April 22, 2020

COVID-19 UPDATE: Canada Emergency Wage Subsidy – Applications Open April 27th

More information was released on the Canada Emergency Wage Subsidy including how and when to apply. Here’s the latest: Reminder of what it is: A subsidy of 75% of employee […]

More information was released on the Canada Emergency Wage Subsidy including how and when to apply. Here’s the latest:

Reminder of what it is: A subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020.This wage subsidy will enable employers to re-hire workers previously laid off as a result of COVID-19, help prevent further job losses, and better position employers to resume normal operations following the crisis.

Eligibility:

The CRA has clarified what constitutes an eligible employer and all the details are available by clicking here

They have also clarified eligible employees, which you can view here

Calculating the Subsidy:

The CRA has released a calculator to help you, you just have to input your information. You can view this by clicking here

How and When to Apply:

Applications will be open April 27th. Most businesses may apply using My Business Account through the CRA. If you represent a business, you may apply using “Represent a Client.” Alternatively, you may apply using a separate online application form (available April 27).

The CRA has also outlined what you should do now to prepare yourself for applying, you can view this by clicking here.

To view the full CRA page with all of the details released, please click here.  You can also view our previous blog on this and more COVID-19 resources by clicking here.

As always if you have any questions please reach out to your trusted Catalyst Advisor or inquire@thecatalystgroup.ca to direct your email.