The Canada Revenue Agency has opened applications for Period 5 of the Canada Emergency Wage Subsidy (CEWS) – the first period of the enhanced CEWS program.
In a release on Monday, Minister of National Revenue Diane Lebouthillier said the changes under the enhanced federal program include the following:
- The extension of the CEWS, including redesigned program details, until November 21, 2020.
- Increased eligibility, meaning that all eligible employers who’ve experienced a revenue drop can now qualify for a base subsidy. The subsidy amount is based on the revenue drop.
- Employers who are especially hard-hit can qualify for a top-up of up to 25%.
- More certainty for employers that have already made business decisions for July and August, by ensuring they will not receive a subsidy rate lower than they would have under the previous rules.
“The Canada Revenue Agency is here to help Canadian employers of all sizes in getting their employees back to work,” said Lebouthillier. “As of today, more eligible employers can apply to receive funding. I encourage any employer who is struggling because of COVID-19 to use the CRA’s CEWS calculator to see what kind of subsidy they could qualify for.”
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Eligible employers can apply for Period 5 of the CEWS through My Business Account or through the CRA’s online application. Those who have registered their business payroll accounts for direct deposit can generally expect to receive subsidy payments within three to five business days.
The government said that to date, the CEWS has provided $26.58 billion in subsidies to more than 275,000 employers, supporting millions of workers.
“The enhanced CEWS program launched today will benefit even more employers and workers, and the CRA is ensuring that the right tools and supports are in place to help employers access this important economic measure,” said Lebouthillier.