CRA launches updated CEWS calculator ahead of applications opening Monday

The federal government has launched an updated calculator to help employers estimate what help they might receive from the next phase of the Canada Emergency Wage Subsidy (CEWS).

The calculator opened today on the CEWS website ahead of the opening of applications next Monday.

Employers enter information about their business situation to get an estimate of the subsidy they can expect to receive as they struggle to deal with the effects of the Covid-19 pandemic.

Canada Revenue Agency says knowing the amount will help companies to make informed decisions about retaining or re-hiring workers. A series of information sessions will be held in the coming weeks.

Tax news website Video Tax News has also launched a free CEWS calculator in partnership with Punchcard Systems.

Enhancements to CEWs include expanding eligibility criteria, introducing a sliding revenue-decline test to determine the subsidy amount, and a top-up subsidy for the most impacted employers.

Employers can expect to receive their payment within three to five business days after applying if they are registered with direct deposit on their payroll account.

“The Canada Emergency Wage Subsidy has enabled employers across the country to keep or re-hire millions of Canadians. The enhanced CEWS program launched today was redesigned to be more flexible and support a wider range of employers,” stated National Revenue Minister Diane Lebouthillier.

The program has provided $26.58 billion in subsidies to more than 275,000 employers.

The Canadian Press

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