Update on Canada Emergency Wage Subsidy (CEWS) and Other Programs – April 22, 2020
Canada Emergency Wage Subsidy (CEWS) – update
On Tuesday, Prime Minister Trudeau announced that organizations will be able to apply online starting Monday, April 27th, 2020 for the Canada Emergency Wage Subsidy (CEWS). The applications will be first processed May 4th in bulk and payments are targeted to being on May 5th. Auditors have been assigned to manually review certain claims. Most claims will be automatically processed, however, claims made by larger employers are expected to be reviewed. Agents will also be assigned to answer questions on the programs.
We have summarized how the CEWS calculator information Here.
Please follow the link to the CEWS calculator provided by the Department of Finance.
- The Canada Emergency Business Account (CEBA) has been expanded to qualify organizations with 2019 payroll between $20,000 – $1,500,000 (originally $50,000 – $1,000,000).
- A new program, Canada Emergency Commercial Rent Assistance, is being developed to provide rental assistance to small business. Provincial collaboration is required and no details are available now.
- The Canada Emergency Response Benefit (CERB) has been modified to allow individuals to earn up to $1,000 per month while receiving CERB.
- On April 22nd, a new program was introduced, Canada Emergency Student Benefit (CESB), which will see eligible post secondary students receive $1,250 a month from May to August. College and university students currently in school, planning to start in September, or who graduated in December 2019 are eligible.As always, please do not hesitate to contact us with questions you may have.