$73B wage subsidy program opens, first payments expected May 7

Article Link: https://www.cbc.ca/news/politics/wage-subsidy-business-1.5546034

Discussion posted by: Arye ben-Shaoul

Business groups say program comes too late for companies that have had to close down Applications opened Monday for a $73 billion wage subsidy program to help businesses that have seen a drop in revenue because of COVID-19. Prime Minister Justin Trudeau says the first payments should begin to arrive May 7. The support program covers up to 75 per cent of wages for businesses affected by COVID-19. Businesses of all sizes, along with charities and non-profits, are eligible if they have experienced a drop in revenue of at least 30 per cent… Conservative finance critic Pierre Poilievre said the program’s evolving eligibility criteria and unclear rules have baffled and confused businesses and even accountants.