Extended 75% wage subsidy — 30% revenue decline for June
Extended 75% wage subsidy — 30% revenue decline in June
Employers that experience a 30% decline in revenue in June 2020 will be eligible for the 75% Canada Emergency Wage Subsidy.
Employers that experience a 30% decline in revenue in June 2020 will be eligible for the 75% Canada Emergency Wage Subsidy during the related claim period. Following the government's announcement that the subsidy would be extended to August 29, 2020, the CRA has now confirmed that the subsidy will maintain the 30% revenue drop threshold for the current June 2020 period, which relates to the period from June 7 to July 4, 2020. The CRA notes that further changes to the subsidy, including changes to this threshold, would only commence for later claim periods. Finance recently completed a public consultation on the 75% Canada Emergency Wage Subsidy and is expected to introduce changes to the revenue decline threshold for the remaining claim periods soon.
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