While employers continue to wait for the specific program details and eligibility requirements, the federal government has committed to changing some of the requirements for employers wishing to take advantage of the federal wage subsidy.
Instead of showing a 30% decline in revenues as a threshold for qualifying, businesses will now only need to show a 15% decline in March 2020 over the previous year and can use both January and February as reference points for the decline rather than the previous year.
Additionally, charities and non-profits can choose to exclude revenues from governments, such as grants, in calculating their revenues for their application.
Parliament is being recalled to debate and pass the legislation in the coming weeks, so more information around eligibility and timing of payments should be available at that time.
By Andrea Raso, Catherine Repel and Anne Amos-Stewart, Clark Wilson