On June 18, 2020 Mayor John Tory released an open letter urging Toronto’s business community to confront anti-Black racism in the workplace. Read the full letter here or download the PDF version by clicking on the letter.
Car dealerships have started to re-open with COVID-19 restrictions in place. Automotive maintenance and repair services are also available in our area.
Sales are now open by appointment only while they comply with the mandatory safety rules advised by the province.
Before you visit, please call them to schedule an appointment.
Car Dealers & Service Centres
|Auto Gallery||Address: 155 Champagne Dr., Unit: 7, Ph: 4166330000, Website: https://www.autogalleryinc.ca/|
|Toronto Auto Collision||Address: 375 Champagne Dr., Unit: 3,4, Ph: 4164778727|
|Lestar Autoworks Inc.||Address: 101 Toro Rd., Unit: 51, Ph: 4166350815|
|Ultimate Wheels 2U||Address: 101 Toro Rd., Unit: 12, Ph: 6472930770, Website: www.ultimatewheels2u.com|
|Affordable Auto Security & Sound||Address: 496 Champagne Dr. , Ph: 4168258424|
|Pro-touch Auto Centre||Address: 5 Tangiers Rd., Ph: 9056690980, Website: https://protouchautocentre.com/|
|Hardick Spring Service Ltd||Address: 7 Tangiers Rd., Ph: 4166301172, Website: https://www.hardickspringservice.com/|
|Favorit Motors||Address: 100 Toro Rd., Ph: 4168254446, Website: www.favoritmotorscanada.ca|
|SPH Auto Parts||Address: 58 Toro Rd., Ph: 4166383000|
|Shiraz Auto Center Inc||Address: 47 Toro Rd., Ph: 4163985599|
|Jasmin Company Limited||Address: 41 Toro Rd., Ph: 4166040124|
|Sun Auto Inc||Address: 21 Toro Rd., Ph: 4163981383, Website: www.sunautosales.ca|
|SimplyTire Inc||Address: 14 Toro Rd., Unit: 0, 14, Ph: 4169169233, Website: www.simplytire.com|
|Dani’s Auto Group||Address: 5 St. Regis Cres. N, Unit: 1 to 4, Ph: 4166303311, Website: www.danisautogroup.com|
|P.T.S Tire Shops Inc||Address: 9 Tangiers Rd., Ph: 4166359113, Website: www.ptstreshops.com|
|Modena||Address: 5 St. Regis Cres., Unit: 5, Ph: 6477030431, Website: https://modenafinecars.camsdealer.ca/|
|ABS Auto Repair||Address: 44 St. Regis Cres., Ph: 4167205593|
|Fine Cars Motors||Address: 1290 Finch Ave W., Unit: 20, Ph: 4167369870, Website: www.finecarsmotors.com|
|RTA Electric Motors||Address: 100 St. Regis Cres. N, Unit: 1,2, Ph: 4166369546, Website: https://rtaelectric.com|
|SEM Motosports||Address: 130 Lepage Ct., Unit: 16, Ph: 4166367575, Website: semmotorsports.com|
|ASAD Mufflers & Mechanical||Address: 12 Lepage Ct., Unit: 4, Ph: 4163987333|
|Nida Auto Services||Address: 12 Lepage Ct., Unit: 7,8, Ph: 4167312920, Website: https://nida-auto.business.site/|
|Top Japanese Auto Parts-TJP||Address: 75 Ashwarren Rd., Ph: 4166310022, Website: http://www.topjapaneseautoparts.ca|
|European Autobauds Toronto||Address: 162 Limestone Cres, Ph: 6479968555, Website: https://www.europeanautohaustoronto.com/|
|A-ONE Autobody||Address: 144 Limestone Cres., Ph: 4169160310, Website: https://aoneautobody.business.site/|
|Dascan Industrial Controls||Address: 300 Wildcat Rd., Ph: 4166651511, Website: http://dascan.com/|
|Topnotch Auto Sales||Address: 3891 Keele St., Ph: 4168797113, Website: https://www.tnautosales.ca/|
|K.M.S Fine Car Inc||Address: 3895 Keele St., Ph: 4166369434, Website: www.kmsfinecars.com|
|Lucky Auto Electric||Address: 145 Limestone Cres. , Ph: 4167390993|
|Top-Line Auto Body Parts||Address: 163 Limestone Cres., Ph: 4166657077|
|Uptown Auto||Address: 172-174 Limestone Cres., Ph: 4167623333, Website: www.uptownautomotive.net|
