Federal Relief Measures
There are many announcements being made in the media regarding financial assistance to Canadian businesses and citizens. The Management Team of AutoIQ is constantly monitoring the announcements and reviewing continually to ensure that we can provide information as soon as it is possible. The announcements on the programs are frequently made as an initial announcement without the specific details as to how the program will be administered.
A program recently announced by The Federal Government is a program called the Canadian Emergency Wage Subsidy (CEWS). The government made this announcement, and it was a general announcement with the details of the program to be announced the week of March 30th.
This program is aimed at providing wage subsidy up to 75% for qualifying businesses. The businesses that will qualify will have a minimum decrease in revenues of 30% or greater.
This program will cover up to 75% on the first $58,700 dollars that employees earn, up to a maximum of $847.00 a week.
We will be providing more information and details as soon as it is made available.