CEWS: applications open Monday + new calculator
 
Today, Prime Minister Trudeau announced that applications to the Canada Emergency Wage Subsidy (CEWS) will open this coming Monday, April 27!
 
Until then, you can access our new CEWS calculator on the CRA website to see how much you could receive. Find the new CEWS calculator here.
 
See important information below about how to apply and what you can do now to get ready. You can also find this information and more about the CEWS here.
 
How to apply

• Most businesses may apply using My Business Account.
• If you represent a business, you may apply using Represent a Client
• Alternatively, you may apply using a separate online application form (available April 27).
• The CEWS will be processed at the payroll program (RP) account level, so you will have to file a separate application for each RP account.

 
Get ready to apply

• Register now for CRA’s My Business Account if you are not already signed up. This will ensure that you can apply as soon as applications open.
• If you are unable to register for My Business Account, make sure you have an online web access code so you are prepared to use the alternative application.
• Make sure your business details and direct deposit information for your payroll accounts (RP) are up to date. This will ensure that any payments to you will be processed quickly and easily.
• Before you apply, you will also need to calculate the estimated subsidy for your business using our new CEWS calculator.
• If you are expecting a payment of $25 million or more, you will have to get your payment through the large value transfer system (LVTS).
  • To do this, you have to be enrolled in direct deposit on your payroll account and be registered for the LVTS.
  • If you are not already set up for LVTS, begin the registration process.

 
Additional supports for businesses + organizations
 
On April 17, our government announced new measures aimed at supporting businesses and arts and culture organizations.
 
Through Canada’s COVID-19 Economic Response Plan, we are providing immediate help to businesses in need through programs such as the CEWS and the Canada Emergency Business Account (CEBA). However, it has become clear that certain businesses, and their workers, may not qualify for existing measures. This is why we are taking additional action to provide support to:

• Innovators and entrepreneurs
• Businesses not eligible for other emergency support measures
• Organizations in the cultural, heritage, and sports sectors
   

Innovation
 
In the face of COVID-19, we recognize that many innovative, early-stage companies are unable to access existing emergency support measures. To better support these organizations, we are investing $250 million through the National Research Council of Canada’s Industrial Research Assistance Program.
 
Starting TOMORROW on April 22 at 7 a.m. EST, small and medium-sized Canadian businesses unable to secure funding under the CEWS and the Business Credit Availability Program (BCAP) can apply for financial assistance. Find more information here.
 

Regional support
 
We know businesses in different parts of the country may face unique realities and challenges in the face of COVID-19 – I know that is true here in Parkdale—High Park where expenses for businesses may be higher due to their location in the Toronto region.
 
I also know that many businesses may be unable to access our government’s existing emergency support programs. In order to give equivalent financing support to these small and medium-sized businesses, we are investing $675 million in Canada’s Regional Development Agencies. The Regional Development Agency serving Southern Ontario, including the Parkdale—High Park area, is FedDev Ontario.
 
Find out more about our COVID-19 Regional Relief and Recovery Fund (RRRF) here.
 
 
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