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

Comments are closed

Just Posted

Petition calls on referendum for new city hall development in Rossland

The petition sent to the B.C. government has gathered more than 350 signatures

Trail RCMP officer accused of criminal harassment, forcible entry

BCPS: The charges against Murchie date between 2017 and 2020

Trail RCMP safely apprehend man experiencing mental health crisis

A number of frontline agencies were involved in bringing this incident to a peaceful resolve

Trail RCMP, coroner, investigating fisherman’s sudden death

The Maple Ridge man, in his 50s, died while fishing on a bridge near Trail

Speak up for B.C.’s Old Growth

Letter to the Editor from Wildsight

The pandemic is widening Canada’s workplace gender gap

Gender pay gap is incentivizing fathers to work while mothers watch children, a new B.C. study has found

Ex-Okanagan Mountie forfeits 20 days’ pay after sexual misconduct review

A former Vernon RCMP constable made sexual comments, grabbed genitals of male officer in two incidents 10 years ago

Man found dead on Okanagan trail identified as Hollywood actor

GoFundMe campaign launched for man found dead at summit of Spion Kop

3 people dead in Prince George motel fire

Fire personnel believe the blaze was suspicious although investigation in early stages

B.C. sets terms to review police, mental health, race relations

MLAs to recommend Police Act changes by May 2021

Feds announce $8.3M to deal with ‘ghost’ fishing gear in B.C. waters

Ghost gear accounts for up to 70 per cent of all macro-plastics in the ocean by weight

Almost 99% less land in B.C. burned this year compared to 2018

2018 was the worst year on record for wildfires

B.C. orders Coastal GasLink to stop pipeline construction near protected wetlands

The 670-kilometre pipeline is planned to transport natural gas from northeast B.C. to Kitimat

Most Read