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.