Temporary Wage Subsidy for Employers
MARCH 25, 2020
One of the recent measures the Federal Government announced as part of their economic measures last week was a Temporary Wage Subsidy for Employers. Eligible companies, charities and non-profits are able to receive a 10% subsidy on wages for employees. The maximum that can be received is $25,000 per company over the next 3 months with a maximum of $1,375 per employee.
The subsidy is received by reducing remittances of federal and provincial income tax from your source deductions (with limitations on each remittance). Fort Group has created a wage subsidy calculator to assist our clients with applying this subsidy to their payroll remittance.
Please contact your lead partner or manager for more information or to request access to the calculator.