Canada: Emergency wage subsidy (75%) extended to 29 August 2020 (COVID-19)
Canada: Emergency wage subsidy (75%) extended
Certain employers will be able to receive the 75% Canada emergency wage subsidy until 29 August 2020.
The emergency wage subsidy—a temporary relief measure is available to qualifying employers that have lost revenue during the coronavirus (COVID-19) pandemic—generally provides an amount to employers equal to 75% of employees' remuneration paid, up to a maximum of $847* per week per employee, beginning 15 March 2020. The relief was previously set to expire on 6 June 2020. Read TaxNewsFlash
The government also announced:
- Broadened eligibility for the Canada emergency wage subsidy to include additional partnerships and other organizations
- Proposed amendments to certain calculations to address amalgamations and seasonal workers
- A consultation with Canadian businesses to consider further adjustments to eligibility for the subsidy, including possible changes to the 30% revenue decline threshold
Read a May 2020 report prepared by the KPMG member firm in Canada
*$ = Canadian dollar
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