Please note that there is a firm deadline of January 31st, 2021 for eligible businesses that have suffered a revenue decline to apply for the CEWS which provides up to $847 per employee per week for the period from March 15th to August 1st, 2020.
To qualify, a business must have suffered a revenue decline of 15% or more for the March 2020 claim period, a 30% or more revenue decline for the April to June claim period and a revenue decline for the July claim period. The subsidy is up to $847 per employee per week for the March 15th to July 4th, 2020 claim periods and will be based on the revenue decline percentage for the July 5th to August 1st, 2020 claim period.
The savings are substantial as they provide up to a $17,388 wage subsidy per employee for the March 15th to August 1st, 2020 claim periods; so please contact us as soon as possible if you intend to make these claims. The rules are extremely complex and require an accounting of a business’ revenues for these claim periods as compared to the comparable period in 2019, so please contact us as soon as possible.
The deadline for making CEWS claims for subsequent claim periods after August 1st, 2020 is 6 months after the end of the claim period. For instance, the deadline for applying for CEWS for the August 2nd to August 29th, 2020 claim period is February 25th, 2021.
Again please notify your DMCL advisor immediately if you need assistance with making the CEWS claims for the March 15th to August 1st, 2020 claim periods. After January 31, 2021, businesses will no longer be able to apply for the CEWS for the March 15th to August 1st, 2020 claim periods.