NMMA Canada logo


Mar 31, 2020

Continuing our partnership with NMMA Canada and Canada’s marine trade associations, Boating Industry Canada News Week brings you this important bulletin on COVID-19 and the new Federal Business Supports.

On Friday, March 27, the federal government announced some major new supports for Canadian businesses. Many of these reflect policies that NMMA Canada has been pressing the federal government to adopt (see our recent letter to finance minister Bill Morneau), such as deferring tax and tariff remittances and providing more financial aid to businesses affected by this severe economic downturn. Prime Minister Trudeau said that the government would be rolling out more measures to support the hard-hit tourism and hospitality sectors; NMMA will continue strongly advocating on behalf of our members for policies that assist the recreational boating industry. 

Below is a rundown of what has been announced since our last bulletin:

  • 75% wage subsidy for businesses that can show their revenues have dropped by 30% or more since the start of the COVID-19 crisis. This builds on and replaces the previously announced 10% wage subsidy. Here are the quick details:
  • The assessment of revenue decrease will be done after the fact. If the drop ends up being less than 30%, the company will have to pay back the sgovernment;
  • The benefit is available to companies big and small — there’s no limit on the number of employees a company has. Nonprofits and charities are also eligible;
  • The subsidy will cover up to 75% of the first $58,700 that employees earn. That means up to approximately $847 a week. This will be backdated to March 15th, 2020
  • The subsidy will be a direct payment to the company so they can pay employees. The Prime Minister urged companies that are able to cover the remaining 25% in wages on their own.

You can read the government news release here.  The Prime Minister indicated the government would share further details about the 75% wage subsidy at a press conference tomorrow (Tuesday, March 31st) with finance minister Bill Morneau and small business minister Mary Ng.

  • The new Canada Emergency Business Account will provide interest-free loans through financial institutions of up to $40,000 guaranteed by the government to eligible small- and medium-sized enterprises (SMEs). To qualify, businesses will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).
  • The new Small and Medium-sized Enterprise Loan and Guarantee program will enable up to $40 billion in lending, supported through Export Development Canada (EDC) and Business Development Bank (BDC), for guaranteed loans when small businesses go to their financial institutions for help with COVID-19 expenses. This is intended to help SMEs better meet their operational cash flow requirements.
  • The government is deferring Goods and Services Tax/Harmonized Sales Tax (GST/HST) remittances and customs duty payments to June 30, 2020. According to the Department of Finance, this is equivalent to $30 billion in interest-free loans to businesses.

For any question or issues you may have, NMMA Canada welcomes your email to Sara Anghel ( or Jim Wielgosz (

Our thanks to NMMA Canada for their excellent summary of resources. We will continue to share these valuable and timely resources with our Boating Industry Canada News Week readers. You can re-visit these Bulletins at any time on the Boating Industry Canada website. Click Here

Andy Adams – Editor

Related Posts

NMMA Canada’s Day on the Hill event hits a new high in 2024


While the Day on the Hill lobby session has been a key activity for NMMA Canada for many years now, I feel that the event hit a new high in the 2024 session in Ottawa on May 27 and 28th.

Lead by Executive Director Marie-France MacKinnon and executed by her team and their public affairs firm, BlueSky Strategy Group, the results were impressive. The NMMA Canada Board of Directors were organized into teams with business interests and special skills matched up to politicians and senior bureaucrats to most effectively present the marine industry’s agenda of issues. 

Read More

Need to Catch up on News This Week?

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you’re looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here.

The Hydrobike, a key concept that embodies a vision for the future

DECATHLON, determined to erase the boundary between land and water, introduces its latest forward-thinking concept: the HydroBike. This innovation from the French sports giant aims to democratize access to nature while staying ahead in the transformation of their business model. 

The initial assessment: paddle sports are often inaccessible to less experienced individuals, assuming the acquisition of paddling skills.

Read More

Compass works when electronics don’t

Hubbell-Marine Stainless steel outlet covers

Even in the event of an onboard power failure, a Ritchie Navigation SuperSport Helmsman SS-1002 magnetic compass still works. Plus, when the vessel is moving slowly in fog or while trolling, it can do something a GPS can’t: show the actual heading in real time. As a back-up to modern electronics, it’s a vital navigational tool that belongs on every commercial and recreational boat.

Read More