Morneau unveiled more details about the wage subsidy that Prime Minister Justin Trudeau has announced, and then updated, in recent days. Subscribe to our Canadian Tax newsletter to receive these updates to your inbox. For the current period (July 5 to Aug. 1) and the next one (Aug. 2 to Aug. 29), a safe harbour provision allows for a business that would have been better off under the prior rules (i.e., 75% wage top-up for revenue declines of 30% or more) to receive that prior subsidy amount. Sections. Table 3 below illustrates the modulation of the top-up CEWS for each period.The top-up CEWS rate is determined based on either:This choice should match the revenue decrease calculation determined for the base subsidy.

On April 11, 2020, the legislation implementing the Federal Government's new Canada Emergency Wage Subsidy ("CEWS") was enacted. Finance recently completed a public consultation on the 75% Canada Emergency Wage Subsidy and is expected to introduce changes to the revenue decline threshold for the remaining claim periods soon.

Please check your email and follow the instructions.We respect your privacy. The three (3) day time limit will be applicable for businesses registered with the CRA for direct deposits.Records will be required to be kept for the calculation of income and eligible income remuneration.The person who has principal responsibility for the entity’s financial activities will be required to certify that the application is based on accurate and complete financial information.It is now possible to amend a request that has been forwarded to the CRA. Can I improve my …As we approach the next month, focusing on short and …Emergency financial aid, help measures, and a hotline are now …The Federal Government has provided a temporary wage subsidy for …You may be asked to produce records of employment (ROE) …Governments have introduced new tax measures: temporary Income Support for …Revenu Québec has modified certain deadlines for tax return filing …For the first 4 periods (March 15 to July 4, 2020), this program takes the form of a wage subsidy at the rate of 75% of an employee’s eligible income up to an annual maximum of $58,700, representing a maximum weekly benefit of $847 per employee (i.e. The emergency wage subsidy is available for 36 weeks, from March 15 to November 21, 2020 (subject to a 4-week extension until December 19), for businesses that have experienced a decrease in their gross income.For Period 5 (July 5 to August 1st), the subsidy is at a maximum rate of 60% (base CEWS) and will be adjusted (reduced) according to the decrease in the eligible employer’s gross revenue for a given period. Cue the creation… That eligibility requirement was criticized by business groups and other federal parties To date, approximately 269,000 employers have accessed the CEWS, 724,000 have been approved, and the federal government has paid out a total of $22.6 billion.Last week, when C-20 was being debated in the House, the Conservative party argued the government’s proposed changes to the subsidy were too convoluted, with opposition leader Andrew Scheer saying the party would continue to call for changes to “make sure no one falls through the cracks.” The Bloc Quebecois backed the bill, with House leader Alain Therrien noting the proposed measures fell in line with the Bloc’s prior demands.Despite calls from the tech community to look at other measures of how companies had been impacted by COVID-19, under the new legislation, companies must still have some form of revenue in order to qualify for the CEWS, meaning pre-revenue tech startups will continue to be ineligible.

In addition to the 75% wage subsidy, if you have laid off your employees with pay - essentially having them stay at home receiving pay but not working, the government announced that you can receive a 100% rebate of the employers portion of CPP and EI paid.

The Liberal Party of Canada’s proposed changes to the Canada Emergency Wage Subsidy (CEWS) passed in the Senate Monday. The new changes Major changes include a deadline extension of the CEWS to the end of the year and a new sliding scale for businesses to show revenue decline.The new bill, C-20, passed in the House of Commons on Tuesday at third reading, four days after the federal government noted the changes it would propose to the CEWS program, which is aimed to re-hire workers who lost employment as a result of the COVID-19 pandemic.

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