- The Canada Emergency Wage Subsidy will be offered for up to 3 months and back-dated to March 15.
- Businesses that see a decrease in revenues of 30% or more over last year will qualify regardless of number of employees.
- Decline in revenues will be compared to revenues received in the same month of the previous year (March, April, May).
- Businesses will be required to apply each month to receive the subsidy.
- The wage subsidy will cover 75% of the first $58,700 that Canadians earn, up to $847 a week.
- The program will be administered through a CRA Online Portal which will be operational in the next 3-5 weeks.
- Minister Morneau has also announced that funds will be available in approximately 6 weeks.
- The Government is also encouraging employers to do all that they can to pay the remaining 25% to employees; however the Minister noted that the program will be flexible and understands that not all businesses may be able to do so.
There will be more details to come on this program and how it will be administered in the coming weeks. The NGCOA Canada will continue to watch for new information and details and will share with you as soon as it is received.
The Government has announced that they are targeting April 6th as the date that they will begin receiving applications for the
Canada Emergency Response Benefit
. The Benefit will be delivered jointly by Service Canada and the Canada Revenue Agency (CRA) and you have the option to apply through one or the other but not both. If you have already applied to EI, you do not need to reapply.
Recommended steps to take to prepare to apply online include:
- Set up a CRA My Account if you do not already have one
- Set up direct deposit with CRA to speed up the delivery of your benefit; 3-5 days for payment with direct deposit versus 10 days by mail
CERB provides a taxable benefit of $2,000 a month for up to 4 months to eligible applicants.
