As part of their COVID-19 economic response plan to provide assistance to businesses and employees during this difficult time, the Government of Canada has recently announced details about the Temporary Wage Subsidy and Canada Emergency Wage Subsidy programs.
The Canada Emergency Wage Subsidy (CEWS) provides savings to employers by providing a subsidy equal to 75% of employee wages on the first $58,700/employee, up to a maximum of $847/week for a period of three months. The Temporary Wage Subsidy Program provides a 10% temporary wage subsidy for employers for a period of three months that employers will qualify for if they do not meet the criteria of the Canada Emergency Wage Subsidy.
The Province of PEI announced the Business Adaptation Advice Program as a non-repayable contribution toward the cost to hire a professional to provide advice and support to adapt to or recover from the impacts of COVID-19.
The attached information has been provided by Arsenault Best Cameron Ellis. The attached PDF files provide information on the current programs available (here) and how PSOs can register for CRA online services (here). There are several federal programs that require employers to be registered with CRA online. Additional information for federal and provincial programs can be found on the CFIB website at the follow links:
PEI COVID-19 Measures for your business