Prime Minister Justin Trudeau announced that the Canadian Emergency Wage Subsidy will be extended through to June 2021.
The federal government is also providing a new emergency rent subsidy for businesses that will go directly to tenants, not landlords.
Trudeau made the announcements at a COVID-19 press briefing on Friday.
The extension of the wage subsidy will secure jobs and support for workers across the country, Trudeau said.
“This program has been a lifeline for millions of Canadians,” he told reporters.
Under the new rent subsidy, small businesses affected by COVID-19 can have up to 65% of their rent covered. Those impacted by a public health-mandated lockdown can receive an additional 25%.
“Combined with the rent assistance, this means that hard-hit businesses could get a rent subsidy of up to 90%,” Trudeau said.
Canadian businesses can begin applying for the new subsidies on Monday, November 23, and they are retroactive to the beginning of October 2020.