REMINDER
Possibility of applying in 4-week periods since the first period began on March 15, 2020;
Based on sales decline calculated on a monthly basis for the full months of 2020. The required decline is :
- Month of March: 15% (qualifies for a subsidy of 75% of remuneration)
- Months of April, May and June: 30% (qualifies for a subsidy of 75% of remuneration)
- July and following: no minimum drop required. On the other hand, the % subsidy will depend on the drop in sales, with a factor of between 0.8x and 1.2x the drop in sales.
There are two reference periods for calculating sales:
Corresponding month of 2019;
Average for January and February 2020.
Possibility of changing reference period to Period 5.
For example: take the average of January and February from Period 1 to Period 4 and take the corresponding month of 2019 from Period 5.
Automatic qualification for the following month following a qualification of a drop in sales over a period. Even if there is an increase in sales for that month.
NEW
- Maximum subsidy rate frozen at 65% for periods 9 and 10 (November and December). The maximum rate is reached with a drop in income of around 70%.
- Extension of the program until June 2021 according to criteria yet to be determined.
- The application deadline for the first periods is January 31, 2021.
If you have any questions about this update, please contact Gustave Legault-Brousseau, CPA, CMA, Senior Financial Analyst at Amyot Gélinas at 450 971-1550 ext. 3472.
