SUBSCRIBE | EXPAND | HOME | QUARTERLY

Posted Thursday July 23, 2020


___________________________
CEWS

Canada Further Extends and Expands Wage Subsidy

Certain employers may now be able to receive the Canada Emergency Wage Subsidy for an extended period of time. The government said it would extend the deadline until December 19, 2020, although it only provided details to November 21, 2020. The government also proposed other new changes to the wage subsidy on July 17, 2020, including new measures to expand the eligibility to employers who do not meet the previous 30% revenue threshold and to replace the subsidy with a new two-part subsidy consisting of a “base” and “top-up” amount.

Under the new rules, the amount of the wage subsidy an eligible employer could qualify for would vary depending on their revenue decline, with a maximum combined subsidy of up to 85% of eligible remuneration. These proposals are based on feedback received from a recent public consultation on the subsidy, and are generally intended to apply beginning with the current July reporting period.

The draft legislation also contains new changes that provide continuity rules for employers that have recently purchased assets of a business, provide an appeal process for the wage subsidy and extend the subsidy application deadline. The legislative proposals also include previously announced measures for the subsidy affecting employers with a paymaster arrangement, amalgamated corporations, tax exempt trusts and seasonal employees. The draft legislation further includes previously tabled measures to allow the government to temporarily extend or suspend certain federal statutory deadlines and time limits up to December 31, 2020.

Source KPMG










exchangemagazine.com is distributed twice weekly; Tuesday and Thursday


Not a Subscriber? Receive more articles on business issues
Sent directly to your email in-box.


contact us

Publisher is Exchange Business Communication Inc.
Email Publisher

ISSN 0824-45
Copyright, 2020

Share Your Story: pressrelease @ exchangemagazine.com
Expand Your Reach:
advertise @ exchangemagazine.com
Publisher: Exchange Business Communication Inc., PO Box 248, Waterloo, Ontario, Canada
Email Editor

Content published on this site represents the opinion of the individual, organization and/or source provider. Exchangemagazine.com is a online daily journal of Exchange Business Communication Inc. (1997) Publishers of Exchange Magazine est. 1983. Privacy Policy. Copyright of Exchange produced editorial is the copyright of Exchange Business Communications Inc. 2020. Submitted editorials, comments and releases are copyright of respective source(s).