Upcoming Deadline for Wage Subsidy Applications

 

The Canada Emergency Wage Subsidy provides a rebate payment to help cover the costs of wages paid during the COVID-19 pandemic. This is the foundational support program for the business community. The Burnaby Board of Trade advocated strongly for the original wage subsidy and its several expansions.

If your business or non-profit has not yet accessed the wage subsidy program, Sunday, January 31 marks the deadline to apply for the periods covering March 15, 2020 through to August 1, 2020. This window includes both the original wage subsidy program and the expanded program which made many more businesses eligible.

This is the first deadline for this program. Deadlines will occur each month after this for another period of the program.

The current wage subsidy program:

  • Is open to businesses facing any amount of revenue decline
  • Applies to the wages of existing employee and new employees hired since the pandemic began
  • Accepts applications online and provides subsidy payments quickly

We’re happy to provide our members with advice or guidance on applying for the wage subsidy ahead of the deadline.  Please contact Cory Redekop, Director of Policy, at cory@bbot.ca.   

Read below for a brief recap of the two parts of this program:

Original Wage Subsidy Program (March 15 through July 4, 2020)

  • Open to most organizations
  • Full 75% rebate of wages paid
  • Must have at least 15% (March) and then 30% (April through June) revenue declines
  • Deadline for all periods during this window is January 31, 2021
  • More details:  Click here 

Expanded Wage Subsidy Program (Initial period: July 5 to August 1, 2020)

  • Open to most organizations
  • Available to businesses with any level of revenue decline — there is no minimum threshold
  • A sliding scale of support, up to a base subsidy of 60% of wages
  • Up to a 25% top-up for the most impacted businesses
  • Deadline for this initial period is January 31, 2021.  Then each month another period will expire.
  • More details:  Click here