|A.Z Auto||Address: 166 Limestone Cres., Ph: 4166671212, Website: www.azautocanada.ca|
|TINA Hand Car Wash||Address: 2899 Steeles Ave W., Unit: 11, Ph: 6475605588, Website: www.thcarwash.com|
|Discount Tires & Auto Glass||Address: 2899 Steeles Ave W., Unit: 13, Ph: 4166500025, Website: https://discount-tires-and-auto-glass.business.site/|
|F&D Automotive Services||Address: 2899 Steeles Ave W., Unit: 29, Ph: 9056692211, Website: www.fdautomotive.com|
|Manila Auto Repair||Address: 2901 Steeles Ave W., Unit: 3, Ph: 4162446343|
|Bodylines Auto Collision Ltd||Address: 121 Brisbane Rd., Unit: 2, Ph: 4167398838, Website: www.bodylinescsn.com|
|Glennalan Motors Ltd||Address: 65 Brisbane Rd., Ph: 4166656230, Website: http://www.glennalanmotors.com/|
|Midas Auto Systems Expert||Address: 3771 Keele St., Ph: 4166303572, Website: www.3771keelestreet.torontomidas.com|
|Hudson’s Fine Cars||Address: 3712 Keele St., Unit: 15-16, Ph: 4166361661, Website: http://www.hudsonsfinecars.com/|
|Montero Auto Centre||Address: 3715 Keele St., Unit: 20, Ph: 4166651940, Website: https://www.monteroauto.com|
|Exclusive Fine Cars Inc||Address: 908 Magnetic Dr., Ph: 4166632010, Website: www.aryafinemotors.com|
|I.L. Auto Repairs||Address: 4465 Chesswood Dr., Ph: 4166306668|
|Leon’s Autobody||Address: 9 Vanley Cres., Ph: 4166368639, Website: http://www.leonsautobody.com|
|Eighty 8 Alpha Automotive Inc.||Address: 70 Vanley Cres., Ph: 4163981975, Website: www.eighty8automotive.ca|
|Superior Tire Auto||Address: 4300 Dufferin St., Ph: 4166359967, Website: www.superiortire.ca|
|Canadian Tire||Address: 4400 Dufferin St., Unit: 1, Ph: 4166679777, Website: https://www.canadiantire.ca/|
|Enterprise Rent-A-Car Canada Company||Address: 4700 Dufferin St., Unit: 4, Ph: 4166632211, Website: http://www.enterprise.ca|
|Autopro Mechanical||Address: 86 Martin Ross Ave., Ph: 4166658974|
|Martin Ross Auto Collision||Address: 86 Martin Ross Ave., Ph: 4166651427|
|Maaco Collision Repair & Auto Painting||Address: 1100 Finch Ave W., Unit: 11A, Ph: 4166505588, Website: https://www.maaco.ca/locations/on/|
|Sun Shine Auto||Address: 1100 Finch Ave W., Unit: 203, Ph: 4167367058|
|Ken’s Auto Body Centre||Address: 1100 Finch Ave W., Unit: 204, Ph: 4166634184|
|Malibu Motors||Address: 1100 Finch Ave W., Unit: 11D, Ph: 4166616623, Website: www.malibumotors.ca|
|The Collection of Fine Cars||Address: 1100 Finch Ave W., Unit: 1, Ph: 4166670453, Website: www.collectionfinecars.com|
|Auto Rover Inc||Address: 4521 Chesswood Dr., Ph: 4166543413, Website: www.autorovertoronto.ca|
|Motorhead Speed Shop||Address: 4610 Dufferin St., Unit: 16B, Ph: 6478604717, Website: https://motorheadspeedshop.com/|
|Adagio Valet Service||Address: 5 Rimrock Rd., Unit: 1, Ph: 4168000454, Website: www.adagiovalet.ca|
|Toronto Drive-Away||Address: 265 Rimrock Rd., Unit: 1, Ph: 4162257754, Website: www.torontodriveaway.com|
|Sorenca Auto Service||Address: 4520 Chesswood Dr., Ph: 6479979633, Website: www.sorenca.ca|
|Havakar Auto Group||Address: 4077 Chesswood Dr., Ph: 4167871718, Website: http://www.havakar.com|
|MG Moto Auto||Address: 4230 Chesswood Dr. Unit: 1, Ph: 4165181256|
|International Auto Body Repair||Address: 4240 Chesswood Dr. , Ph: 4163988516|
|Downsview Chrysler||Address: 199 Rimrock Rd., Ph: 4166351660, Website: www.downsviewchrysler.ca|
|Ari Motors Ltd||Address: 4256 Chesswood Dr., Unit: 3, Ph: 4166365456|
|Rashid Motors||Address: 4246 Chesswood Dr., Ph: 4163985877|
|Han Minh Machine Works Ltd||Address: 1100 Lodestar Rd., Unit: 5, Ph: 4166360660|
