During this time of crisis it's important to share solutions for those seeking help, because we really are all in this together. We compiled for you all the fundamental info about application for Canada Emergency Wage Subsidy (CEWS).
There is also some additional info about other help from government to those businesses that are unable to access existing emergency support measures.
Image by Tim Mossholder
Canadian employers that have been badly influenced by coronacrisis, may apply for a financial aid of 75% of employee wages for up to 12 weeks. This wage subsidy should enable them to re-hire workers previously laid off as a result of COVID-19, help prevent further job losses, and better position employers to resume regular operations following the crisis. You can find more information about the CEWS here.
Applications to the Canada Emergency Wage Subsidy (CEWS) will open this Monday, April 27.
You can also access CEWS calculator. This calculator is a tool to help you estimate the amount of your wage subsidy and you can find it here.
HOW TO APPLY
- Businesses can apply through My Business Account.
- If you represent a business, you can apply via Represent a Client.
- As an alternative, you may apply using a separate online application form that will be available April 27.
- The CEWS will be processed at the payroll program (RP) account level and you will have to file a separate application for each RP account.
ARE YOU READY TO APPLY?
- Register for CRA’s My Business Account if you are not signed up yet. It will ensure that you can apply as soon as applications open on Monday.
- If you cannot register for My Business Account, make sure you have an online web access code, so you are prepared to use the alternative online application mentioned before.
- Check your business details and direct deposit information for payroll accounts (RP). They need to be up to date so any payments can be processed quickly and easily.
- Before you apply, you will need to calculate the estimated subsidy for your business using aforementioned CEWS calculator.
- If you are expecting a payment of $25 million or more, you will have to get your payment through the large value transfer system (LVTS). To do this, you have to be enrolled in direct deposit on your payroll account and be registered for the LVTS. If you are not set up for LVTS, register now.
Image by Michael Longmire
ADDITIONAL SUPPORT
It's evident that certain businesses may not qualify for existing measures. Additional action has been taken to provide support to:
- Innovators and entrepreneurs
- Organizations in the cultural, heritage, and sports sectors
- Businesses that are not eligible for other emergency support measures
INNOVATION
Many innovative, early-stage companies are unable to access existing emergency support measures. To support also these organizations, government is investing $250 million through the National Research Council of Canada’s Industrial Research Assistance Program.
Small and medium-sized businesses unable to secure funding under the CEWS and the Business Credit Availability Program (BCAP) can apply for financial assistance under IRAP IAP. Find more information about who can apply, here.
The call for applications will close Wednesday, April 29, 2020 at 11:59 pm EDT.
ARTS & CULTURE
With necessary social distancing measures in place to slow the spread of COVID-19, many arts, culture, and sports organizations that are vital for our communities are struggling to survive the crisis. Through a new $500 million COVID-19 Emergency Support Fund for Cultural, Heritage, and Sport Organizations, government makes sure that local artistic and athletic organizations are supported during this challenging time. You can find more information here.
REGIONAL SUPPORT
Businesses in different parts of the country may face unique realities and challenges during the crisis brought by COVID-19. In order to give equivalent financing support to these small and medium-sized businesses, government is investing $675 million in Canada’s Regional Development Agencies. Find out more about our COVID-19 Regional Relief and Recovery Fund (RRRF) here.
SUPPORT FOR CHARITIES
For many who were already struggling, COVID-19 and the necessary measures to slow its spread have worsened their situation. These people are relying even more on charities and non-profit organizations for help. And it's putting an immense amount of pressure on those institutions. In response, government is creating a $350 million Emergency Community Support Fund to support charities and non-profits in their essential work.
Funding will flow through national organizations such as the Red Cross, Community Foundations Canada, and the United Way. All these organizations can get funds to vulnerable people quickly. Funding will support needs such as training volunteers, increasing at-home deliveries for seniors, or driving people with disabilities to appointments.
The most up-to-date information can be found on the official Government of Canada website at Canada.ca.
Official and reliable information on Coronavirus disease (COVID-19):