Finance Minister Bill Morneau announced today that the 75% Canada Emergency Wage Subsidy (the "Wage Subsidy") will be extended for an additional 12 weeks to August 29, 2020. It was originally set to expire on June 6, 2020. The announcement indicates that the Government will be consulting with various stakeholders over the next month on potential adjustments to the program including the 30% revenue decline threshold.
Additional details were also released today regarding the Wage Subsidy's eligibility requirements for partnerships, Indigenous government-owned corporations, Registered Canadian Amateur Athletic Associations, journalism organizations, and private colleges and schools. Other proposed legislative changes will be put forth regarding seasonal employees, employees returning from leave, amalgamations, and tax-exempt trusts.
You can read the Government news release here, or for more details, refer to this backgrounder.
Please do not hesitate to contact any member of our Labour, Employment & Human Rights Group to help navigate you through this difficult time.
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