The Government of Canada has many options out there for businesses affected by Covid-19. For businesses still open and who have employees there are a few options to avoid layoffs.
The main one is the CEWS (Canada Emergency Wage Subsidy). This subsidy generally covers 75% of an employee’s wage up to $847 per week. The program is in place for 12 weeks, from March 15 to June 6, 2020.
There is also a temporary 10% wage subsidy which is a three-month measure that will allow eligible employers to reduce the amount of payroll deduction required to be remitted to the CRA. You may be eligible for both the 10% wage subsidy and the CEWS. “Any benefit from the Temporary 10% Wage Subsidy for remuneration paid in a specific period will generally reduce the amount available to be claimed under the CEWS in that same period.” - Government of Canada Website.
Please note that you can be eligible for CTWS and not be eligible for CEWS but if you qualify for CEWS you will also qualify for CTWS.
The Government of Canada’s website also has many options for businesses trying to access credit or trying to have payments deferred. You can find more information regarding these types of help here: https://www.canada.ca/en/department-finance/economic-response-plan.html
We are here to help you apply for any of the available programs – arrange an appointment or send us a message through CONTACT US.