Emergency Income Relief for the Self-Employed

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The Emergency Income Relief Fund is a temporary support for self-employed Prince Edward Island residents who do not qualify for the Canada Worker Lockdown Benefit and have substantially lost income (50% minimum) as a result of the Temporary COVID-19 Measures announced on December 17, 2021.      

What is being supported through this program?

This program will reimburse self-employed individuals who have lost at least 50% of their self-employment income (gross).  Applicants will be reimbursed 100% of their loss in revenue, but in no event shall it exceed the maximum reimbursement of $300 per week. 

Self-employed individuals may apply for reimbursement for each of the following periods;
Period 1 - December 18, 2021 to December 25, 2021;
Period 2 - December 26, 2021 to January 1, 2022; 
Period 3 - January 2, 2022 to January 8, 2022;
Period 4 - January 9, 2022 to January 15, 2022; 
Period 5 - January 16, 2022 to January 22, 2022; and
Period 6 - January 23, 2022 to January 29, 2022.

Eligibility dates are from December 18, 2021 to January 29, 2022.

Who is eligible for funding?  

An eligible self-employed individual must:

  • Have business income as their primary source of income (more than 50%);
  • Must be actively earning income in PEI during the claim period (sole proprietorship, partnership, or corporation);
  • Clearly demonstrate loss in self-employment income of at least 50% due to the recent Temporary COVID-19 Measures announced on December 17, 2021; and
  • Be in good standing with the Province.

Who is NOT eligible for funding?

What Level of Assistance is available?

For self-employed:  

  • Regardless of the amount, one application will be accepted for each period. 
  • Losses will be calculated by comparing your income during the reporting periods, with your highest weekly income from the preceding four weeks prior to December 18, 2021.  
  • Assistance will be calculated based on the reported loss to a maximum weekly reimbursement of $300/week.
  • An individual can apply for one business only, regardless of the number of businesses owned.
  • Multiple owners can apply for the same business, but assistance will be reflective of the reported loss. 

What do I need to apply?  

Individuals must keep all documents supporting their eligibility for the program for a period of three years following approval to the program for audit and compliance purposes.

Self-employed - Sole Proprietorship or Partnership:

  • Business banking information, including a copy of a VOID cheque;
  • Most recent Statement of Business or Professional Activities (T2125) found in the personal tax return OR most recent HST form; and
  • A completed application form (including the attachment of required documents).  

Self-employed - Corporation:

  • Business banking information, including a copy of a VOID cheque; 
  • Most recent Statement of Business Income and Expenses (Schedule 125 found in the corporate tax return OR most recent HST form; and
  • A completed application form (including the attachment of all required documents).  

How do I apply?

  • Online applications are recommended; however, a hard-copy application can be mailed or faxed;
  • For best results, use an updated version of Chrome;
  • Online application must be completed in one sitting as applications do not save if the session times out.  As such it is recommended to: 
    • Have all requested documents saved on your computer and named before starting the application. 
    • The application upload capacity is 8 GBs.  Cell phone pictures of requested documents (ex. Business Income Statement) are NOT recommended unless resolution is set to small.  
    • Scanned or PDF documents are recommended for successful submission of the application.

When is the deadline for applications? 

The deadline for applications is February 28, 2022.

*This information is provided for information purposes and is not comprehensive or reflective of all Innovation PEI policies.  Not all projects meeting the minimum assistance criteria outlined will receive funding. Please consult with an Innovation PEI Business Development Officer for guidance specific to the business's situation. 

Contact Information

Innovation PEI

94 Euston Street, PO Box 910
Charlottetown, PE  C1A 7L9
Telephone: 902-368-6300
Facsimile: 902-368-6301
Toll-free: 1-800-563-3734

Business Concerns: 1-866-222-1751

Innovation Î.‑P.‑É.

Renseignements généraux

Innovation Î.-P.-É.
94, rue Euston
C.P. 910
Charlottetown (Î.-P.-É.) C1A 7L9

Téléphone : 902-368-6300
Télécopieur : 902-368-6301
Sans frais (Amérique du Nord) : 1-800-563-3734

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