09 April 2020 Additional updates to Canada's Emergency Wage Subsidy program provided Canada's Finance Minister Bill Morneau provided updates to the wage subsidy program on April 1, introducing a new program called the Canada Emergency Wage Subsidy (the Wage Subsidy), which will co-exist with the original 10% wage subsidy. This Wage Subsidy program would provide a 75% wage subsidy to employers who have suffered a drop in gross revenues of at least 30% in March, April or May, when compared to the same months in 2019. In addition, on April 8, the Finance Minister announced significant changes to this program, specifically to the requirement that there be a 30% reduction in gross revenues for employers to be eligible for the program. Document ID: 2020-0916 |
