The Canadian government announces a 75% wage subsidy that meets requirements for up to three months, applied retroactively until March 15, 2020.
Canadian emergency wages benefits will be applied at 75% of the first $ 58,700 the employee usually receives, which is equivalent to compensation of $ 847 per week. There is no general limit to the amount of support that qualified employers can claim. However, regardless of the amount received by a qualified employer it will be considered taxable.
Canadian emergency wage subsidies will not be tied to a moratorium on hiring salary sources; this number will continue to be deducted from employee salaries and sent to the CRA.
Employers who meet the conditions for a reduction in total income of at least 15% in March and / or 30% in April or May, compared to the same month in 2019, or averages for January and February 2020, will be able to receive benefits. Each month it must be examined independently to determine if the business owner meets the requirements. If the employer has to re-apply for benefits every month, the earnings for this purpose come from companies managed by Canada and Canada that are obtained from the source of the arm’s length.
“Qualified Entrepreneurs” includes all entrepreneurs other than public sector entities, i.e. municipalities, regional governments, etc. This includes companies, partnerships, and sole proprietors, without the need for the entity to be private Canadian controlled firms eligible to reduce small businesses. Experiencing income losses will be assessed on a case-by-case basis.
The right of fully qualified employers to receive wage benefits will be based on the salary / wages actually paid to employees, and at least all employers are expected to do their best to increase the salary up to 100% of the maximum covered wage.
Subsidies will be accessed via registration via CRA onlinegate.
Entrepreneurs not eligible for benefits can continue to qualify for a 10% temporary wage support program, if possible, paid from March 18 to June 20, up to a maximum support limit of $ 1,375 / employee and $ 25,000 / employer .
The business owner has no right to claim payment of benefits to employees who have not been paid for more than 14 consecutive days in the eligibility period (4-week period).
Penalties may be applied in the case of fraudulent claims. Anti-abuse regulations will be proposed to ensure that support is not obtained incorrectly and to ensure that employees pay the amount due to them.
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