On July 17th 2020, the Government responded to recent feedback received from public consultation and addressed many of the concerns with the previous iteration of the Canada Emergency Wage Subsidy (CEWS) program (referred to as “CEWS 1.0”) by significantly revising the program (referred to as “CEWS 2.0”) by: Extending the program to December 19th 2020, […]
Economic Measures Update: For the Week Ending April 17, 2020
CANADA EMERGENCY WAGE SUBSIDY (“CEWS”) – 75% WAGE SUBSIDY UP TO $847/WEEK CRA application portal ready in 1-3 WEEKS [Sources say it may be ready April 27, 2020] The legislation received royal assent late last Saturday night (April 11th). It is a wage subsidy of up to $847 per employee per week if the business […]
75% Canada Emergency Wage Subsidy (CEWS)
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 […]
Canada Emergency Wage Subsidy: Additional Department of Finance Commentary
The Department of Finance has posted additional information on the Canada Emergency Wage Subsidy on their web-site. The posting provides some clarification on various elements of the subsidy. Revenue Decline For the purpose of measuring the decline in the business’s revenues, the revenue must: be from a business carried on in Canada, be from arm’s-length […]
Canada Emergency Wage Subsidy: Department of Finance Release
Further to the briefing by the Minister of Finance and the Minister of Small business earlier today, the Department of Finance has issued a press release regarding the new Canada Emergency Wage Subsidy (“the Subsidy”). Based on the press release: The Subsidy is in place for the 12-week period from March 15 to June 6, […]
