What is the current wage subsidy in Ontario?
CEWS covers 75% of an employee’s first $58,700 earned, which equates to a subsidy of up to $847/week per employee. The CEWS program was originally announced in March of 2020 and put in place until August 29, 2020.
Who qualifies for the 75% wage subsidy in Canada?
Must have an existing business number and payroll program account with the CRA. Must pay salary, wages, bonuses, or other remuneration to an employee. There is no cap on the number of employees or size of payroll. For those businesses not eligible for the 75% wage subsidy, the previous 10% wage subsidy is still …
Is Cews extended to 2021?
On July 30, 2021, the federal government proposed to further extend the Canada Emergency Wage Subsidy (CEWS) until October 23, 2021 and to hold the maximum subsidy rate at 40% during the period between August 29, 2021 and September 25, 2021.
Is the wage subsidy still available?
Under the July Jobs Stimulus Package the Employment Wage Subsidy Scheme (EWSS) replaced the Temporary Wage Subsidy Scheme (TWSS) from 1 September 2020. The EWSS will run until 30 April 2022.
Can I still apply for wage subsidy?
The previous Wage Subsidy payments have now ended. You can no longer apply for these, but we may still be processing some applications and making payments.
Can my boss cut my pay due to COVID-19?
Your employer cannot reduce your pay because of COVID-19. Your employer can only reduce your pay if you agree to it. You should make sure this is only a temporary agreement.
Do I still get paid for Covid in 2021?
Currently, federal law generally does not require employers to provide paid leave to employees who are absent from work because they are sick with COVID-19, have been exposed to someone with COVID-19, or are caring for someone with COVID-19.
Can you collect EI and Cews?
Can an employer get CEWS if its employees are on leave, are receiving the Canada Emergency Response Benefit (CERB), or are work-sharing under the EI program? Yes. any EI payments an employee receives in the work sharing program; and/or. the 10% wage-related subsidy already received by any employee.
Is wage subsidy taxable income?
The wage subsidies received are not taxable income to businesses (however the on-payment to employees is treated as a normal payment of salary and wages and is taxable in the hands of the employee). Businesses do not get a tax deduction for the cost of salary and wages that was funded using a wage subsidy.
Do you have to pay back Cews?
You may pay back any amount of CEWS online, if your financial institution has the option. Make sure the payroll account number is the same one you used on your CEWS application so we can apply your payment correctly.
Can I work while on Cews?
Re: Working while on CEWS You’re not on CEWS, the company is. It’s a subsidy for the business not the individual. There are no restrictions on working.
What do you need to know about wage subsidies in Ontario?
You should also learn about the rules and regulations for hiring employees. See our Employment regulations guide: hiring for more information. A wage subsidy is a type of funding that helps cover part of an employee’s wage for a specific amount of time. Some of the wage subsidies that are available in Ontario include:
Who is eligible for emergency wage subsidy in Canada?
Canada Emergency Wage Subsidy (CEWS) – Canada.ca Canada Emergency Wage Subsidy (CEWS) As a Canadian employer who has seen a drop in revenue during the COVID-19 pandemic, you may be eligible for a subsidy to cover part of your employee wages.
Do you get wage subsidy for work placement?
Work placements are a win-win for employers and students. Through the Student Work Placement program, employers can apply for wage subsidies to help them hire post-secondary students across Canada. How much you could get Up to $5,000 for every student you hire through the program
How does funding for summer internships work in Ontario?
Funding for Summer Internships helps with the cost of an intern’s wage, but qualified companies must cover 25% of the intern’s wage themselves and be prepared to pay the chosen intern at least $0.50 more per hour than the provincial minimum wage. Organizations wishing to apply for this program should be nonprofit, governments, or councils.