The wage subsidy program is designed to help you prevent laying off your employees, or even hire them back if you have already had to lay them off. The government has been encouraging employeers to access this wage subsidy and retain their employees rather than go to layoffs whenever possible. The new Canada Emergency Wage Subsidy (CEWS) provides a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020.
To be eligible to access this wage subsidy you must:
Eligible employers includes any ONE (1) of the following:
- taxable corporations
- partnerships consisting of eligible employers, non‑profit organizations and registered charities.
AND the business MUST:
- Those that see a drop of at least 15% of their revenue in March 2020 and 30% for the following months (see Eligible Periods).
- If you have been impacted by COVID changes then please visit the Government website and read closely. There are a number of ways to calculate the 15% or 30% revenue decrease
- Non-profits may choose whether or not to include government funding sources in their calculations.
This program is a great opportunity to hold onto valuable employees during these challenging times. This program could benefit both businesses and staff.
More details & How To Apply are available here: