Revenue Canada Launches Emergency Wage Subsidy Calculator. 75% Wage Subsidy Of Up To $847 Per Employee
Today Minister of National Revenue Diane Lebouthillier launched the Canada Emergency Wage Subsidy calculator to support employers as they prepare to apply for the CEWS.
The calculator is to help employers keep and re-hire workers amidst the challenges posed by the COVID-19 pandemic. In addition, the Government is implementing the Canada Emergency Wage Subsidy (CEWS).
This measure provides a 75% wage subsidy of up to $847 per employee per week, to eligible employers, for up to 12 weeks, preventing further job losses and encouraging employers to re-hire workers previously laid off as a result of COVID-19, retroactive to March 15, 2020.
The CEWS calculator can be found on CRA’s Canada Emergency Wage Subsidy Web page.
“The Canada Revenue Agency has a proven track record of delivering benefits to millions of Canadians every year. Following on the successful delivery of Canada Emergency Response Benefit payments to millions of Canadians, I am confident in the CRA’s ability to administer this critical fiscal measure that will provide urgently-needed support for Canadian employers and workers. Launching the CEWS calculator is an important first step to ensuring employers are equipped to apply for the subsidy.”
The Honourable Diane Lebouthillier, Minister of National Revenue
The calculator also includes a printable statement feature that employers can use to view their claim at a glance and, as of April 27, enter required information into the CEWS application form quickly and easily.
Employers are also encouraged to sign up for My Business Account or Represent a Client, as employers will be able to apply through these portals. The CRA will open the application process on April 27, 2020. CEWS claims will be subject to verification by the CRA. Funds for approved applications will begin to be released on May 5.