Taking stock: Quick reference guide for government initiatives
*Flowchart below last updated June 2, 2020 (Originally published April 14, 2020)
With the passing of Bill C-14, the COVID-19 Emergency Response Act, No. 2 on April 11, 2020, the federal government has now laid a legislative foundation for various initiatives to assist employers and employees who are affected by COVID-19. The main measures include:
- The new Canada Emergency Response Benefit (“CERB”)
- The new Canada Emergency Wage Subsidy (“CEWS”), a 75% wage subsidy for eligible employers for the 12-week period beginning March 15, 2020
- The new 10% Temporary Wage Subsidy for employers
- Enhanced access to Employment Insurance (“EI”) benefits, including streamlining applications to the EI work-sharing program
Details on emergency response measures have shifted over the past few weeks, as they have evolved in response to our ever-changing situation. We expect this evolution will continue in many respects; notably, we are still awaiting regulations to further clarify some details related to CERB and CEWS.
However, given that the legislation now appears to be place, it seems an opportune moment for a fresh look at the current landscape of options. Recognizing it is a busy time, it is our pleasure to provide a dynamic summary of the mutual interactions between CERB, CEWS, EI and the 10% wage subsidy. We trust this will serve as a helpful reference point when seeking employment and tax advice to find the best options in the circumstances.
This article is provided for general information only. If you have any questions about the above, please contact a member of our Labour and Employment group.
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