If your revenues have decreased by 30% you will be eligible for this subsidy
The number of employees will not determine your eligibility
This subsidy applies to not-for-profit organizations and charities, as well as companies big and small
The government will subsidize 75% an individual’s salary on the first $58,700 earned, which will mean up to $847/week.
Businesses are being asked to do everything they can to retain employees in the wake of closures and mass layoffs across the country. In addition, operators are encouraged to pay staff full and fair wages whenever possible.
“We are trusting you to do the right thing. If you have the means to pay the remaining 25% that’s not covered by the subsidy, please do so,” said Trudeau. “And if you think this is a system you think you can take advantage of or game. Don’t. There will be serious consequences for those who do.”
The unprecedented situation calls for unprecedented action and good faith and trust. For a comprehensive list of what the Federal Government is doing to support business owners, click here.