The Canada Revenue Agency (CRA) has launched an updated and improved online calculator to help small and large employers alike prepare to apply for Period 5 of the enhanced Canada Emergency Wage Subsidy (CEWS) program, which is now open for applications.
The CEWS calculator can be found on the CRA’s updated Canada Emergency Wage Subsidy web page, which includes detailed information to help employers understand how the CEWS can support their employees and operations, who is eligible to apply, and how claim periods are structured.
The calculator uses a step-by-step process to invite employers to enter information about their business situation and then provides an estimate of the subsidy they can expect to receive.
It also includes a printable spreadsheet and statement features that employers can use to view their claim at a glance and enter required information into the CEWS application form quickly and easily.
By providing employers with detailed information about their subsidy claim, the CEWS calculator can assist them in making informed decisions about retaining or re-hiring workers.
Calculating the CEWS under the new rules
Effective as of Period 5 (July 5, 2020 to August 1, 2020), the CEWS will include:
- A base subsidy for all eligible employers that are experiencing a drop in revenues, with the subsidy amount varying depending on the scale of revenue drop; and
- A top-up subsidy of up to an additional 25%, providing a total subsidy of up to 85%, for those employers that have been most adversely affected by the COVID-19 crisis.
The CRA website can help you understand how the revenue drop and subsidy rate are calculated.
Period 5 applications
Applications for CEWS Period 5 are now open.
Newly eligible employers may sign up via My Business Account or Represent a Client (for tax preparers) and enroll their payroll account for direct deposit to get their payments faster.
You can generally expect to receive your payment within 3 to 5 business days of applying if you are registered for direct deposit on your payroll account.
Additional resources
- Need to make a change? No problem — you can change a CEWS claim after you’ve submitted it using CRA’s My Business Account or Represent a Client.
- Still have questions? You can call the CRA’s dedicated CEWS line to speak with an agent about eligibility requirements, calculating your subsidy, or how to apply: 1-833-966-2099
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