Canada Emergency Wage Subsidy Calculator
On August 11, 2020, the Honourable Diane Lebouthillier, Minister of National Revenue, launched an updated and improved Canada Emergency Wage Subsidy online calculator. This will help small and large employers prepare to apply for the next period of the CEWS program. The CRA opened applications for CEWS Period 5 on August 17, 2020. Enhancements to the program, which are being introduced in Period 5, will include expanding eligibility criteria, introducing a sliding revenue-decline test to determine the subsidy amount, and providing a top-up subsidy for the most impacted employers.
The CEWS calculator can be found here on the CRA’s Canada Emergency Wage Subsidy web page, which includes 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. Employers can enter information about their business situation to obtain an estimate of the subsidy they can expect to receive.
You can also click here to access a third party wage subsidy calculator.
If you have any questions about how the new Wage Subsidy or Top-Up Subsidy may impact you or your business, please be sure to contact us!