Wage subsidy application portal to open April 27
The application portal for the Canada Emergency Wage Subsidy (“CEWS”) will open on Monday, April 27, 2020. 90% of applications are expected to be processed by May 4, with payments coming later that same week. The CRA website has been updated with additional details about the application process, including a helpful calculator to determine how much subsidy a business can receive. A business can apply via any of the following methods:
- using My Business Account;
- representatives can apply using Represent a Client; or
- using a separate online application form.
The CEWS will be processed at the payroll program (RP) account level, separate applications must be filed for each RP account.
If a business is expecting a payment of $25 million or more, they will have to receive the payment through the large value transfer system (“LVTS”). This requires being enrolled in direct deposit for the payroll account and being registered for the LVTS.