The Canada Emergency Wage Subsidy Program (CEWS) is open for applications – beginning Monday April 27, 2020.
The preferred method to apply is through the CRA website with direct deposit for refund payment. We can guide you through the process of setting this up. If this is not possible, the government is developing an online application expected to be available April 27.
Eligible employers include: individuals, taxable corporations, non-profit organizations, registered charities, partnerships consisting of eligible employers and a handful of other organizations.
How the program works and its built in limitations for salaries and netting requirements remain the same. The allowable methodologies for calculating eligible revenue reductions remain constant.
As this is an apply and receive a refund program, it cannot be run through a payroll service system. You and your trusted accounting support team must choose the most appropriate method to calculate your claim and submit it to the government.
We have developed a tool accounting for the various netting out components of the program to ensure you apply for all that you are eligible for and stay on side with the rules of the program. We will guide you through the process of choosing the most appropriate method to calculate your eligible refund for each period and RP account. We have represent a client status with many of our customers, as a result, we can submit the application on your behalf. For anyone we do not have represent a client status we can produce the required information for you and walk you through the application process on the CRA site.
Call us any time with any questions and for support.
Greg Libbrecht on behalf of the entire team at Platinum Business Services