|Toronto Auto Mall||Address: 1170 Sheppard Ave W., Unit: 36-38, Ph: 6477485755, Website: www.torontoautomall.ca|
|Auto Master Trading||Address: 1170 Sheppard Ave W., Unit: 27, Ph: 6474369321|
|LAM Auto Services||Address: 1170 Sheppard Ave W., Unit: 48, Ph: 4166308444|
|Auto Guyz Tirecraft Auto Centre||Address: 1185 Finch Ave W., Ph: 4166619300, Website: www.tirecraft.com|
|Bell Auto||Address: 1127 Sheppard Ave W., Ph: 4167368880, Website: http://www.bellauto.ca|
|Autorama Quality Pre-Owned Vehicles||Address: 1205 Sheppard Ave W., Unit: 1, Ph: 4167397262, Website: https://www.autorama.ca|
|Nexcar||Address: 1235 Sheppard Ave W., Ph: 4166338188, Website: https://www.nexcar.ca/|
|Carstar Collision & Glass Service||Address: 1221 Sheppard Ave W., Ph: 4166335652, Website: http://www.carstar.ca|
|IQ Motors||Address: 1111 Finch Ave W., Unit: 45, Ph: 9055814240, Website: www.iqmotors.ca|
|Auto Sport Motors||Address: 1101 Finch Ave W., Unit: 6, Ph: 4167369609|
|Good Tech Auto Centre||Address: 1100 Finch Ave W., Unit: 206/207, Ph: 6472088025 / 4168039192, Website: http://goodtechauto.com|
|Autodom Inc.||Address: 1100 Finch Ave W., Unit: 15, Ph: 4166330600, Website: http://www.autodom.ca|
|ADAR- Automotive Diagnostic and Repair||Address: 1170 Sheppard Ave W., Unit: 33, Ph: 4166360831|
|Car Connection Toronto||Address: 19 Vanley Cres., Unit: 2, Ph: 4166714658|
|Guycan Autobody & Refinish||Address: 173 Limestone Cres., Ph: 4166639945|
|FinishMaster Automotive & Industrial Paint||Address: 45 Brisbane Rd., Unit: 17, Ph: 4167369578, Website: www.finishmaster.ca|
|New Champagne Auto Centre||Address: 375 Champagne Dr., Unit: 2, Ph: 4166381255|
|Frisco Auto parts||Address: 265 Champagne Dr., Ph: 4167369595|
|GTA Shipping Inc||Address: 25 Toro Rd., Ph: 4165650902|
|Vision Autobody Repair & Repaint||Address: 51 Toro Rd., Ph: 4166351666|
|Cost Auto Sales||Address: 101 Toro Rd., Ph: 4166368586|
|Car Impex||Address: 4490 Chesswood Dr., Unit: 1,2, Ph: 6472987978, Website: http://www.ci.ca|
|Inka Tires||Address: 175 Limestone Cres. , Ph: 6477843581, Website: https://inkaauto.wordpress.com/|
|Uptown Auto & Tire||Address: 172 to 174 Limestone Cres., Ph: 4167623333, Website: https://uptown-auto-tire-center.business.site/|
|Wheel Pro||Address: 45 Brisbane Rd., Unit: 24,25,26, Ph: 4167361455, Website: www.wheelprocanada.ca|
|Sreia Automotive Inc.||Address: 1540 Lodestar Rd, Unit: Unit 6, Ph: 4163985025|
|Nortool Automotive Warehousing Inc||Address: 438 Limestone Cres. , Ph: 4166671083, Website: http://www.autoforce.ca|
|Estyle Automotive Ltd.||Address: 130 Limestone Cres, Ph: 4166613323|
|HanKook Automotive||Address: 19 Vanley Cres., Unit: Unit 2, Ph: 4163983848|
|A.H.A. Automotive Design Inc||Address: 11 Vanley Cres., Unit: Unit 2, Ph: 4166338988, Website: http://www.ahalimos.com/home.htm|
|Black Thorn Automotive||Address: 157 St Regis. S, Unit: Unit 102, Ph: 4167828111|
|ADAR Automotive diagnostic and Repair||Address: 1170 Sheppard Ave W., Unit: Unit 33, Ph: 4166360831|
|Ontario Automotive||Address: 1540 Lodestar Rd, Unit: Unit 3, Ph: 4162629922, Website: http://www.ontarioautomotive.ca|
|CMW Automotive Corporation||Address: 130 Lepage Court, Unit: Unit 21, Ph: 4166388284|
|Bloh Automotive||Address: 12 Lepage Court, Ph: 4166386111|
|Aura Automotive Centre||Address: 12 Lepage Court, Unit: Unit 7, Ph: 4166360424|
|Frontline Automotive Inc.||Address: 4801 Keele St., Unit: Unit 27, Ph: 4167396262, Website: http://www.frontlineautomotive.ca|
|Showcase Automotive Inc.||Address: 149 Dolomite Drive, Ph: 4166637666|
