Canada Emergency Wage Subsidy
What is the Canada Emergency Wage Subsidy?
The Canada Emergency Wage Subsidy (CEWS) provides eligible businesses with a subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020. These funds help you re-hire employees you’ve had to lay off as a result of COVID-19 and avoid further job losses.
Is your business eligible?
To be eligible to receive the wage subsidy, you must:
- Be an eligible employer (Check this list on the Government of Canada website).
- Have experienced an eligible reduction in revenue (Determine if you have an eligible revenue reduction).
- Have an active CRA payroll account open as of March 15, 2020.
How to apply
Applications for the Canada Emergency Wage Subsidy open on April 27, 2020. You can apply through My Business Account on the CRA’s web portal.
Before you apply, make sure that you:
- Calculate the estimated subsidy your business could get on the Government of Canada website. If you are expecting a payment of more than $25 million, you will have to get it through the large value transfer system (LVTS). To do this, you have to be enrolled in direct deposit on your payroll account and be registered for the LVTS. If you are not already set up for LVTS, begin the registration process.
- If you have not already done so, register for the CRA’s My Business Account. If you are unable to register for My Business Account, you can use the alternative application - just make sure you have an online web access code.
- Check that your business details and direct deposit information for your payroll accounts (RP) in My Business Account are up to date. That way, it’s easier and quicker to get your payments.
We're here to help
If you have any questions about this subsidy, or you’re interested in other government relief programs, please contact your Meridian Business Advisor or Relationship Manager or call 1-866-592-2226.
For updates about our response to COVID-19 challenges, visit our Business Banking COVID-19 page.