UPDATE ON COVID-19
Canada Emergency Response Benefit
To support workers and help businesses keep their employees, the government has established the Canada Emergency Response Benefit (CERB) that will be administered by Canada Revenue agency.
What individuals will get: The benefit would provide $2,000 a month for up to four months for workers who lose their income as a result of the COVID-19 pandemic. Also it covers Canadians who have lost their jobs, are sick, quarantined, or taking care of someone who is sick with COVID-19, as well as working parents who must stay home without pay to care for children who are sick or at home because of school and daycare closures.
The CERB would apply to wage earners, as well as contract workers and self-employed individuals who would not otherwise be eligible for Employment Insurance (EI).
Temporary wage subsidy for employers
The Government announced a temporary wage subsidy for employers for a period of 3 months.
Eligible employers (individuals - excluding trusts, certain partnerships, non-profit organization, registered charity, or Canadian-controlled private corporation eligible for the small business deduction) who pay salary, wages, or taxable benefits to employees, between March 18, 2020 and June 19, 2020, can reduce payroll remittances of federal, provincial, or territorial income tax by the amount of the subsidy. This measure is only applicable to remittances made to the CRA.
