New economic stimulus and clarifications on the “old” one.

It has been a week since our last post. During this week the government announced a number of new economic measures aimed at softening the economic impact of COVID-19. Bill C-13 which contains measures discussed in our prior post was passed by the parliament on March 25. Here are our thoughts, observations and clarifications. This is by no measure a complete summary as we only focusing on programs about which received most questions.  75% Wage Subsidy This measure officially known as The Canada Emergency Wage Subsidy has generated lots of excitement.  The details of the program were announced on April 1. Here is a quick summary:   The subsidy applies a rate of 75% of the first $58,700 normally earned by employees. This amounts to up to a maximum of $847 per week.  The program will be in place for a 12-week period, from March 15 to June 6, 2020.  To qualify a […]