On July 17, 2020, the Canadian federal government announced the expansion and extension of the Canada Emergency Wage Subsidy (CEWS) program.
Among the proposed changes, as of July 5, 2020, any business, charity and not-for-profit organization in Canada that has experienced a decline in “qualifying revenue” will be entitled to a subsidy.
The CEWS has been further extended to June 2021, including changes to the rates and top-up calculation.
Changes to CEWS as of November 19, 2020 (Bill C-9):
- the subsidy is extended to June 2021
- the maximum subsidy rate for periods 8 to 10 will remain at 65% (40% base rate + 25% top-up)
- beginning in period 8, the top-up rate and base rate are is now calculated using the same one-month revenue drop
- for periods 8 to 10, use the new top-up calculation or the previous 3-month average drop, whichever works in your favour
- the deadline to apply is January 31, 2021, or 180 days after the end of the claim period, whichever comes later
- starting in period 9, the calculation for employees on leave with pay now aligns better with EI benefits
- you can now calculate pre-crisis pay (baseline remuneration) for employees who were on certain kinds of leave, retroactive to period 5
- the Canada Emergency Rent Subsidy (CERS) has been introduced for businesses, non-profits, and charities
CEWS CALCULATOR https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy/cews-calculate-subsidy-amount.html
https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy/cews-calculate-subsidy-amount.html
HOW GHi can help
To get free consultation on CEWS email us info@ghiprofessionals.com or call at 431 887 4148.
