On Monday, April 27th the Canada Revenue Agency will start accepting applications for the Canada Emergency Wage Subsidy (CEWS) and has set up the CRA gateway to walk you through the eligibility rules and benefit calculations. We’re here to assist you through the process. In the past weeks after the legislation received Royal Assent, we’ve helped many clients to interpret the eligibility criteria for revenues and employment, and decide which option to use as a base for comparing current revenue (i.e. prior year months, or the average of January and February 2020).
Once you’ve determined that your business is eligible, the next step is to compile the information to be submitted to the Canada Revenue Agency in respect of eligible employees’ payroll for the subsidy period. To complete the application, you will need to provide information about the number of eligible employees, eligible remuneration paid to these employees and the amount calculated for the CEWS. The CRA gateway includes an Excel calculator that you can use to calculate the estimated subsidy.
You can apply using your My Business Account, or through our firm as your authorized representative.
Read our previous article which details the specifics of the CEWS, and reach out to us if you would like assistance in determining eligibility, preparing the calculations and completing the online application.
The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Accordingly, the information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. While we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Again, no one should act upon any information contained herein without seeking appropriate professional advice after a thorough examination of their particular situation.
The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity.
Accordingly, the information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers.
While we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.
Again, no one should act upon any information contained herein without seeking appropriate professional advice after a thorough examination of their particular situation.
