On April 21st, Prime Minister Justin Trudeau announced that the Canada Revenue Agency will accept applications for the Canada Emergency Wage Subsidy (CEWS) starting Monday, April 27th. This new 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)
taxable corporations
persons that are exempt from corporate tax (Part I of the Income Tax Act), other than public institutions:
non-profit organizations
agricultural organizations
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
registered charities
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.
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Mutual funds and/or approved exempt market products are offered through Investia Financial Services Inc.
