Canada Emergency Wage Subsidy for Small Business

 

The Canada Emergency Wage Subsidy (CEWS) supports employers that are hardest hit by the pandemic, and protect the roles Canadians depend upon.

The subsidy generally covers 75% of an employee’s wages – up to $847 per week – for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15% in March and 30% in April and May.

The program is going to be in situ for a 12-week period, from March 15 to June 6, 2020.

Employers who are eligible for the CEWS are entitled to receive a 100% refund surely employer contributions to Employment Insurance, the Canada pension plan, the Quebec pension plan, and the Quebec Parental Insurance Plan paid in respect of employees who are inactive with pay.

For employers that are eligible for both the CEWS and thus the ten Temporary Wage Subsidy for a period, and luxuriate in the Temporary 10% Wage Subsidy for remuneration paid in a specific period will generally reduce the quantity available to be claimed under the CEWS therein same period

The Canadian economy lost a record of 1 million jobs in March. By April 10th over 5.85 million Canadians had applied for federal emergency unemployment help since March 15.

For info about Canada Emergency Wage Subsidy visit:- https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy.html

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