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Changes to the wage subsidy program

The Canadian Chamber of Commerce issued a statement following the information on several important changes to the wage subsidy program that will help more businesses access funding.

  • A business will now be able to compare its revenue to the same month last year OR an average of January and February 2020. This will help new and growing firms who may not have qualified based on a comparison to the same month in 2019. 
  • A business needs only to demonstrate a 15% reduction in gross revenues for March. A 30% reduction will still be required to receive the subsidy in April and May. 
  • The program will now allow businesses to use either accrual or cash accounting methods. 
  • Employer paid Employment Insurance (EI), Canada Pension Plan (CPP), Quebec Pension Plan (QPP) and Quebec Parental Insurance Plan premiums will be reimbursed. 
  • Registered charities and not-for-profit organizations are eligible employers to apply for the wage subsidy. They also have the choice of whether or not to include government funding in their revenue calculations.
  • Businesses can start applying for interest-free loans on April 9. Applications are available through local financial institutions. 

While these are positive changes, the Canadian Chamber continues to focus on the importance of getting funds to businesses in days, not weeks.

READ THEIR STATEMENT

 

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Quinte Siding - 10% OFF
St. John Ambulance - Discount on training
Body Systems Nutrition - 15% OFF purchases.
Superior Propane - Save 5% on fixed price propane
OSM Website design - SAVE on services.
Cloud Bookkeeping Services - 10% OFF
Constant Contact Chamber Member Offer
Dinkles & Paulos Restaurants - 10% OFF
Grand & Toy - Members can save up to 85%
Jesan Property Maintenance - SAVE 10%
Shoppers Drug Mart - Save 20% on Thursdays
Be Prepared First Aid Traning - 15% off
Friendly Fires - 10% OFF
Papa Johns Pizza Member Offer- 25% off
Grand & Toy - Cost-saving solutions
Esso Chamber
Belleville & District Shrine Club
Allen Insurance - Exclusive Chamber Member Rates
NRG Alternatives - 10% Discount
RBC - Save on Bank charges
Stirling Festival Theatre - Group Discounts available to members
Parsons Cleaners Member offer - 10% OFF
Superior Propane - Save 5% on fixed price propane
Friendly Fires - 10% OFF
Shoppers Drug Mart - Save 20% on Thursdays
Body Systems Nutrition - 15% OFF purchases.
Grand & Toy - Cost-saving solutions
Constant Contact Chamber Member Offer
Dinkles & Paulos Restaurants - 10% OFF
OSM Website design - SAVE on services.
RBC - Save on Bank charges
Quinte Siding - 10% OFF
Parsons Cleaners Member offer - 10% OFF
Stirling Festival Theatre - Group Discounts available to members
Esso Chamber
Be Prepared First Aid Traning - 15% off
Belleville & District Shrine Club
Grand & Toy - Members can save up to 85%
NRG Alternatives - 10% Discount
Group Benefit Plan for Chamber Members
Cloud Bookkeeping Services - 10% OFF
St. John Ambulance - Discount on training
Papa Johns Pizza Member Offer- 25% off
Jesan Property Maintenance - SAVE 10%
Allen Insurance - Exclusive Chamber Member Rates