16 Dec Do You Qualify for the Canada Emergency Wage Subsidy?
As you have heard, the government has rolled out many subsidies and grants to help businesses endure the COVID-19 pandemic.
We wanted to reach out to you specifically about the Canada Emergency Wage Subsidy (CEWS). This is the subsidy for salaries and wages and it could add up to a significant amount of money in your pocket. The program has been extended until June 2021 and it’s now much easier for businesses to qualify. Clearline has assisted many of our clients obtain CEWS, or obtain additional amounts of CEWS, that they did not think they were eligible to receive. The deadline for applications for the initial CEWS periods (Periods 1 – 5 which encompass March through July 2020) is January 31, 2021. If you have not had a discussion with your Clearline representative on how we may be able to assist you in the CEWS application process for these initial periods you should do so right away given the pending deadline.
If you’re wondering if you may qualify for the CEWS, ask yourself these two questions:
- Have you had a drop in revenues?
- Do you pay wages and salaries to employees, which can include you and/or your family?
If you answered yes to both questions, there’s a good chance you may qualify and you should discuss this with your Clearline representative.
While the rules are complicated, our tax team has become expert in helping businesses assess eligibility and complete the applications. The cost to perform a high-level assessment of your eligibility ranges from $0-$600. If we determine you are eligible, we can assist you in completing the applications at an additional cost of $750-$1,250 per period.
If you have any questions, or if you’d like us to take a look at your financials to see if you qualify, please get in touch with us.