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COVID-19: Canada Emergency Wage Benefit Announcement

Posted on April 1, 2020 by News

Prime Minister Trudeau announced the Canada Emergency Wage Benefit on March 30, 2020. While we are pending the technical details and roll-out of the program, here is an overview of the details we know so far:

  • It is open to corporations, businesses, partnerships and non-profits – no matter how large or small
  • Your business must have seen a revenue reduction of 30% due to COVID-19
  • The benefit will cover up to 75% of workers’ salaries on the first $58,700 earned annually
  • The maximum benefit will be $847 per week, per worker
  • The subsidy will be backdated to March 15
  • This benefit will be available for at least three months
  • It will take time for this money to reach companies; in the meantime, there are business credit programs available (click here).

View original article here Source

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