President of the Treasury Board Jean-Yves Duclos responds to a question during a news conference in Ottawa, Wednesday April 15, 2020. THE CANADIAN PRESS/Adrian Wyld

Businesses can apply for wage subsidy April 27, calculate payments on new website

Program will provide 75% of each employee’s salary, up to $847 per week

The federal government will begin to accept applications for the wage subsidy Monday (April 27), as it rolled out a calculator for businesses to calculate how much they could receive.

The $73-billion wage subsidy will provide businesses with 75 per cent of each employee’s salary, up to $847 each week. It is available for businesses who have lost 15 per cent of gross revenue in March, and 30 per cent in the months following. The subsidy will be backdated to March 15 and is currently set to run for 12 weeks.

Prime Minister Justin Trudeau said Tuesday (April 21) that companies using tax havens will still be eligible for the wage subsidy, as the money goes to payroll and workers.

At a later press conference, Treasury Board president Jean-Yves Duclos said the government was trying to keep as many workers on the payroll as possible.

“Having the ability to retain staff and rehire people will put employers in the best possible position,” Duclos said.

He said the Canada Revenue Agency is expected to process 90 per cent of applications by May 5, with cheques and direct deposits coming to businesses shortly after.

READ MORE: Canada’s 75% wage subsidy is coming, but not for several weeks: finance minister

READ MORE: Revenue dip needed to qualify for wage subsidy drops to 15% in March: Trudeau


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

VIDEO: Find Me My Furever Home – Blue at the Chilliwack SPCA

‘He’s a very laid back, easy-going guy, but still very active,’ says SPCA branch manager

Chilliwack hospice hosts candlelight walk for those who have lost loved ones during pandemic

People invited to ‘celebrate the life of your loved one’ at Illumination Walk

Garage sale happening now at Atchelitz Threshermen’s Association in Chilliwack

Due to COVID-19, the event is one of the association’s only sources of income for the year

UPDATE: Traffic moving again after rollover on Highway 1 in Chilliwack

This is the second collision in four days in the same area of the highway in the ess curves

Unofficial holidays: Here’s what people are celebrating for the week of Sept. 27 to Oct. 3

World Farm Animals Day, Drink Beer Day and Virus Appreciation Day are all coming up this week

B.C. records 98 more COVID-19 cases, most in Lower Mainland

One new senior home outbreak, Surrey Memorial outbreak over

VIDEO: COVID won’t dampen Lower Mainland woman’s Halloween spirit

Langley’s Tanya Reid posted video offering suggestions of how trick-or-treating might look for her

PHOTOS: 2nd calf in a month confirmed among Southern Resident killer whale pod

Center for Whale Research said they will eagerly await to observe the calf to evaluate its health

2 British Columbians arrested, 3 at large in massive Alberta drug bust

Eight people are facing 33 charges in what police have dubbed Project Incumbent

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

97 distressed horses, cats and dogs seized from farm in Princeton

RCMP assisted as BC SPCA executed search warrant

Father hopes journey to aviation-safety program inspires hope

Former South Surrey resident Greg Sewell hasn’t given up on quest to mandate older-plane retrofits

Most Read