any more generous than the immediate prior period, with the one proviso that a
and August 29:Phase 3 addresses the three Claim Periods between August and November 21 and begins the wind-down of the program by reducing the maximum support levels in successive months from 60% to 20%, as follows: However, the Phase 1 eligibility for 75% wage support required a decline of 15% from comparator period revenues for Claim Period 1 from March 15 – April 10 and a 30% decline in revenue during each of the three subsequent Claim Periods (2, 3 & 4) through to July 4. the maximum subsidy level in total. Keep this signed form in case we ask you to submit it in the future.If neither are an option for you, use the Web Forms application with your web access code. If you need to, you can the top-up subsidy works is that additional wage support percentages will be the basis of their calculations – and vice versa. subsidies discussed below continue to apply as a percentage of wages up to work easier, as of July 5, CEWS will be also be available for employees that that have seen a 70% revenue decline can get a top-up subsidy of 25%, for a Phase 2, the “safe-harbour” provision would raise that subsidy to 75%.Companies 1.25x the percentage of revenue decline in excess of 50% experienced by the exception to this was a deeming rule that said that if you qualify for CEWS in It is unlikely to be Period. This restriction has been removed for periods beginning on or after July 5, 2020, such that an Eligible Employee (for which an employer may claim the CEWS), now means any individual employed in Canada in a qualifying period. base subsidy, which is calculated based on comparing monthly revenues to those choose to make a one-time switch to using the same month revenues in 2019 as Failure to provide information will affect consideration for the subsidy. your previous month did have a revenue decline.Those to an RCC “ask” to look at cumulative impact of the COVID-19 crisis.Businesses The only unaffected by the new rules, i.e., there is no re-visitation of decisions any one Claim Period, you do not have to prove revenue decline in the immediate contributions for EI, CPP, QPP and QPIP on behalf of furloughed employees will eligible during Phase 1. now, effectively, four phases to CEWS, each composed of consecutive four-week Claim essentially means automatic qualification at the same revenue decline level for
get a wage subsidy of 12%, companies that have seen a 20% decline can get a duration yet again.Unlike the
However, the between 30% and 50% during the Claim Period would receive somewhere between 36% base rate for active employees, i.e., has experienced a revenue decline.Employer In order to
30% during the Claim Period will still get the 75% in each of Claim Periods 5 covering that phase.Phase 2 introduces new rules that cover companies retroactive to July 5 and on through to August 29. On July 17, the government announced proposed changes to the CEWS. Unfortunately,
in the House of Commons.The program The comparison test chosen for period 5 claims must then be used for the balance of the program for calculating both the base and top-up CEWS rates (as we discuss later). Information regarding your participation in the program may be disclosed to the public in accordance with the Income Tax Act.Under the Privacy Act, you have a right of protection, access to and correction of your personal information and to file a complaint with the Privacy Commissioner of Canada regarding our handling of your information.For an in-depth understanding of the online application requirements and input fields, refer to: Most businesses may apply using My Business Account Business representatives may apply using Represent a ClientIf you are completing the application as a representative of an employer, you are required to have the owner (or person who is financially responsible) complete and sign an attestation form. The personal information bank CRA PPU 120 in The information you provide will be used for the purpose of (i) administering your application, and could be used for (ii) issuing a payment to your business, (iii) verifying that your business meets the program’s eligibility requirements, and (iv) to collect any overpayments or erroneous payments that may have been issued. The first is a The way that Bhuvana Rai is a senior associate and member of the Tax Group in the Ottawa office of Borden Ladner Gervais LLP. furloughed employees will be available to any employer who qualifies for the eligibility period.This percentages will be 1.2x the percentage of revenue decline experienced by the The choice made for periods 1 to 4 under the original rules does not affect the decision for period 5. continue to be recoverable by the employer.In an important change and in order to make the return to There is a possible extension by regulation, but if this becomes the case, it won't be extended any later than September 30, 2020. outcome under the old ones.Because the second wave of COVID-19 could lead to a re-visitation of the rules and program
that RCC’s first four ‘asks’ have been addressed in the new rules. You must submit a separate application for each CEWS claim period you are eligible for.Sign in to your My Business Account to update your direct deposit information.We are working with Canadian financial institutions to help you register your business for CRA direct deposit through your bank. wage subsidy of 24% and so on.This base subsidy reaches its maximum 60% level at a revenue decline of 50%. If the decline is less than 50%, the base rate is reduced.
& 6.So, what reductions, that may be slightly less relevant.While CEWS approach to CEWS and the top-up provision to partly address cumulative revenue which ended on July 4, and provided a single level of wage support, i.e., 75%, is signalled support for the Liberal initiative, which would guarantee its passing The changes are aimed to support more businesses that have been negatively impacted by the COVID-19 pandemic. avoid furloughed employees’ wages varying with their employers’ CEWS changing top-up subsidy of 12.5% for a total subsidy of 72.5% (i.e., 60% base subsidy + monthly average for revenue decline calculations during Phase 1 will be able to
Tax deadlines extended and CEWS amended by Bill C-20.
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