The federal government has once again extended the Canada Emergency Wage Subsidy (CEWS) and made changes to the eligibility criteria.
While most businesses will want to work with an accountant to apply and determine their subsidy amount, the government does provide lots of good information on the CEWS FAQ page, this CEWS information page and the application page.
Here are some highlights of the latest version of the CEWS:
- CEWS extended until June 2021.
- Maximum subsidy amount of 65% for periods 8 – 10 (September 27, 2020 – December 19, 2020). This is a maximum weekly benefit of $734 per employee and requires employers to show a revenue drop of 70% of more.
- Employers with any amount of revenue drop will be eligible for some amount of subsidy.
- Deadline to apply is January 31, 2021, or 180 days after the end of the claim period, whichever comes later. Continue Reading Canada Emergency Wage Subsidy Update