The Government of Canada passed into law on Saturday, April 11th 2020 Bill C-14 the COVID-19 Emergency Response Act No. 2 which provides a 12 week wage subsidy of up to $847 per employee per week:
- to “eligible entities”
- in respect of “eligible remuneration”
- paid to “eligible employees”
- during a “claim period” (four week periods from March 15 to June 6, 2020)
The subsidy is meant to help businesses keep and return employees to work.
The CRA expects to be able to process applications through the My Business Account Portal on the CRA website or through an online portal available in the next 2 to 4 weeks.
If you need further information or assistance with the new 75% wage subsidy, please contact your DMCL business and tax advisor.