By Staff The Canadian Press
Posted August 11, 2020 3:15 pm
Updated August 11, 2020 3:38 pm
2:18 Coronavirus: Heated debate in Parliament as Liberals look to extend wage subsidy programA heated debate in Ottawa over financial support for Canadians struggling in the midst of COVID-19. While both sides of the aisle found common ground on assistance for people with disabilities, As Abigail Bimman reports, there are still deep divisions over changes to the emergency wage subsidy.
The federal government has launched an updated calculator to help employers estimate what help they might receive from the next phase of the Canada Emergency Wage Subsidy.
The calculator opened today on the CEWS website ahead of the opening of applications next Monday.
Employers enter information about their business situation to get an estimate of the subsidy they can expect to receive as they struggle to deal with the effects of the COVID-19 pandemic.
Canada Revenue Agency says knowing the amount will help companies to make informed decisions about retaining or re-hiring workers. A series of information sessions will be held in the coming weeks.
2:41 Coronavirus: Canada to extend emergency wage subsidy program into DecemberCoronavirus: Canada to extend emergency wage subsidy program into December
Enhancements to the program include expanding eligibility criteria, introducing a sliding revenue-decline test to determine the subsidy amount, and a top-up subsidy for the most impacted employers.
Story continues below advertisement
Employers can expect to receive their payment within three to five business days after applying if they are registered with direct deposit on their payroll account.
[ Sign up for our Health IQ newsletter for the latest coronavirus updates ]
“The Canada Emergency Wage Subsidy has enabled employers across the country to keep or re-hire millions of Canadians. The enhanced CEWS program launched today was redesigned to be more flexible and support a wider range of employers,” stated National Revenue Minister Diane Lebouthillier.
The program has provided $26.58 billion in subsidies to more than 275,000 employers.View link »
© 2020 The Canadian Press