Beginning April 27, applications will be open for the CEWS.
- Most businesses may apply using My Business Account
- If you need our help to apply, we can assist you through our Represent a Client access portal
- Alternatively, you may apply using a separate online application form (available April 27)
This subsidy will be processed at the payroll program (RP) account level, so you will have to file a separate application for each RP (payroll) account.
Register now for CRA’s My Business Account if you are not already signed up. This will ensure that you can apply as soon as applications open.
If you are unable to register for My Business Account, make sure you have an online web access code so you are prepared to use the alternative application. Make sure your business details and direct deposit information for your payroll accounts (RP) are up to date. This will ensure that any payments to you will be processed quickly and easily.
The subsidy generally covers 75% of an employee’s wages – up to $847 per week – for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15% in March, and 30% in April and May. Businesses can elect to use the “cash basis” metric for assessing the drop in revenue. This means that if your sales have not gone down, but your collection of payments has dropped below these thresholds (in a month over month comparison), you can still qualify.
The program will be in place for a 12-week period, from March 15 to June 6, 2020.
Employers who are eligible for the CEWS are entitled to receive a 100% refund for certain employer contributions to Employment Insurance, the Canada Pension Plan, the Quebec Pension Plan, and the Quebec Parental Insurance Plan paid in respect of employees who are on leave with pay.
For employers that are eligible for both the CEWS and the 10% Temporary Wage Subsidy for a period, any benefit from the Temporary 10% Wage Subsidy for remuneration paid in a specific period will generally reduce the amount available to be claimed under the CEWS in that same period.
Your HS & Partners Team