UPDATE COVID-19: FEDERAL GOVERNMENT ANNOUNCES NEW CANADA EMERGENCY WAGE SUBSIDY FOR EMPLOYERS – NOW WITH MORE (BUT NOT ALL) DETAILS
Last week the government of Canada announced that it will offer a wage subsidy of up to 75% for qualifying businesses, backdated to March 15, 2020. You can read CCPartners’ blog on that announcement here. At first we thought this was a substantial increase from the 10% federal wage subsidy for small businesses introduced previously, and a welcome expansion to the previously announced subsidy only for small and medium businesses (undefined). However, it now appears that the Canada Emergency Wage Subsidy is an additional subsidy accessible for employers. Some details remain unannounced, but now we have somewhat of a clearer picture – pending legislation actually being passed.