Many, if not all, Canadian businesses have been affected by the COVID-19 outbreak. However, Canada introduced the Canada Emergency Wage Subsidy (CEWS) to support employers during these troubling times. In short, this subsidy covers 75% of employee wages for eligible employers. Therefore, if you’re interested in finding out more about CEWS including what it is or whether you’re an eligible…
Premier John Horgan announced a 4 phase plan to restart the province and slowly loosen restrictions. What does this mean? It means that if certain requirements are met, the province will progress through these phases. As a result, businesses may begin to reopen under the condition of safe operation. According to B.C.’s Restart Plan, which can be found here, public…
On Monday, May 4, 2020, the B.C. Ministry of Labour announced a change to the B.C. Employment Standards Act. More specifically, temporary layoffs are now extended to 16 weeks. This is a result of the COVID-19 outbreak and its unprecedented effects on the labour market. The B.C. government changed its employment regulations in order to match the Canada Emergency Response…
During these difficult and uncertain times, the federal and provincial governments have been taking measures to provide financial support to those who need it. This includes employed and self-employed individuals who have been directly impacted by the COVID-19 outbreak. In addition to the Canada Emergency Response Benefit (CERB), the province of British Columbia has announced the B.C. Emergency Benefit for…
Prime Minister Justin Trudeau announced the details for the Canada Emergency Commercial Rent Assistance (CECRA) program on April 24, 2020. The program aims to provide the support needed by small businesses experiencing financial hardship due to the COVID-19 outbreak. The government hopes that introducing this program will contribute towards a quicker and easier economic rebound once restrictions are lifted. In…
On March 18, 2020, Prime Minister Justin Trudeau announced the COVID-19 Economic Response Plan. Its goal is to mitigate the negative economic effects of the virus by providing relief for workers and businesses through fiscal stimulus measures. More specifically, the plan will provide up to $27 billion in direct assistance to Canadian individuals and businesses. In addition, $55 billion in…
Dear Clients, Colleagues, and Friends: We have waited to post this update to give each of you time to adjust to the “new normal” all of us will be facing for the foreseeable future. At the outset, we wish to extend our heartfelt concern to you and your loved ones. As a community, we will get through this, and we…
The coronavirus outbreak has affected everyday life with the media playing a large role in instilling panic through sensationalized headlines. The general public’s fear of the unknown coupled with misinformation has already led to a shortage in personal supplies such as hand sanitizer, face masks, and toilet paper. Thus, it is logical to assume that the real estate market, too,…