The Federal government has announced several COVID-19 relief
packages for individuals and businesses which include enhancements
to Employment Insurance (EI), an extension of
certain income tax return deadlines, a postponement of final income
tax and GST/HST payments and instalments, and a temporary wage
subsidy for employers. Very few details initially accompanied this
last measure, and it quickly became a source for much speculation
as people were interested in knowing whether they
qualified.
Since that time legislation concerning
the Temporary Wage Subsidy
for Employers
("TWSFE") has been released, passed by
the House of Commons and now appears to need some revisions to
account for the increase in the rate from 10 per cent to 75 per
cent. Here's how the TWSFE and the updates break
down:
