{"id":9321,"date":"2020-05-20T19:00:01","date_gmt":"2020-05-20T23:00:01","guid":{"rendered":"http:\/\/www.irasmithinc.com\/blog\/?p=9321"},"modified":"2020-05-24T15:11:45","modified_gmt":"2020-05-24T19:11:45","slug":"canada-emergency-wage-subsidy","status":"publish","type":"post","link":"https:\/\/irasmithinc.com\/blog\/canada-emergency-wage-subsidy\/","title":{"rendered":"CANADA EMERGENCY WAGE SUBSIDY: HELPING YOUR COVID-19 BUSINESS RECOVERY"},"content":{"rendered":"

The <\/b>Ira Smith Team<\/b><\/a> is absolutely operational and Ira, in addition to Brandon Smith, is readily available for a telephone consultation or video meeting.<\/b><\/span><\/h2>\n

Stay healthy, well balanced and safe and secure everyone.[monkeytools msnip=”https:\/\/monkeyplayr.com\/playr.php?u=5173&p=22240″]<\/b><\/span><\/h2>\n

Introduction<\/b><\/span><\/h2>\n

Statistics Canada says the annual cost of living rate went negative in April as the economy came to a standstill in the very first full month of the pandemic. The agency says the consumer price index for April fell 0.2 percent compared with a year ago as energy rates did a nosedive. It was the very first year-over-year decline in the CPI since September 2009.\u00a0 As a result, on May 15, Prime Minister Justin Trudeau announced some amendments to existing Federal government support programs, including the Canada Emergency Wage Subsidy<\/strong><\/em> program, to help during this COVID-19 pandemic.<\/span><\/p>\n

Millions of Canadians have actually lost their jobs due to the COVID-19 pandemic. As our <\/span>economic recovery<\/span><\/a> gradually begins, any place feasible to do so securely, Canadians need to return to work.\u00a0 Businesses opening up again safely will bring life back into the Canadian economic climate. That is exactly why the federal government generated the Canada Emergency Wage Subsidy (CEWS) (initially called the <\/span>Canada Emergency Response Benefit<\/span><\/a>) in March.<\/span><\/p>\n

Canada Emergency Wage Subsidy extended<\/b><\/span><\/h2>\n

I have previously written about the federal government <\/span>assistance programs<\/span><\/a> to help both workers and employers. The overall umbrella name for all the programs is the\u00a0 COVID-19 Economic Response Plan.\u00a0 When the CEWS program was launched, critics quickly pointed out that it did not cover all types of businesses.\u00a0 They also wondered if the original program, scheduled to end June 30, was long enough to really help the economy.<\/span><\/p>\n

On May 15, PM Trudeau introduced <\/span>amendments<\/span><\/a> to the program to help businesses get ready for reopening. These companies need to be able to rehire workers and with any luck perhaps hire even more than they had when the <\/span>state of an emergency<\/span><\/a> shutdown was declared. So, the CEWS is extended for 3 extra months to August 29. The CEWS covers 75% of an <\/span>employee’s<\/span><\/a> salaries– up to $847 per week – for eligible employers. For those able to additionally benefit from the Temporary 10% Wage Subsidy for a period, any credits taken under that program for a pay period will decrease the amount available to be claimed under the CEWS for that exact same time period.<\/span><\/p>\n

The 1 part of your business your customers are most worried about<\/b><\/span><\/h2>\n

So businesses currently have some runway to get restarted. This is a good thing as businesses will certainly need funding to reactivate. Specific businesses might need a few <\/span>extra staff<\/span><\/a> members than they had before the shutdown. I just read this morning <\/span>an article<\/span><\/a> about what restaurants and other businesses may have to do to make customers feel at ease about returning.<\/span><\/p>\n

The one area of the business that people might fear is the <\/span>washroom<\/span><\/a>.\u00a0 The article raises the following questions that should be answered before reopening:<\/span><\/p>\n