For the Canada Emergency Wage Subsidy [75% wage subsidy] (the “CEWS”), today the federal government announced (subject to Parliamentary ratification):
[1] you will have the option of using January and February of 2020 as your reference periods, rather than the original year-over-year benchmarks, under certain conditions;
[2] you may also be permitted to use January and February, 2020, respectively, as your reference periods to calculate your decline in revenue (In addition to the original calculation periods for calculating if you meet the threshold 30% reduction in revenues), including newer businesses (i.e., start ups) that may not have the necessary historical revenue information;
[3] to claim the subsidy for March of 2020, only a reduction in revenue of 15% will be required, rather than 30%; and
[4] after March, 2020 (i.e., two additional months), the decline must still be at least 30%.
Here is more information from us about the CEWS and how you qualify and apply: https://wardlegal.ca/31585663827857
