CRA launches wage subsidy calculator for employers

By Staff | April 21, 2020 | Last updated on April 21, 2020
1 min read

Business owners who plan to apply for the Canada Emergency Wage Subsidy (CEWS) have a new tool to help them calculate the amount they’ll be eligible for and preview their subsidy claims.

The wage subsidy helps cover payroll costs by providing eligible employers with 75% of wages up to $847 per employee per week, for up to 12 weeks. The measure aims to prevent job losses during the pandemic and encourages employers to re-hire workers who were previously laid off.

On Tuesday, the Canada Revenue Agency (CRA) launched the CEWS calculator for employers, available on the agency’s CEWS webpage.

The calculator includes a printable statement feature that can be used to view a wage subsidy claim and to enter the required information into the CEWS application form.

Applications for the subsidy open on April 27 through CRA’s My Business Account or Represent a Client.

In addition to the calculator, the CEWS webpage includes instructions about who can apply for the subsidy and how eligibility is assessed.

A series of information sessions on the wage subsidy will be held “in the coming days” to provide a forum for eligible employers, the CRA said in a release.

CEWS claims will be subject to verification by the CRA and funds for approved applications will begin to be released on May 5, the release said. staff


The staff of have been covering news for financial advisors since 1998.