The federal government has implemented changes to the Canada Emergency Wage Subsidy (CEWS) that broaden the reach of the program and provide better targeted support.
An updated calculator has been launched to help employers estimate what help they might receive from the next CEWS phase. It will help small and large employers alike prepare to apply for the next period of the CEWS program, which will open for applications on August 17, 2020.
The CEWS calculator can be found on the CRA’s Canada Emergency Wage Subsidy web page, which includes detailed information to help employers understand how the CEWS can support their employees and operations, who is eligible to apply, and how claim periods are structured. The calculator uses a step-by-step approach to get employers to enter information about their business situation to provide an estimate of the subsidy they can expect to receive.
The calculator also includes printable spreadsheet and statement features that employers can use to view their claim at a glance and enter required information into the CEWS application form quickly and easily.
By providing employers with detailed information about their subsidy claim, the CEWS calculator can assist them in making informed decisions about retaining or re-hiring workers. The CRA will conduct a series of information sessions in the coming weeks for eligible employers and stakeholder organizations.
Enhancements to the program include expanding eligibility criteria, introducing a sliding revenue-decline test to determine the subsidy amount, and providing a top-up subsidy for the most impacted employers. Employers can expect to receive their payment within three to five business days after applying if they are registered with direct deposit on their payroll account.
“The Canada Emergency Wage Subsidy has enabled employers across the country to keep or rehire millions of Canadians. The enhanced CEWS program launched today was redesigned to be more flexible and support a wider range of employers,” stated National Revenue Minister Diane Lebouthillier.
The program has provided $26.58 billion in subsidies to more than 275,000 employers.