Home Image

75% Canada Emergency Wage Subsidy Details

This was published April 1st 2020:

  • Eligible employers who suffer a drop in gross revenues of at least 30 per cent in March, April or May, when compared to the same month in 2019, would be able to access the subsidy.
  • It’s a 3 month program starting March 15 through June 15
  • Firms will need to apply each month for 3 months.
  • The 75% replaces the prior 10% program
  • The Canada Emergency Wage Subsidy would apply at a rate of 75 per cent of the first $58,700 normally earned by employees – representing a benefit of up to $847 per week. The program would be in place for a 12-week period, from March 15 to June 6, 2020.
  • Eligible employers would include employers of all sizes and across all sectors of the economy, with the exception of public sector entities.
  • An eligible employer’s entitlement to this wage subsidy will be based entirely on the salary or wages actually paid to employees. All employers would be expected to at least make best efforts to top up salaries to 100% of the maximum wages covered.
  • Main method for dealing with support for businesses will be done through CRA

Eligible employers would be able to access the Canada Emergency Wage Subsidy by applying through a Canada Revenue Agency online portal. More details regarding how to apply for the program will follow. We’re hearing 6 weeks and a portal will be available on CRA.

Link to News Release.


Share

CAMM welcomes our corporate sponsors

Farrow
Progressive Components
RBC Smith Sponsor