Certain innovative businesses in Canada can still apply for financial assistance being made available in response to the coronavirus (COVID-19) pandemic.
The application period is open until 29 April 2020.
Small and medium-sized Canadian employers pursuing technology‑driven innovation need to consider whether they may be eligible for a temporary 12-week wage subsidy under a new “innovation assistance program” available through the industrial research assistance program—intended to support innovative firms that do not yet have revenue or are in the early stages of development and may not qualify for other government support.
Employers that are innovative businesses need to determine whether they qualify for this subsidy and consider making an online application for this program before the deadline ends this week. Payments to successful applicants will begin the week of 11 May 2020.
Read an April 2020 report prepared by the KPMG member firm in Canada
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.