‘As of today, more eligible employers can apply to receive funding’
The Canada Revenue Agency has opened applications for Period 5 – the first period of the enhanced Canada Emergency Wage Subsidy (CEWS) program.
The program was created to assist businesses affected by the COVID19 pandemic in keeping workers on their payroll or bringing back previously laid-off employees. Program changes for Periods 5-9 include:
- the extension of the CEWS, including redesigned program details, until Nov. 21, 2020
- increased eligibility, meaning that all eligible employers who've experienced a revenue drop can now qualify for a base subsidy. The subsidy amount is based on the revenue drop.
- employers who are especially hard-hit can qualify for a top-up of up to 25 per cent
- certainty for employers that have already made business decisions for July and August, by ensuring they will not receive a subsidy rate lower than they would have under the previous rules.
“The government has made significant enhancements to the Canada Emergency Wage Subsidy by incorporating user and stakeholder feedback. As of today, more eligible employers can apply to receive funding. I encourage any employer who is struggling because of COVID19 to use the CRA's CEWS calculator to see what kind of subsidy they could qualify for," says Diane Lebouthillier, minister of national revenue.
But the changes to the CEWS have been met with concern by experts when it comes to complexity and risks.
Eligible employers can apply for period 5 of the CEWS through My Business Account or through the CRA's web form application. The government added that it has added new security measures to the My Business Account portal following the recent cyber attack.
The government has also released an updated CEWS calculator to help employers with the process.
The CEWS has provided $26.58 billion in subsidies to more than 275,000 employers, supporting millions of workers.
