We’re very excited to launch a free tool to help Canadian employers navigate the latest iteration of the Canadian Emergency Wage Subsidy, or CEWS 2.0.
Over the past six months, Canadian businesses of all sizes have been adapting to change. Thankfully, there have been many government programs introduced in support, including the Canadian Emergency Wage Subsidy.
Now funded at $84b, the latest iteration of the CEWS program has a fair amount of complexity, so two of our partners, Punchcard Systems and Video Tax News, collaborated to build an online estimator to help business decision-makers work through subsidy scenarios to plan for the coming months of uncertainty.
How can you start using this today?
Understanding the rules:
Play around with various inputs and see your organization’s estimated wage subsidy to confirm your understanding of the rules. An explanatory video and written notes are also provided by tax expert Joseph Devaney CPA, CA, VP Education and Development at Video Tax News.
“Quick and dirty” scenario testing:
Test the impact of different elections or revenue scenarios. Results are instantaneously recalculated with every field entry.
The legislation is continuously in flux, so the tool will be updated as time passes. And, of course, please always consult with your tax or accounting professional before making any decisions.
This tool is 100% free, and you can visit it at wagesubsidycalculator.ca.