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Wage Subsidy Programs for Businesses
Wage Subsidy Programs for Businesses

Federal Govt. Wage Subsidy Programs Available for Businesses

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Written by Joel Gomes
Updated over a week ago

There are 2 Federal Govt. sponsored wage subsidy programs currently available for businesses:  

The Temporary Wage Subsidy – This is the 10% program – Runs for 14 weeks from March 18, 2020 to June 19, 2020 - provides up to $1,375 for each eligible employee, to a max of $25,000 total per employer – Once businesses have calculated their subsidy, they can reduce their current payroll remittance of federal, provincial, or territorial income tax that they send to the Canada Revenue Agency (CRA) by the amount of the subsidy - More info on this program is available here - https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/frequently-asked-questions-wage-subsidy-small-businesses.html#h1

The Canada Emergency Wage Subsidy – This is the 75% program – Runs for up to 12 weeks, retroactive to March 15, 2020 – Businesses can apply through their CRA  "My Business Account" login - More info on this program is available here - https://www.canada.ca/en/department-finance/economic-response-plan/wage-subsidy.html

(Interaction with 10 % Wage Subsidy - On March 18, 2020, the Prime Minister announced a temporary 10 per cent wage subsidy. For employers that are eligible for both the Canada Emergency Wage Subsidy and the 10 per cent wage subsidy for a period, any benefit from the 10 per cent wage subsidy for remuneration paid in a specific period would generally reduce the amount available to be claimed under the Canada Emergency Wage Subsidy in that same period.)

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