|Tire Connections Automotive Speedline Repair||Address: 4361 Chesswood Drive, Ph: 6473426868, Website: http://www.tireconnections.com|
|BMC Automotive||Address: 45 Brisbane Road, Unit: Unit 3, Ph: 4166677544|
|Technique Automotive||Address: 73 Alness Street, Unit: Unit 9, Ph: 6477878444, Website: http://techniqueautomotive.com|
|The Automotive Group||Address: 37 Kodiak Crescent, Unit: Unit 5, Ph: 4163988000, Website: http://www.theautomotivegroup.net|
Whether you are just looking to create an online presence for your business or need to explore ecommerce as a means to drive sales during this difficult period, you will need to create a website for your business.
The DUKE Heights BIA, and The Free Website Guys, a web development agency, understand how important a digital presence for any business is right now, and have worked together to offer any business in our BIA a FREE BASIC or ECOMMERCE WEBSITE!
In order to find out more or apply, click here.Sign Up for Your FREE Website
The Coronavirus – COVID-19 has impacted all of us. Even as the weeks go by, it remains important that we continue to listen to the recommendations of all levels of government and prioritize our health and safety. Social distancing and patience, along with focusing on self-care are extremely important right now.
Last month I co-hosted a Telephone Town Hall about COVID-19 with local MPP, Tom Rakocevic, and special guest, Dr. David Jacobs from Humber River Regional Hospital. The phone numbers that both of our office had on file were called, and many were able to live stream and listen in to the event online as well. We received many questions and will continue to share the most common questions and answers online: www.anthonyperruzza.com.
If you have any concerns or need access to resources, please give my office a call at: (416) 338-5335 or email firstname.lastname@example.org. My staff will continue to provide support, even as the situation changes.
For regular updates, please follow me on Facebook @AnthonyPerruzza, Twitter @PerruzzaTO, Instagram @Perruzza_TO or subscribe to my regular e-newsletter updates online by visiting my website.
For questions related to the Canada Emergency Response Benefit (CERB) or the Canada Emergency Student Benefit (CESB), the Government of Canada is updating their website regularly. Please visit the link below:
For questions about Property Taxes and Income Taxes, including updated deadlines, please visit the links below:
Income Taxes: canada.ca/en/services/taxes/income-tax.html
This has been a challenging time for everyone, especially our most vulnerable. Please call to check on loved ones and neighbours on an ongoing basis. My staff and I will be doing the same.
- Toronto Senior’s Helpline: 416-217-2077 or 1-844-946-1700
o Lumacare also provides programing and services to seniors in need, for more information you can reach them at: 416-398-5511
- Dial #211 Ontario for an extensive list of social services in Ontario.
If you know anyone in need of delivery assistance for groceries or other essential supplies, the Good Neighbour Project is also able to assist. They help seniors, those with disabilities, those in isolation and more. Please call: 647-873-2230 or email: email@example.com for more details.
New Constituency Office Update:
My Constituency Office is now located at 2350 Finch Avenue West, Unit C. I look forward to seeing you there once we are able to meet in person again. I know that we will get through this together.
