75% wage subsidy program

MARCH 30, 2020

We have no written details yet; however, the announcement has been made that the 75% wage subsidy program will apply only for companies that have lost more than 30% of their revenue. How the decline will be measured is completely uncertain with more details expected tomorrow. The subsidy covers 75% of salaries up to approximately $60,000 per year (so a maximum of almost $3,750 per employee per month).
 
This program has no impact on employee's net pay so that should be processed as due. For government remittances, we advise waiting for tomorrow’s details and then making a decision on whether you qualify for the subsidy.
 
The subsidy will not have restrictions based on the number of employees or a hard cap.  The announcement mentioned serious penalties for those who game the system.