On May 8th, Prime Minister Justin Trudeau announced that they will extend the Canada Emergency Wage Subsidy (CEWS) beyond June. This measure gives qualifying employers up to $847 per employee each week so they can keep people on the payroll.
To be eligible to receive the wage subsidy, the Government of Canada website states you must:
be an eligible employer. Eligible employers include:
individuals (including trusts)
persons that are exempt from corporate tax (Part I of the Income Tax Act), other than public institutions:
boards of trade
chambers of commerce
non-profit corporations for scientific research and experimental development
labour organizations or societies
benevolent or fraternal benefit societies or orders
partnerships consisting of eligible employers
Public institutions are not eligible for the subsidy. This includes municipalities and local governments, Crown corporations, public universities, colleges, schools and hospitals.
have experienced an eligible reduction in revenue.
have had a CRA payroll account on March 15, 2020
The Canada Revenue Agency launched an online calculator to help businesses determine the amount they can expect from the wage subsidy program.
Established in 1992, our boutique style company is based on the relationships we form with you-our clients. With your input, we can create your very own customized products. Insurance can be a very daunting task, that’s why we work on your behalf to find the best insurance plan and financial options. At DPB we believe that our success lies in meeting and anticipating our clients’ needs while providing financial security and peace of mind in knowing that no matter what happens, you and your loved ones will be taken care of.