Jeremy Patzer Conservative Cypress Hills—Grasslands, SK
Madam Chair, does the minister have a medium-term plan for the economy?
Chrystia Freeland Liberal University—Rosedale, ON
I sure do, Madam Chair. It is called one million jobs.
Jeremy Patzer Conservative Cypress Hills—Grasslands, SK
Madam Chair, does the minister have a long-term plan for the economy?
