The Canadian Federation of Independent Business says it is pleased to learn that the federal government is planning changes to the Canada Emergency Wage Subsidy. A survey of small business operators found that many were concerned with the requirement to demonstrate a 30 per cent reduction in gross revenues before they could access the subsidy. With the changes, to access the subsidy in March through May, a firm will be able to compare their sales to the same month last year or January or February of this year. The feds are also requiring that companies only demonstrate a 15 per cent reduction in gross revenues for March given that the COVID-19 pandemic had not yet deeply affected businesses in the first half of the month. The government is also allowing a change from the regular accrual accounting method to cash accounting when reporting the loss. The CFIB says the changes will not help all small firms access the subsidy, nor will it address the concerns of those businesses that can’t afford to wait three to six weeks before receiving any support for their wage bills.
CFIB is Pleased with Planned Changes to the Canada Emergency Wage Subsidy
Apr 8, 2020 | 9:47 AM














