Revenue Calculator Wage Subsidy

Information for employers is available on the temporary covid 19 wage subsidy scheme is available from the employing people section on this website.

Revenue calculator wage subsidy. If you have questions on the wage subsidy extension you can contact work and income. It was to support them if they were impacted by covid 19 and faced laying off staff or reducing hours. Determine the maximum weekly wage subsidy mwws allowable section a section b section c this sample subsidy calculator demonstrates how an employee s subsidy can be calculated during the operational phase of the temporary wage subsidy scheme. Make sure this amount does not exceed the maximum of 25 000 per eligible employer.

Revenue services refunds and repayments of tax. 203 and 1 462 gross per week the subsidy is 203. For monthly pay periods reporting four or five insurable weeks gross weekly wage is calculated by. If you are eligible for both wage subsidies for a claim period any amount you calculate under the 10 temporary wage subsidy for employers in the period will reduce the amount available for you to claim under the cews in that same period.

To use this calculator to establish an employee s wage subsidy. Information for employees on temporary covid 19 wage subsidy scheme is available from the jobs and pensions section on this website. The wage subsidies have closed. This subsidy will enable you to re hire workers help prevent further job losses and ease you back into normal operations.

Revenue drop 1 claim period revenue baseline revenue using the current or prior claim period revenue drop the deeming rule for periods 5 and later. Multiply the number of eligible employees by the maximum of 1 375 per eligible employee. Wage subsidy extension external link work and income. As a canadian employer who has seen a drop in revenue due to covid 19 you may be eligible for a subsidy to cover part of your employee wages retroactive to march 15.

Multiplying the gross monthly wage by 12. This is a simplified approach to help you calculate and document your revenue to find out if you were eligible for the wage subsidy extension. Determine the total number of eligible employees employed from march 18 to june 19 2020. Employers and sole traders could apply for the wage subsidy before 10 june 2020.

151 50 and 202 99 gross per week the subsidy is 151 50. Temporary covid 19 wage subsidy scheme general information.