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.
*Link to printable PDF version here.
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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