• CRA News Release on Update Canada Emergency Wage Subsidy: 8/11/2020

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    August 11, 2020
     News Release by Revenue Canada

    English version ***La version française suit***
    Calculate your subsidy using the updated and improved Canada Emergency Wage Subsidy (CEWS) calculator
    The Canada Emergency Wage Subsidy (CEWS) helps employers who have been impacted by the COVID-19 pandemic to keep workers on their payroll or bring back previously laid-off employees. To ensure that Canadian workers and businesses are in a better position as our economy safely re-opens, the Government has recently implemented changes to the CEWS that broaden the reach of the program and provide better targeted support.
    The CEWS is in place to help workers transition back to their jobs and to support employers as they increase their revenues. The CRA is committed to providing employers – including employers who can now benefit as a result of the enhanced CEWS – with the information and resources they need to apply and benefit from this important economic measure.
    The new CEWS online calculator
    The CRA launched an updated and improved CEWS online calculator to help small and large employers alike prepare to apply for the next phase of the CEWS program, which will open for applications on August 17, 2020.
    The CEWS calculator can be found on the CRA’s updated Canada Emergency Wage Subsidy web page, which includes detailed information to help employers understand how the CEWS can support their employees and operations, who is eligible to apply, and how claim periods are structured.
    The calculator uses a step-by-step process to invite employers to enter information about their business situation and then provides an estimate of the subsidy they can expect to receive.
    It also includes a printable spreadsheet and statement features that employers can use to view their claim at a glance and enter required information into the CEWS application form quickly and easily.
    By providing employers with detailed information about their subsidy claim, the CEWS calculator can assist them in making informed decisions about retaining or re-hiring workers.
    Calculating the new CEWS
    Effective as of period 5 (July 5, 2020 to August 1, 2020), the CEWS will include:
    •         A base subsidy for all eligible employers that are experiencing a drop in revenues, with the subsidy amount varying depending on the scale of revenue drop; and
    •         A top-up subsidy of up to an additional 25%, providing a total subsidy of up to 85%, for those employers that have been most adversely affected by the COVID-19 crisis.
    For more information, go to How the revenue drop and subsidy rate are calculated.
    Period 5 applications
    The CRA will open applications for CEWS Period 5 on August 17, 2020.
    Newly eligible employers should sign up for My Business Account or Represent a Client (for tax preparers) as well as enroll their payroll account for direct deposit to get their payments faster, once the claim period opens.
    You can generally expect to receive your payment within 3 to 5 business days of applying if you are registered for direct deposit on your payroll account.
    Stakeholder engagement
    We will conduct a series of Q&A sessions in the coming weeks to provide a forum for eligible employers and stakeholder organizations to share their views and have their questions answered.
    Additional resources – we can help
    •         Need to make a change? No problem – you can change a CEWS claim after you’ve submitted it using CRA’s My Business Account or Represent a Client.
    •         Still have questions? Call our dedicated CEWS line to speak with an agent about eligibility requirements, calculating your subsidy, or how to apply. Call us at 1-833-966-2099 – we can help!
    Infographics (see attachments to view)
    Resources for the CEWS and COVID-19 fiscal measures  
    Stay connected
    To receive updates on what is new at the Canada Revenue Agency (CRA), you can: ·        Follow the CRA on LinkedIn.