Certain employers may now be able to receive additional funds under the Canada Emergency Wage Subsidy (CEWS) for the next several months
Certain employers may now be able to receive additional funds under the Canada Emergency Wage Subsidy (CEWS) for the next several months. The government announced new aspects of its plan to bolster Canada's economic recovery following the COVID-19 pandemic on October 9, 2020, including that it will maintain the current CEWS rate of up to a maximum of 65% of eligible wages until December 19, 2020 (previously, this rate was scheduled to go down to a maximum of 45% effective October 25, 2020), and confirmed that the subsidy would remain in place until June 2021. In addition, the government introduced a new Canada Emergency Rent Subsidy and a top-up Canada Emergency Rent Subsidy, and announced it would expand the Canada Emergency Business Account (CEBA).
Download this edition of the TaxNewsFlash to learn more.
© 2020 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.