Certain employers will be able to apply to receive the 75% Canada Emergency Wage Subsidy starting on April 27, 2020.
Certain employers will be able to apply to receive the 75% Canada Emergency Wage Subsidy starting on April 27, 2020. This temporary subsidy, which is available to qualifying employers that have lost revenue during COVID-19, generally provides an amount to employers equal to 75% of employees' remuneration paid, up to a maximum of $847 per week per employee, from March 15, 2020 to June 6, 2020. The CRA has announced that it is preparing to accept applications for this subsidy, and has provided additional guidance to help employers calculate their estimated subsidy and to complete and file their applications as of April 27, 2020. In addition, the CRA notes that employees who have been laid off or furloughed must be rehired and paid before they can be included in the subsidy calculation.
Download this edition of the TaxNewsFlash to learn more.
© 2021 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.