The last few months haven’t been kind to Canadian fish harvesters. Between supply chain disruptions, labour concerns and shifts in consumer demand, COVID-19 has dramatically impacted self-employed fish harvesters’ revenue streams.
To help weather the effects of the pandemic, the Government of Canada recently introduced two new financial assistance programs—the Fish Harvester Benefit and Fish Harvester Grant. Applications for both programs will be accepted from August 24 to September 21, 2020.
If you’re interested in applying, here’s what you need to know:
Fish Harvester Benefit
- What it is: The Fish Harvester Benefit provides a maximum of $10,164 in income support to self-employed fish harvesters and sharepersons. It covers up to 75 percent of income losses beyond a 25 percent threshold for the 2020 tax year (when compared to 2018 or 2019).
- Eligibility requirements: You must be either a self-employed fish harvester or shareperson and, if you’ve already received the Canadian Emergency Wage Subsidy (CEWS) to support your own wages, you unfortunately aren’t eligible.
Fish Harvester Grant
- What it is: The Fish Harvester Grant is a non-repayable grant offered to self-employed fish harvesters. Depending on your historic fishing revenue in 2018 or 2019, you can receive up to $10,000.
- Eligibility requirements: You must be a self-employed fish harvester with a valid 2020 commercial fishing license and you must have landings against a commercial fishing license for 2018 or 2019 as well. Additionally, you do not qualify if you’ve already received the Canadian Emergency Business Account (CEBA) or equivalent support measures.
We’re here to help
Government programs are notoriously complex, which is why it’s best to thoroughly understand the parameters before getting started. You can learn more about both of these programs on the Government of Canada website—or give your Grant Thornton advisor a call to determine if you’re eligible.
If you check all the boxes, our experienced team can help you navigate the applications process in record time—so you can get back to business. Contact us to learn more.