Looking forward to seeing you soon.
City Councillor Anthony Perruzza
Ward 7 – Humber River-Black Creek
Are you facing challenges in attracting customers during this pandemic? Do you have questions about marketing and promotional supports that are available now from your BIA and partner organizations?
We are here to help. Please provide your contact information in the form below. We will get in touch with you.
We are compiling and promoting a list of essential businesses that are open in our area. Our lists currently consists of restaurants, bakeries, cafes, grocery, medical services, pharmacies, car dealerships and auto servicing, professional services like IT support, financial, accounting and legal services that fall under “essential business” categories. We are constantly adding new entries into these lists and also working towards adding the other essential categories. Please feel free to let us know by email at firstname.lastname@example.org if we are missing any businesses on the lists that are open to serve customers during this difficult time.
Restaurants, bakeries and cafes located in DUKE Heights BIA are continuing to offer take out, delivery and drive-through sales. They desperately need your support in order to survive these tough economic times.
Many of the clinics and pharmacies located in DUKE Heights BIA are serving patients and customers. Some of the service providers made alternative arrangements to protect our health and safety and support our community better. Contact them for your immediate consultation and health care needs.
Groceries and bulk food retailers are among the essential businesses that remain open to serve you right now. Avoid crowding at bigger retail hubs and consider supporting your local businesses who are struggling to survive right now.
If you are looking for professional advice on personal and business financial matters that would require personal or business accounting and tax services, asset and liability adjustments, financial planning, etc. or, if you are dealing with legal matters where you need a legal expert’s opinion, check out our list of financial and legal service providers from DUKE Heights BIA.
Planning to transform your enterprise? Getting ready to face your current or future challenges? IT Support Services providers from DUKE Heights BIA can help identify your requirements, create your digital strategy, and build the necessary solutions and integrations to ensure you’re your business operations work seamlessly and at scale.
Link to the list: https://dukeheights.ca/it-support-service-providers-open-to-serve-you/
Car dealerships have started to re-open with COVID-19 restrictions in place. Automotive maintenance and repair services are also available in our area.
Sales are now open by appointment only while they comply with the mandatory safety rules advised by the province.
There has never been a more important time for small businesses to start stepping up to digital or to enhance their current offerings with digital services. Digital Main Street, a partner to TABIA (Toronto Association of Business Improvement Areas) is here to help DUKE Heights BIA members in finding ways to go digital and sustain through this difficult time.
Digital Main Street is a non-profit program that provides one-on-one assistance through the Digital Service Squad program. The goal is to provide your business with free digital transformation consulting and support. This can include but is not limited to:
- A digital assessment of your business’ digital presence
- Access to a free online video-based digital transformation training program
- Website – review, updating, creation, best practices
- Social Media – support, best practices, advertising, and more
- Technology – support and guidance for the best options of technology tools to implement for your business
- Knowledge of low cost, easy to use software for digital marketing.
- Miscellaneous Digital Transformation Support: loyalty programs, point of sale systems, ecommerce, back-end business operations support, etc.
Joshua Bonilla from Digital Main Street will be available to help you through the process. To make an appointment, follow the instructions here:Marketing Assistance - 30 Minutes
March 18, 2020
The Government of Canada is taking strong and quick action to protect our economy, and the health, safety, and jobs of all Canadians during the global COVID-19 outbreak.
The Prime Minister, Justin Trudeau, today announced a new set of economic measures to help stabilize the economy and help Canadians affected by the impacts of this challenging period.
These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses, plus $55 billion to meet liquidity needs of Canadian businesses and households through tax deferrals to help stabilize the economy. Combined, this $82 billion in support represents more than 3 per cent of Canada’s GDP. This wide-ranging support will help ensure Canadians can pay for rent and groceries, and help businesses continue to pay their employees and their bills during this time of uncertainty.
This plan builds on coordinated action taken since the beginning of this outbreak, including the more than $1 billion COVID-19 Response Fund, which provided funding to provinces and territories to strengthen critical health care systems. It represents over $500 billion in credit and liquidity support for people and businesses through cooperation between financial Crown corporations, the Bank of Canada, the Office of the Superintendent of Financial Institutions (OSFI), and commercial lenders to ensure businesses can continue to operate.
