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.
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.
As always if you have any questions please reach out to your trusted Catalyst Advisor or firstname.lastname@example.org to direct your email.