NEW 75% EMERGENCY WAGE SUBSIDY UPDATE

Emergency Wage Subsidy

The emergency wage subsidy is a separate program from the 10% subsidy previously announced.

 

For employers that are eligible for both the Canada Emergency Wage Subsidy and the 10 per cent wage subsidy for a period, any benefit from the 10 per cent wage subsidy for remuneration paid in a specific period would generally reduce the amount available to be claimed under the Canada Emergency Wage Subsidy in that same period. 

How much?

  • 75 per cent of the first $58,700 normally earned by employees – up to $847 per week.

How long?

  • The program would be in place for a 12-week period, from March 15 to June 6, 2020

Who is eligible?

  • Employers who suffer a drop in gross revenues of at least 15 per cent in March, and 30% in April or May, when compared to the same month in 2019 or previous 2 months, would be able to access the subsidy (ie. March 2019 vs March 2020)

  • If you are a new corporation in which the year over year comparison is not possible. other metrics like prior 1-2 months may be used. Details on this is still be worked through by the government. 

  • Eligible employers would include employers of all sizes and across all sectors of the economy, with the exception of public sector entities

  • For non-profit organizations and registered charities similarly affected by a loss of revenue, the government will continue to work with the sector to ensure the definition of revenue is appropriate.

  • All employers would be expected to at least make best efforts to top up salaries to 100% of the maximum wages covered.

How can I get it?

  • Eligible employers would be able to access the Canada Emergency Wage Subsidy by applying through a Canada Revenue Agency online portal.

  • Portal will be available for applications in 3-6 weeks. Payments/Funds will be available in 6 weeks. 

  • We recommend everyone to set up direct deposit on their CRA account 

*Those organizations that do not qualify for the Canada Emergency Wage Subsidy may continue to qualify for the previously announced wage subsidy of 10 per cent of remuneration paid from March 18 to before June 20, up to a maximum subsidy of $1,375 per employee and $25,000 per employer. See more details on this in our previous update here 

*Employees that receive this subsidy will not be able to receive the CERB

 모든 사업체 및 NPO, CHARITY 에 적용되는 NEW WAGE SUBSIDY PROGRAM 

이 프로그램은 전에 발표됬던 Small Business 에 적용하는 10% 섭시디 프로그램이랑 다른 프로그램입니다. 둘다 해당이 된다면 75% 신청 승인이 될경우 75%에서 10%이미 받은 금액이 줄여질겁니다. 

 

How much?

  • 75% of first $58,700/employee($44,025), 종업원당 1주일 최대금액 $847($44,025/52 주) 

 

How long?

  • 12주 - 해당되는 기간은 March 15 to June 6, 2020 

 

Who is eligible?

  • 총매출 3월에  15%, 4,5월은 30%  떨어진 고용주는 해당이된다. 계산방법은 전년도 같은 달을 비교 OR 전두달을 비교하여 계산을할수있다

  • 신규 비즈니스일 경우 전년도랑 비교할수있는 방법이없으니, 다른 방법이 쓰이게 될것이다. 예를 들어 1-2달전과 매출 비교. 이런 비즈니스에대한 더 자세한 디테일은 더나올거라 발표가 되었습니다. 중요한점은 신규라고 이 섭시디를 못받는건 아닙니다.    

  • 스몰비즈니스, Non-small business, charity, NPO 다 해당이된다  

  • 고용주는 나머지 25% 줄수있는 능력이 있어야 하고 직원에게 PAY 하여야 한다

 

How can I get it?

  • CRA My business account 로 신청이 가능할것입니다(미리 account 를 개설하세요)

  • 신청은 3-6주안에 열리나 돈은 6주를 기다려야 받을수있다 

  • 모두다 My Account 에 Direct Deposit 미리 Set up 하는것을 추천합니다  

 

*30% 이상 매출감소가 안된 사업체는 계속 전에 발표가되었던 10% 섭시디를 받을수있다  전에 업데이트 된 공지사항을 봐주세요 here 

* Fraud 가 있을 경우 심각한 penalty 를 부과한다고 하니 정확하게 모든 자료를 준비하여 주세요.(실제로 payroll 을 하여야 하고, 종업원에게 돈을 지급하여야 하고, 매출이 30% 이상 감소한 것을 입증하여야 합니다.)

   * 본 프로그램을 신청한 사업체는 종업원 및 고용주는 별도 CERB를 신청하지 못합니다.

PARK & COMPANY

Suite 300 4838 Richard Road SW Calgary, AB | 403 252 1588 | tax@parkcompany.ca