The actions announced today are part of Canada’s whole-of-government response to COVID-19. As a first step, this plan aims to stabilize our economy through targeted measures to address immediate challenges faced by workers and businesses alike. It will help ensure that workers have the money they need while they are sick or in isolation, or due to loss of work or a significant reduction in work income, and help support people and businesses experiencing financial hardship because of the outbreak.
Canadians should not make health decisions based on their financial needs. As the situation continues to evolve, further measures will be announced to support Canadians, stimulate the economy, and protect peoples’ jobs and livelihoods..
Support for workers
Canadians should not have to worry about paying their rent or mortgage or buying groceries because of the COVID-19 crisis. To support workers and their families, the Government of Canada is taking action to:
- Provide additional assistance to families with children by temporarily boosting Canada Child Benefit payments. This measure would deliver almost $2 billion in extra support.
- Introduce an Emergency Care Benefit of up to $900 bi-weekly for up to 15 weeks to provide income support to workers who must stay home and do not have access to paid sick leave. This measure could provide up to $10 billion to Canadians, and includes:
- Workers, including the self-employed, who are sick, quarantined, or who have been directed to self-isolate but do not qualify for Employment Insurance (EI) sickness benefits.
- Workers, including the self-employed, who are taking care of a family member who is sick with COVID-19, such as an elderly parent or other dependents who are sick, but do not qualify for EI sickness benefits.
- EI-eligible and non EI-eligible working parents who must stay home without pay because of children who are sick or who need additional care because of school closures.
- Introduce an Emergency Support Benefit delivered through the Canada Revenue Agency to provide up to $5 billion in support to workers who are not eligible for EI and who are facing unemployment.
- Provide additional assistance to individuals and families with low and modest incomes with a special top-up payment under the Goods and Services Tax (GST) credit. This measure would inject $5.5 billion in the economy.
- Waive, for a minimum of six months, the mandatory one-week waiting period for EI sickness benefits for workers in imposed quarantine or who have been directed to self-isolate, as announced on March 11.
- Waive the requirement for a medical certificate to access EI sickness benefits.
- Extend the tax filing deadline for individuals to June 1, and allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period. This measure will result in households having more money available during this period.
- 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. Employers benefiting from this measure would include corporations eligible for the small business deduction, as well as not-for-profit organisations and charities. This will help employers keep people on their payroll and help Canadians keep their jobs.
- Provide increased flexibility to lenders to defer mortgage payments on homeowner government-insured mortgage loans to borrowers who may be experiencing financial difficulties related to the outbreak. Insurers will permit lenders to allow payment deferral beginning immediately.
In addition, to provide targeted support for vulnerable groups, the Government is investing to:
- Reduce minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25 per cent for 2020 in recognition of volatile market conditions and their impact on many seniors’ retirement savings.
- Implement a six-month, interest-free, moratorium on Canada Student Loan payments for all individuals who are in the process of repaying these loans.
- Provide $305 million for a new distinctions-based Indigenous Community Support Fund, to address immediate needs in First Nations, Inuit, and Métis Nation communities.
- Support women and children fleeing violence by providing up to $50 million to women’s shelters and sexual assault centres to help with their capacity to manage or prevent an outbreak in their facilities. This includes funding for facilities in Indigenous communities.
- Provide an additional $157.5 million to address the needs of Canadians experiencing homelessness through the Reaching Home program.
Support for businesses
In the face of an uncertain economic situation and tightening credit conditions, the Government is taking action to help affected businesses. To support Canadian businesses and help them retain their workers during this difficult time, the Government is announcing measures to:
- Allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period. This measure will result in businesses having more money available during this period.
- Increase the credit available to small, medium, and large Canadian businesses. As announced on March 13, 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. The Government is ready to provide more capital through these financial Crown corporations.
- Further expand Export Development Canada’s ability to provide support to domestic businesses.
- Provide flexibility on the Canada Account limit, to allow the Government to provide additional support to Canadian businesses, when deemed to be in the national interest, to deal with exceptional circumstances.
- Augment credit available to farmers and the agri-food sector through Farm Credit Canada.
- Launch an Insured Mortgage Purchase Program to purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC). As announced on March 16, this will provide stable funding to banks and mortgage lenders and support continued lending to Canadian businesses and consumers. CMHC stands ready to further support liquidity and the stability of the financial markets through its mortgage funding programs as necessary. The Government will enable these measures by raising CMHC’s legislative limits to guarantee securities and insure mortgages by $150 billion each.
