COVID-19 relief update – Canada Emergency Wage Subsidy – Supporting Canadian businesses

To help employers keep and re-hire workers during the challenges posed by the COVID-19 pandemic, the federal government is launching the Canada Emergency Wage SubsidyOpens a new window in your browser. through the Canada Revenue Agency (CRA) on Monday, April 27, 2020.

What is the Canada Emergency Wage Subsidy (CEWS)?

Canadian employers may be eligible for a subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020 to June 6, 2020.

Who is eligible?

To be eligible to receive the wage subsidy, you must

  • be an eligible employer, which includes individuals, trusts, taxable corporations, partnerships, registered charities and non-profit organizations (refer to the full list of eligible employersOpens a new window in your browser.)
  • have experienced an eligible reduction in revenue, and
  • have had a CRA payroll account on March 15, 2020.

Additional details on the CEWS program is available on the CRA siteOpens a new window in your browser., including calculating your subsidy amount. Also, you can check out CIBC’s report (PDF, 215 KB) Opens a new window in your browser. on wage subsidy programs and how they might apply for your business.

How to apply and register for direct deposit?

The government is now accepting online applications through the Canada Revenue Agency siteOpens a new window in your browser.. If your business qualifies, be sure to

  1. Log in or register for My Business AccountOpens a new window in your browser. or Represent a ClientOpens a new window in your browser. and apply
  2. Update your direct depositOpens a new window in your browser., which will provide you with the fastest funding experience and avoid delays of physical cheques.

Questions?

For questions regarding the federal government eligibility and application process, please refer to the CRA website for FAQOpens a new window in your browser. on the CEWS program, or you can contactOpens a new window in your browser. the CRA directly.

Thank you for your business. We are committed to being here for you every step of the way.

Laura Dottori-Attanasio
Senior Executive Vice-President and Group Head, Group Head,
Personal and Business Banking