July 23, 2020
Canada redesigns and extends the Canada Emergency Wage Subsidy (CEWS 2.0)
The Canadian federal government is extending the Canada Emergency Wage Subsidy (the "CEWS") through to November 2020 and proposing major changes that will provide a wage subsidy to any employer who has experienced a revenue decline between July 2020 and November 2020 when compared, generally, to the respective prior month in 2019. Key elements of the redesigned CEWS are:
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert