Covid-19

COVID-19 IMPACT ON BUSINESS – APRIL 9, 2020

CEWS – NEW CRITERIA WILL HELP MORE SMALL BUSINESSES QUALIFY On April 8th, there were significant changes announced to the Canada Emergency Wage Subsidy (“CEWS”).  Prior to this announcement, to qualify for the CEWS, businesses had to demonstrate that their revenue for the months of March, April and May 2020 had decreased by at least 30% from the same months in the prior year.   The most significant change is that the decrease in revenue requirement of …

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COVID-19 IMPACT ON BUSINESS – APRIL 6, 2020

The PDF COVID-19 Wage Subsidies – Are you Eligible? (also available on our website Info Centre) is a summary intended to help simplify the information regarding the two separate wage subsidy programs that the Federal government has announced. These subsidies are: The 10% Temporary Wage Subsidy; and The 75% Canadian Emergency Wage Subsidy (CEWS). The 10% Temporary Wage …

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COVID-19 IMPACT ON BUSINESS – APRIL 1, 2020

CANADIAN EMERGENCY WAGE SUBSIDY (CEWS) On Monday March 30th we updated you with respect to the CEWS benefit available to employers. Today, the Federal government announced additional details with respect to the CEWS program.   As they say, the devil will be in the details, so we expect additional clarifications to come regarding this subsidy program over the coming days and weeks. The following is a recap …

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COVID-19 IMPACT ON BUSINESS – MARCH 30, 2020

CANADIAN EMERGENCY WAGE SUBSIDY (CEWS)  Today, the Federal government announced additional details on measures enacted to support small and large businesses. Specifically, there has been additional details provided with respect to the 75% Canadian Emergency Wage Subsidy (CEWS) previously announced for qualifying businesses for up to 3 months, retroactive to March 15, 2020. The intent …

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COVID-19 IMPACT ON BUSINESS – MARCH 27, 2020

BUSINESS SUPPORT UPDATE Today, the Federal government announced additional measures to support small business.  The government has indicated specific details of the measures in today’s announcement will be communicated before the end of March.  The following is a high-level summary of the announcement. TEMPORARY WAGE SUBSIDY The Temporary Wage Subsidy previously announced for qualifying businesses …

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COVID-19 IMPACT ON BUSINESS – MARCH 24, 2020

WORKERS COMPENSATION RELIEF MEASURES To help businesses in the province during the COVID-19 pandemic, Workplace NL is deferring the collection of employer assessment payments and waiving interest charges and penalties until June 30, 2020. This means that all insured employers will not have to worry about paying assessments until July 2020. The deferral will be …

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COVID-19 IMPACT ON BUSINESS – MARCH 23, 2020

TEMPORARY WAGE SUBSIDY  Clarification has been received on the Temporary Wage Subsidy for Employers announced last week. The government has released a Frequently Asked Questions (FAQ) document to assist employers with calculating and deducting the subsidy from upcoming employer remittances to CRA.  The related link to the FAQ can be found here. Employers that choose not …

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COVID-19 IMPACT ON BUSINESS – MARCH 19, 2020

As businesses navigate these uncertain times, traditional methods of operations will no longer apply and the ability to stay nimble and responsive to change will be very important. Staying up-to-date and aware of all announcements and program assistance details is critical as you make business decisions. We are here to help. We have shared certain …

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