The six largest financial institutions in Canada have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges, such as pay disruption due to COVID-19, childcare disruption due to school or daycare closures, or those suffering from COVID-19. As a first step, this support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products. The Government of Canada will continue to monitor evolving economic conditions and seek greater relief measures should it be necessary.
In order to move forward with implementing these new measures needed to provide timely support for Canadians and to ensure the Government has every tool at its disposal to address potential challenges that may arise, the Government intends to introduce special legislation and seek the approval of Parliament.
The Government of Canada will continue to take further action as required to prioritize the health and safety of Canadians, stabilize the economy, and mitigate the economic impact of this pandemic.
“No Canadian should have to worry about paying their rent or buying groceries during this difficult time. That is why we are taking the strong action needed to stabilize our economy and help those impacted by the COVID-19 virus. Together, we will get through this difficult time.”
The Rt. Hon. Justin Trudeau, Prime Minister of Canada
“These are extraordinary times and we must take extraordinary measures. The Government of Canada will do whatever it takes to ensure that the health of Canadians is protected, families and businesses are supported and our economy remains strong, even in the face of uncertainty. I am working with the financial sector, the Bank of Canada, my provincial and territorial colleagues, and my counterparts from around the world to keep coordinating on significant actions to protect the Canadian and global economy. Canadians can rest assured that we are ready to take all necessary measures to meet the challenges ahead.”
The Hon. Bill Morneau, Minister of Finance
The impact of the Covid-19 virus, and the needed measures taken to control the outbreak are having and will continue to have an impact on many businesses in Canada. Not only do businesses have to contend with challenges in their supply chain and business travel, they now also have to contend with the impact that social distancing will have on their business.
This impact will be felt in two main ways. The first is being a responsible employer who needs to keep the welfare of all their staff top of mind and support the option of working from home if at all possible.
Businesses particularly in manufacturing and in those providing technical services cannot produce or deliver their products and services without their employees, which makes these businesses particularly susceptible to changes in the availability of labour. Traditional service-based businesses may also be impacted due to the lack of planning and the infrastructure required for employees to work remotely.
The second main impact felt by all businesses will be the inevitable slowdown in demand for their goods and services, as consumers, both individual and businesses refrain from nonessential purchases due to climate of uncertainty.
The minister of Finance Bill Morneau, Governor of the Bank of Canada Stephen Poloz, and Superintendent of Financial Institutions Jeremy Rudin have however outlined a few initiatives that are aimed at coordinated package of measures being taken by financial sector partners to support the functioning of markets and continued access to financing for Canadian businesses.
Some of the measures are aimed at ensuring that our financial institutions have ample liquidity to support lending activities to consumers and businesses. These liquidity measures will also provide financial institutions flexibility in how they deal with mortgage and loan repayments.
The most important measure for business is the Business Credit Availability Program (BCAP). The program aims to further support financing to the private sector to the tune of $10 billion, through the Business Development Bank of Canada (BDC), and Export Development Canada (EDC). Under the program, BDC and EDC will enhance their cooperation with private sector lenders to coordinate financing and credit insurance solutions for Canadian businesses.
The Business BDC will aim to support businesses through three main programs:
The small business loan, which can be applied to online, and is up to $100,000, will assist businesses in assisting businesses with more traditional business growth funding.
Working capital loan, which as the name implies, is aimed at providing businesses with access to additional funds to support the need for working capital. This facility is often paired with, or in support to a traditional line of credit.
Purchase order financing, which assists in managing cash flow on the back of any client Purchase Order (PO). This means that you can use any spare cashflow for other functions in this time of business stress.
The EDC will provide further support to our exporters by facilitating access to capital. They will work in collaboration with federal and traditional financial institutions to find the best solution for the needs of Canadian exporters.
It is important to keep up to date with developments, and new policy responses. Here are some links that we recommend for further information.
City of Toronto COVID-19 Economic Support and Recovery : https://www.toronto.ca/home/covid-19/economic-support-recovery/
BDC Support for entrepreneurs impacted by the COVID-19 coronavirus : https://www.bdc.ca/en/pages/special-support.aspx?special-initiative=covid19
EDC COVID-19 : https://www.edc.ca/en/campaign/coronavirus-covid-19.html