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ARTICLE · 22 JULY 2020

COVID-19: CEWS 2.0

Crowe Soberman LLP
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First the good news - on July 17, 2020, the government announced that the Canada Emergency Wage Subsidy ("CEWS") will be extended until December 19, 2020 and has released draft...

CanadaEmployment and HR
Aaron Schechter, CPA, CA
Aaron Schechter, CPA, CA
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The Canada Emergency Wage Subsidy Reloaded

First the good news - on July 17, 2020, the government announced that the Canada Emergency Wage Subsidy ("CEWS") will be extended until December 19, 2020 and has released draft legislation to support the extension until November 21, 2020.

And with that, the bad news - no details have been released related to the period from November 22, 2020 to December 19, 2020 and the CEWS calculations for Periods 5 and later are both painful and complicated.

CEWS 2.0 will provide tiered support to businesses that have experienced any degree of decreased revenues and will provide an additional subsidy for those hit hardest by the pandemic. Effective July 5, 2020 (Period 5), the CEWS will now consist of two parts:

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