Businesses and entrepreneurs will be able to take advantage of Canada’s Emergency Wage Subsidy program starting on Monday.
Prime Minister Justin Trudeau said the fund is for small and large businesses and there is no minimum employee requirement.
Qualifying employers will be able to access up to $847, per employee, each week, to keep them on the payroll.
CRA launched the Canada Emergency Wage Subsidy calculator today to help employers determine what they can expect to claim. #CEWS #CdnTax #COVID19 https://t.co/tKV6D1jTKT
— GC Newsroom (@NewsroomGC) April 21, 2020
Trudeau said the federal program helps retain workers and ensures they have a job to return to once the economy recovers from the COVID-19 pandemic.
Meantime, Trudeau notes the government has launched a new calculator on the Canadian Revenue Agency website so businesses can determine the amount they can expect to claim through the wage subsidy.
Once approved, the Prime Minister stresses it’s their goal to have the money in the hands of businesses as soon as possible but wasn’t able to provide an exact date.
