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PEIFA update on the Federal Announcement - Fish Harvesting sector - May 14 2020
The Fish Harvester Benefit program was announced early this afternoon (May 14th) by the Federal Government for fishing harvesting sector:
The details are as follows:
470M Fish Harvesters Benefit Program
If there is a 25% drop in income, Feds will cover 75% of losses up to 10K. If you pay crew shares, Captain and crew can apply to have their losses covered in 2020. This program is meant to address the issue with many fleets not qualifying for the CEWS program as their crews are paid through their buyers
Canada Emergency Wage Subsidy (CEWS) has been extended as announced earlier this week for those that are eligible for the program.
Non repayable grants for up to 10K will be available to License holders only
Captain / Crew – change in EI rules so Captains and crew can apply based on income prior to 2020
There is no program that will address people not fishing
The Federal Government is putting together a communications package with more details on the program but this has not been issued yet.
More details of the program will be posted when received.