The federal government has confirmed that a site dedicated to the wage subsidy and emergency benefits programs will be up and running April 6.
Anyone who has already applied does not have to re-apply. For anyone not in a position to go online, phone numbers will be available. Those with direct deposit will get their money in three to five days.
Federal Finance Minister Bill Morneau expects the Canada Emergency Wage Subsidy program will cost $71-billion, while the Canada Emergency Response Benefit (CERB) will cost about $24-billion.
The wage subsidy program is aimed to protect jobs, while the CERB will help those who have lost their jobs altogether.
Wage Subsidy Program:
- applies at a rate of 75 per cent of the first $58,700 normally earned by an employees — with a maximum benefit of $847 per week, for 12 weeks (effective March 15 to June 6, 2020).
- eligible employers who suffer a gross revenue drop of at least 30 per cent in March, April or May in comparison to 2019 will have access to the subsidy
- employers of all sizes are eligible, with the exception of public sector
- government says work will continue to non-profit organizations and registered charities meeting similar revenue loss criteria
Further information on the Canada Emergency Wage Subsidy is available at this link, via the Government of Canada.
Canada Emergency Response Benefit is available to those:
- residing in Canada, and are at least 15 years old;
- who have had at least $5,000 income in 2019, or in the 12 months before the date of their application; and
- who are or expect to be without income for at least 14 consecutive days in the initial four-week period of the program.
Further information on the CERB is available at this link, via the Government of Canada.
