Financial Drawing Board
  • HOME
  • ABOUT
    • ABOUT US
    • ABOUT FDB
    • OUR PROCESS
      • 6 Steps to Maximize Your Wealth Potential
      • Get out of Financial Confusion Video
      • Make Financial Decisions
      • Pathway to Success
      • Strategic Model
    • Privacy Policy and Websites Term of Use
    • Value of Advice
  • SERVICES
    • LIFE STAGES
      • Starting your career
      • Growing Families
      • Mature Families
      • Preparing for Retirement
      • Retirees
    • BUSINESS STAGES
      • Business Succession
      • Executive Benefits
      • Group Benefits
      • Tax-Effective Way to Hold and Distribute Assets?
    • Association Health and Dental
    • Individual Health
    • Travel Insurance
    • Get a Quote
  • BLOG
  • CALCULATORS
  • CONTACT

Extended! Canada Emergency Wage Subsidy extended beyond June

May 8, 20202020 Only, Blog, Business Owners, Coronavirus, Coronavirus - Practice OwnersEric Wachtel

On May 8th, Prime Minister Justin Trudeau announced that they will extend the Canada Emergency Wage Subsidy (CEWS) beyond June. This measure gives qualifying employers up to $847 per employee each week so they can keep people on the payroll.

Eligibility

To be eligible to receive the wage subsidy, the Government of Canada website states you must:

  • be an eligible employer. Eligible employers include:

    • individuals (including trusts)

    • taxable corporations

    • persons that are exempt from corporate tax (Part I of the Income Tax Act), other than public institutions:

      • non-profit organizations

      • agricultural organizations

      • boards of trade

      • chambers of commerce

      • non-profit corporations for scientific research and experimental development

      • labour organizations or societies

      • benevolent or fraternal benefit societies or orders

    • registered charities

    • partnerships consisting of eligible employers

    Public institutions are not eligible for the subsidy. This includes municipalities and local governments, Crown corporations, public universities, colleges, schools and hospitals.

  • have experienced an eligible reduction in revenue.

  • have had a CRA payroll account on March 15, 2020

Online Calculator

The Canada Revenue Agency launched an online calculator to help businesses determine the amount they can expect from the wage subsidy program.  

Check Eligibility
Calculate your Subsidy amount

Recent Posts

  • Extended COVID-19 Federal Emergency Benefits
  • Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients
  • Government of Canada to allow up to $400 for home office expenses
  • Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now
  • Applications for the new Canada Emergency Rent Subsidy starts today!

Categories

  • 2020
  • 2020 Only
  • Accountants
  • Blog
  • Business Owners
  • Business Owners
  • Coronavirus
  • Coronavirus – Associates
  • Coronavirus – Practice Owners
  • Coronavirus – Retired
  • Coronavirus – Retiring
  • Coronavirus – Students
  • corporate
  • Corporate Insurance
  • Debt
  • disability
  • Estate Planning
  • Family
  • Financial Planning
  • individuals
  • Investment
  • Ontario Only
  • RDSP
  • Retirement
  • tax
  • Tax Planning

Contact Us

Eric Wachtel
President

eric@financialdrawingboard.ca

Tel: 905 366 3866 ext. 3228 
Cell: 647-299-1102
  • LinkedIn

Mississauga Office:

5705 Cancross Ct Suite 200
Mississauga, Ontario
L5R 3E9

Markham Office

625 Cochrane Drive Suite 610
Markham, Ontario
L3R 9R9

Copyright © 2018 Eric Wachtel. Designed by Financial Tech Tools - All Rights Reserved.