COVID-19: Navigating the Federal Assistance for Employers & Employee
Since applications opened at 6 a.m. today, over 10,000 businesses have applied for the federal government’s new wage subsidy (CEWS).
Companies will be able to receive up to 75% of employee wages for up to a 12-week period, spanning from March 15, 2020, to June 6, 2020, from the federal government to help with the impact of the COVID-19 pandemic.
Some of the other measures that have been put in place to help both employer and employees are:
- Wage subsidy: the government will pay for up to 10 percent of an employer’s remuneration costs for three months
- Work-sharing program: this pre-existing program’s timeline has been extended for up to 76 weeks
- There is more credit available through Export Development Canada and the Business Development Bank of Canada
- Emergency Care Benefit: up to $900 bi-weekly for up to 15 weeks will be given to those who fail to qualify for EI sickness benefits and who don’t have paid sick leave
- Emergency Support Benefit: up to 14 weeks of support will be provided to those who fail to qualify for EI and are facing unemployment
To help our experts at HR Insider, have collected all the information available out there into one place to help you understand the benefits and know what help you are entitled to during these uncertain times.
- Economic Measures Targeted Towards Employers
- The 13 Things You Need to Know About the New Canada Emergency Wage Subsidy
- The 12 Things You Need to Know About the Canada Emergency Relief Benefit
- The 11 Things you Need to Know About the EI Work Sharing Program
- Economic Measures Targeted Towards Employees
- Increased Credit Availability & Lower Interest Rates
- Enhancements to Existing Government Programs
- Understanding the Impact of COVID-19 on Your 2020 Deferred Tax Provision
- Tax Filings
- Business Interruption Claims Due to COVID-19
- Rent Deferment Agreements in Light of COVID-19
Download the Navigating the Federal Assistance for Employers & Employees today.