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

Interior Health reports three additional COVID-19 cases in region

The number of cases in the region since the beginning of the pandemic are now at 492

UPDATE: Fire above Sparwood no threat to community

Mayor David Wilks reported it may be due to an exposed coal seam

Conservative opposition critic tours through Kootenay riding on listening tour

Pierre Poilievre, the Tory finance critic, gathering local feedback on pandemic supports, recovery issues

EKC makes $5,000 donation to Elk Valley ultrasound campaign

The EKC challenged other businesses to help the campaign hit its $300,000 target

City of Fernie to extend pilot snow removal program

Councillors voted unanimously on Sep. 17 to extend the program due to a lack of data points and disruption due to the pandemic

3 new deaths due to COVID-19 in B.C., 139 new cases

B.C. confirms 40 ‘historic cases,’ as well

Supreme Court Justice Ruth Bader Ginsburg dies at 87

The court’s second female justice, died Friday at her home in Washington

Emaciated grizzly found dead on central B.C. coast as low salmon count sparks concern

Grizzly was found on Gwa’sala-‘Nakwaxda’xw territory in Smith Inlet, 60K north of Port Hardy

VIDEO: B.C. to launch mouth-rinse COVID-19 test for kids

Test involves swishing and gargling saline in mouth and no deep-nasal swab

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

Young Canadians have curtailed vaping during pandemic, survey finds

The survey funded by Heart & Stroke also found the decrease in vaping frequency is most notable in British Columbia and Ontario

B.C. teachers file Labour Relations Board application over COVID-19 classroom concerns

The application comes as B.C.’s second week of the new school year comes to a close

CHARTS: Beyond Metro Vancouver, COVID-19 cases in B.C. haven’t increased much recently

COVID-19 case counts outside of Metro Vancouver have been level since July

70-year-old punched in the head in dispute over disability parking space in Nanaimo

Senior’s turban knocked off in incident at mall parking lot

Most Read