Up to $25.000 temporary wage subsidy for employers – COVID-19 Support

Canada Revenue Agency - Benefits, credits and support payments: CRA and COVID-19

Type of Funding

Wage/Internship Subsidy

Max Funding

25,000.00

Region

Federal/National

Application Difficuty

Fairly simple

Processing Time

Fast (A couple of days)

Province

All Of Canada

Industry

N/A

Funding Goals

Working capital.
COVID-19 Help.

Demographic

N/A

Incorporated

Yes

Contact

1-800-959-5525

Get A Fast Business Loan

Business location – Canada
Monthly Revenue – $10K +
Time in Business – 6 months +

Funds in 24 hours
$5,000 to $500,000
No hidden fees
No collateral
Applying doesn’t impact credit score

Details

The Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). Wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer. Subsidy is equal to 10% of the remuneration paid from March 18, 2020 to June 19, 2020.

Eligibility

Individual (excluding trusts), partnership, registered charity, or Canadian-controlled private corporation (including a cooperative corporation) eligible for the small business deduction; have an existing business number and payroll program account with the CRA on March 18, 2020; and pay salary, wages, bonuses, or other remuneration to an eligible employee.

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