Canada has announced details of the Canada Emergency Wage Subsidy to help businesses retain employees during the COVID-19 situation.
Canada has announced details of the Canada Emergency Wage Subsidy to help businesses retain employees during the COVID-19 situation. This temporary 12-week subsidy, which was further described by Finance Minister Bill Morneau on April 1, 2020, will generally provide an amount to employers equal to 75% of employees' remuneration paid, up to a maximum of $847 per week per employee. The subsidy is available for eligible employers that have lost at least 30% of revenue due to COVID-19, and will apply retroactively from March 15, 2020 to June 6, 2020. This measure is in addition to the previously enacted 10% temporary wage subsidy to help certain small businesses, which will still be available to eligible employers who do not qualify for the Canada Emergency Wage Subsidy.
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