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Canada extends 75% wage subsidy and refines eligibility

Canada extends 75% wage subsidy and refines eligibility

Certain employers will now be able to receive the 75% subsidy until August 29, 2020.

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Certain employers will now be able to receive the 75% Canada Emergency Wage Subsidy until August 29, 2020. In addition, the government announced it will broaden eligibility for the Canada Emergency Wage Subsidy to include additional partnerships and other organizations. The government has also proposed amendments to certain calculations to address amalgamations and seasonal workers. The government indicated that it intends to consult with Canadian businesses to consider further adjustments to eligibility for the subsidy, including possible changes to the 30% revenue decline threshold.

The 75% Canada Emergency Wage Subsidy is available to qualifying employers that have lost revenue during COVID-19 and generally provides an amount to employers equal to 75% of employees' remuneration paid, up to a maximum of $847 per week per employee, starting March 15, 2020. The subsidy was previously set to expire on June 6, 2020.

Download this edition of the TaxNewsFlash to learn more.

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