Last week, in one their COVID-19 bulletins, the Tourism Industry Association of BC (TIABC) provided a synopsis of a webinar they attended, which was hosted by the Greater Vancouver Board of Trade. From this webinar, TIABC outlined a helpful list of 10 things small- and medium-sized businesses can do right now:
- Ensure your CRA business account is set up ASAP and ensure direct deposit is set up correctly.
- PROVINCIAL: Defer PST and Employer Health Tax payments to September 30.
- FEDERAL: Defer GST and Federal tax payments, but continue to file your returns.
- Explore options with BC Hydro to defer bill payments or arrange for flexible payment plans with no penalty.
- Defer ICBC payments for 90 days.
- Explore the Canada Emergency Business Account.
- Explore your eligibility for the Federal Wage Subsidy program.
- Defer individual tax payments.
- Check and see if your municipality is offering any tax-deferral options.
- Share information about the employment benefits available to your staff:
- Canada Emergency Response Benefit (CERB)
- BC Emergency Benefit for Workers
- Employees who are unable to work due to COVID-19 related reasons are permitted to take unpaid, job-protected leave (retroactive to January 27)
For more information on the government support available for businesses, services, and people, follow our Industry News post.