Companies and not-for-profit organizations that have been affected by COVID-19 can now apply for the Canada Emergency Wage Subsidy.
Applications opened on April 27, with the first payments expected to be issued by May 7.
Employers can apply to receive a wage subsidy of 75 per cent of employee wages for up to 12 weeks, retroactive from March 15 to June 6. The subsidy will provide up to $847 per week, per employee.
Applicants must calculate the estimated wage subsidy for their business before applying.
The wage subsidy enables organizations to re-hire workers previously laid off as a result of COVID-19, help prevent further job losses, and better position organizations to resume normal operations following the crisis.
To be eligible for the wage subsidy, the organization must have experienced a 15 per cent revenue decrease in March 2020 compared to March 2019, and a 30 per cent decrease in April and May 2020 compared to April and May 2019. Companies may also use the average of the revenue earned in January and February 2020.
Learn more about the Canada Emergency Wage Subsidy.