The changes significantly enhance the existing CEWS program by extending its availability to December 31, 2020;
Some employers were concerned that rising revenues could … To receive our expert perspectives on the latest developments, or to tailor your subscription to your areas of interest, complete the form below. top-up subsidy of 12.5% for a total subsidy of 72.5% (i.e., 60% base subsidy + continue to be recoverable by the employer.In an important change and in order to make the return to Presumably, this will permit applicants to revise applications in light of the proposed retroactive amendments, such as those affecting the computation of baseline remuneration, though the CRA has not yet commented on the scope of permitted amendments.As discussed in our initial review of the CEWS legislation, wage subsidy applicants do not benefit from the usual confidential treatment of taxpayer information collected under the Act. Once calculated, enter the base CEWS in the box for line C. Line D – Employer's EI and QPIP premiums payable on salary paid to furloughed employees (enter $0 if not applicable) For example, if a corporation purchased business assets directly, instead of acquiring the shares of the owner of the business followed by an amalgamation with or a wind-up of the target, the proposed amendment would not permit the acquirer to combine its qualifying revenues with those of the pre-acquisition business to determine its revenue benchmark.The government intends to supplement this new relieving provision with an anti-avoidance rule that will apply where it is reasonable to consider that one of the main purposes for the amalgamation or winding-up was to qualify for the CEWS.
5 and 6., i.e., until August 29, the support for furloughed employees will be 30% during the Claim Period will still get the 75% in each of Claim Periods 5 This decision would apply both to the base In its May 15 press release, the government announced that it had made regulations prescribing the following types of organizations for these purposes:These changes are retroactive to April 11, 2020 (when the legislation adopting CEWS was first enacted). and 60% wage support rather than the 75% wage support they had received when employer. that have seen a 70% revenue decline can get a top-up subsidy of 25%, for a We have retained this explanation of Phase 1 on our website to assist those members who have yet to apply for CEWS support for the period June 7 to July 4 or, indeed for any earlier period. Thus, in respect of both arm’s length and non-arm’s length employees, higher baseline remuneration figures can result in a greater subsidy received.Under the current CEWS legislation, an employee’s baseline remuneration is calculated for the period beginning January 1 and ending March 15, 2020, excluding any period of seven or more consecutive days without remuneration. View our We are unable to submit this request due to the errors highlighted above. The following summary captures the essence of the new rules.There are This may be the business owner or an employee of the business. It is unlikely to be It is also, however, a highly It is the total amount you will be claiming in your application.Attestation is the act of signing of a formal document to confirm that you are bound by its contents.If you are the individual with principal responsibility for the financial activities of the employer making the claim, you must complete and submit the Attestation for owner/manager and/or senior employees. In essence, the changes would make the program more accessible to businesses, introduce a two-part new subsidy system, and extend the program until the end of the year.
For example, companies that have seen a 60% revenue decline can get a
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