Wage Subsidy

The Canada Emergency Response Benefit application will be available Monday April 6, 2020.  Government of Canada is asking however that Canadians apply on a certain date according to when your birthday month is.  

The application will be available online Monday April 6, 2020 and through a toll free number as well.

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This was following meeting with the G20 and realizing the support other countries were providing small businesses.

It was stated that the government will cover up to 75% CCPS`s, as well as charities and not for profits.

As of now we know the following is the criteria:

• 30% decrease in revenue in comparison to the same time 12 months ago for the months of March, April and May
• An application must be made each month for March, April and May.  All three months application cannot be made at the same time
• Employees must verify that everything possible is being done to pay the balance of the 25% employee wage

This will accomplish two things.  Gives the Employee some job security knowing that the business still plans to be there when times become normal.  It will also take the strain off the system having less people apply for Employment Insurance.  

Applications are not yet ready online.  Once online it was indicated that funds would be available in 6 weeks time.  This is not a program to take advantage of.  There will be severe penalties if the program is taken advantage of and I am sure that CRA will be auditing business over the next year who participate.